Freestanding Flex
For Sale
Contact for pricing
1631 S State Rd 15A, Deland, FL 32720
Open showroom and office areas connect with air-conditioned operations space, storage, and an overhead door.
Property Size16,025 SF
Lot Size0.86 Acres
Price / SF$218.41
Days on Market225
Property Features for 1631 S State Rd 15A
General Information
Standard status
Active
Size
16,025 SF
Total Parking Spaces
31
Lot size
0.86 Acres
Property subtype
FLEX_R_AND_D
Additional Details
Road Access
Yes
Conditioned Warehouse
Yes
Building Details
Buildings
1
Building Size
16,025 SF
Listing Agency:
Foundry Commercial - Corporate
(407) 342-4698
Listed By:
Lawson Dann
Source:
Moodyscre
Added: Jan 19
Changed: Aug 31
Last Checked: Aug 31 at 1:00AM
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
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.
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 = 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
$180,705
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
5.16%
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%
$3,614,100
$3.6M
Cap Rate 7%
$2,581,500
$2.6M
Cap Rate 9%
$2,007,833
$2.0M
Market Conditions
NOI Build-Up for 16,025 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
$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 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%
$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
NOI $180,705 @ 7.0% cap · market cap 5.16%
Second Best
Industrial
$1.36M
$1.19M – $1.59M
NOI $95,405 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$4.73M
$4.13M – $5.51M
NOI $330,756 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
