Flex Space with Adaptable
For Sale
$224,900
227 W Voorhis Avenue, Deland, FL 32720
Commercial Sale, DeLand, FL
Property Size2,440 SF
Lot Size0.25 Acres
Price / SF$92.17
Days on Market181
Property Features for 227 W Voorhis Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot, Off Street
Lot features
Cleared, Few Trees
Directions
Woodland Blvd South from New York, right on Voorhis Ave, about 1.5 blocks on your right.
Subdivision
92 - Deland
Standard status
Active
APN
7016-10-00-0150
Size
2,440 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
16-17-30 LOT O SUB BLK 9 HOWRYS ADD DELAND PER OR 753 PG 300 PER OR 8795 PG 3264
Tax Annual Amount
2764
Legal Description
16-17-30 LOT O SUB BLK 9 HOWRYS ADD DELAND PER OR 753 PG 300 PER OR 8795 PG 3264
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Water source
Public
Amenities
Men's and women's restrooms
Kitchen/break area
Building Details
Year built
1989
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
Adams, Cameron & Co., Realtors
(386) 673-2100
Listed By:
Chad T Shultz
(928) 242-1990
Added: Mar 11
Changed: Aug 20
Last Checked: Sep 7 at 1:06PM
MLS# 1223994
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,440-square-foot flex building sits on 0.25 acres and was constructed in 1989 with block and concrete materials. The property has 10-foot interior ceilings, concrete flooring, wall-unit cooling, two restrooms, and a kitchen or break area. Interior partitions are non-load-bearing, allowing the floor plan to be modified for changing operational requirements. A shingle roof was installed in February 2026, while the interior requires updates or renovation.
The C-2 zoning, public water, public sewer, off-street parking, and on-site parking lot support a range of commercial configurations. Cable is available, and the building's existing improvements provide a functional starting point for a redesigned flex space.
The C-2 zoning, public water, public sewer, off-street parking, and on-site parking lot support a range of commercial configurations. Cable is available, and the building's existing improvements provide a functional starting point for a redesigned flex space.
Key Highlights
- 2,440‑square‑foot building on a 0.25‑acre lot
- 10‑foot interior ceilings with non‑load‑bearing partitions
- New shingle roof installed in February 2026
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,527
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$290,540
$290.5K
Cap Rate 7%
$207,529
$207.5K
Cap Rate 9%
$161,411
$161.4K
Market Conditions
NOI Build-Up for 2,440 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.0K $9.00/SF
− Vacancy
−$1.2K −$0.50/SF
EGI
$20.8K $8.50/SF
− OpEx
−$6.2K −$2.55/SF
NOI
$14.5K $5.95/SF
Area
Volusia County, FL
Vacancy
5.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$290,540
Cap Rate 7%
$207,529
Cap Rate 9%
$161,411
Alternative Uses
Best Use
Flex RnD
$393.1K
$343.9K – $458.6K
NOI $27,515 @ 7.0% cap · market cap 12.23%
Second Best
Industrial
$207.5K
$181.6K – $242.1K
NOI $14,527 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$719.5K
$629.5K – $839.4K
NOI $50,362 @ 7.0% cap · market cap 22.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32720, FL
33,568
Population
13,962
Households
2.4
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
66.3 sq mi
ZIP Area
506
Density / Sq Mi
$67,512
Median Household Income
$39,159
Median Earnings
$1,177
Median Rent
$280,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C-2 zoned commercial building with public water and sewer, restrooms, and space for interior renovation.
Where is this flex space located?
The property is located at 227 W Voorhis Avenue Deland, FL.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 2,440‑square‑foot building on a 0.25‑acre lot; 10‑foot interior ceilings with non‑load‑bearing partitions; New shingle roof installed in February 2026
