Building Details

Buildings 1

Building Size 16,025 SF

Listing Agency: Foundry Commercial - Corporate Show Phone

Listed By: Lawson Dann Show Phone

Source: Moodyscre

Added: Jan 19 Changed: Oct 2 Last Checked: Oct 16 at 12:01PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Foundry Commercial - Corporate

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Investment Insights

Based on property information with market context.

This freestanding flex property contains 16,025 SF within a versatile commercial layout. The front portion combines showroom and office areas with extensive glass lines, while the rear provides air-conditioned operations and storage space with an overhead door. A 95-foot building depth supports separation between customer-facing and functional areas.

The building occupies a clean ±0.86 AC site along SR 15A, with 31 concrete parking spaces serving the property. An adjacent ±4.1-acre contiguous parcel is also available, providing additional land for expansion, outdoor retail or yard use, or future redevelopment in the DeLand market.

Key Highlights

• 16,025 SF freestanding flex building
• ±0.86 AC site along SR 15A
• Showroom and office areas with large glass lines

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$180,705

Cap Rate

5.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,614,100 $3.6M

Cap Rate 7%

$2,581,500 $2.6M

Cap Rate 9%

$2,007,833 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,025 SF

Gross rent

$303.8K $18.96/SF

− Vacancy

−$25.8K −$1.61/SF

EGI

$278.0K $17.35/SF

− OpEx

−$97.3K −$6.07/SF

NOI

$180.7K $11.28/SF

Area

Volusia County, FL

Vacancy

8.50%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,614,100

Cap Rate 7%

$2,581,500

Cap Rate 9%

$2,007,833

Alternative Uses

Best Use

Flex RnD

$2.58M

$2.26M – $3.01M (±1% cap)

NOI $180,705 @ 7.0% cap · market cap 5.16%

Second Best

Industrial

$1.36M

$1.19M – $1.59M (±1% cap)

NOI $95,405 @ 7.0% cap · market cap 2.73%

Theoretical Best

Office A

$4.73M

$4.13M – $5.51M (±1% cap)

NOI $330,756 @ 7.0% cap · market cap 9.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Badcock Home Furniture ... Furniture & Home Goods

Suggested Use

Top Pick Dental Office Law Firm Building Supply Restaurant Hair Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Under-served

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Open showroom and office areas connect with air-conditioned operations space, storage, and an overhead door.

Where is this flex space located?

The property is located at 1631 S State Rd 15A Deland, FL.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: 16,025 SF freestanding flex building; ±0.86 AC site along SR 15A; Showroom and office areas with large glass lines