Listing Agency: deltona lakes realty inc L***@gmail.com

Listed By: Carole Arcaro · License #350032 Show Phone

Source: Exprealty

Added: Nov 11, 2015 Changed: Oct 11 Last Checked: Oct 11 at 10:58AM

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Investment Insights

Based on property information with market context.

These two corner lots offer excellent exposure on Howland Boulevard, Bluffview Circle, and Maureen Drive, making them ideal for a drive-thru or fast-food restaurant. A holding lane is present on Howland Boulevard. Volusia County recently closed on a nearby corner lot at Howland Boulevard and Providence to create a left turn lane from Howland to Providence. Howland Boulevard has been expanded to four lanes from I-4 to Elkcam Boulevard in Deltona. The property is conveniently located minutes from the new hospital, the I-4 Howland exit, and Amazon. A potential layout has been drafted, showcasing setbacks, a long, narrow building footprint, parking, a 2,100 sq ft building, an 8-car holding lane, and 12 parking spaces. The site is near Deltona's hospital on Howland and I-4, across from Winn-Dixie, and close to sewer and water access. The property features a direct turning lane from Howland and excellent panoramic double corner exposure. It offers approximately 260 feet of frontage on the busy, newly five-laned Howland Boulevard, along with approximately 118 feet fronting Bluffview Circle and Maureen Drive. The location is near Deltona's new hospital and Amazon distribution center. A new right turn lane is being installed 200 feet away at Providence and Howland. The property is situated in a great area for investment, near a college, the City of Deltona, Catalina Point Apartments, and the Deltona Community Center. The owner may consider terms.

Key Highlights

• Prime location for a drive‑thru business; the layout is designed for a 2,100 sq ft building, 8‑car holding lane, and 12 parking spaces with existing holding lane on Howland Blvd.
• Two corner lots totaling .65 acres with excellent exposure on three streets, including 260 +/- feet on Howland Blvd.
• Located on Howland Blvd, which has been expanded to 5 lanes, ensuring high traffic volume.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,779

Cap Rate

6.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$395,580 $395.6K

Cap Rate 7%

$282,557 $282.6K

Cap Rate 9%

$219,767 $219.8K

Market Conditions

NOI Build-Up for 2,100 SF

Gross rent

$31.5K $15.00/SF

− Vacancy

−$3.2K −$1.55/SF

EGI

$28.3K $13.46/SF

− OpEx

−$8.5K −$4.04/SF

NOI

$19.8K $9.42/SF

Area

Volusia County, FL

Vacancy

10.30%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$395,580

Cap Rate 7%

$282,557

Cap Rate 9%

$219,767

Alternative Uses

Best Use

Specialty Retail

$455.6K

$398.6K – $531.5K (±1% cap)

NOI $31,889 @ 7.0% cap · market cap 9.69%

Second Best

Retail

$282.6K

$247.2K – $329.7K (±1% cap)

NOI $19,779 @ 7.0% cap · market cap 6.01%

Theoretical Best

Office A

$619.2K

$541.8K – $722.4K (±1% cap)

NOI $43,344 @ 7.0% cap · market cap 13.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Drive through restaurants

Location Intelligence

Trade Area within ½ mile

76

Businesses Nearby

Explore this area Business Placement

Demographics for 32738, FL

47,284

Population

16,965

Households

2.8

Avg Household Size

40

Median Age

18%

College-Educated

91%

High-School Grad

25.8 sq mi

ZIP Area

1,833

Density / Sq Mi

$76,394

Median Household Income

$39,348

Median Earnings

$1,608

Median Rent

$257,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this drive through restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Drive through restaurant - Two corner lots ideal for drive-thru near hospital and Amazon.

Where is this drive through restaurant located?

The property is located at 000 Howland Blvd & Bluffview Boulevard Deltona, FL.

What is the asking price?

The asking price for this property is $329,000.

What are key features of this property?

This property features: Prime location for a drive‑thru business; the layout is designed for a 2,100 sq ft building, 8‑car holding lane, and 12 parking spaces with existing holding lane on Howland Blvd.; Two corner lots totaling .65 acres with excellent exposure on three streets, including 260 +/- feet on Howland Blvd.; Located on Howland Blvd, which has been expanded to 5 lanes, ensuring high traffic volume.