Historic Mixed-Use
For Sale
Under Contract
$499,999
228 W HOWRY Avenue, Deland, FL 32720
Commercial Sale, DELAND, FL
Property Size4,123 SF
Lot Size0.82 Acres
Price / SF$121.27
Days on Market244
Property Features for 228 W HOWRY Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Refrigerator
Subdivision
LOT C SUB
Lot features
Historic District, City Limits, Oversized Lot, Sidewalk, Paved
Directions
From intersection of New York Ave and Woodland Blvd, head West on New York Ave. Turn Left on Florida Ave, Right on Howry. Home is on the Left.
Standard status
Active Under Contract
APN
7016-10-00-0030
Size
4,123 SF
Lot size
0.82 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT C SUB BLK 9 HOWRYS ADD DELAND MB 5 PG 127 PER OR 3966 PG 3646 PER OR 5379 PG 0668 PER OR 6321 PG 3419 PER OR 7433 PG 1798 PER OR 7433 PGS 1799-1801 INC PER OR 7891 PG 2713 PER OR 8444 PG 4219
Tax Annual Amount
5968
Legal Description
LOT C SUB BLK 9 HOWRYS ADD DELAND MB 5 PG 127 PER OR 3966 PG 3646 PER OR 5379 PG 0668 PER OR 6321 PG 3419 PER OR 7433 PG 1798 PER OR 7433 PGS 1799-1801 INC PER OR 7891 PG 2713 PER OR 8444 PG 4219
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Water source
Public
Amenities
swimming pool
fireplace
Building Details
Year built
1883
Floors in Building
2
Building materials
Frame, Wood Siding
Roof type
Shingle
Listing Agency:
ADAMS, CAMERON & CO., REALTORS
(386) 738-1920
Listed By:
Kaley Macomber · License #3273573
(386) 561-1925
Added: Dec 26, 2025
Changed: Aug 24
Last Checked: Aug 27 at 4:06PM
MLS# V4946433
Copyright © 2026 Stellar MLS. 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.
Built in 1883, this mixed-use property combines a 3,572-square-foot main house with a detached 551-square-foot guesthouse. The principal structure includes five bedrooms with private full bathrooms, two substantial living rooms, a dining room with fireplace, kitchen, office or flex space, and one bedroom with a separate entrance. The guesthouse offers one bedroom, one bathroom, and a loft identified as having potential for a second bedroom.
The 0.82-acre property is in downtown DeLand, two blocks from the downtown center and close to Stetson University. Existing site features include parking and an in-ground swimming pool. C-2 zoning is in place, and the property is currently configured for café use. Public water and public sewer serve the site, with central heating and a combination of central and window or wall-mounted cooling.
The 0.82-acre property is in downtown DeLand, two blocks from the downtown center and close to Stetson University. Existing site features include parking and an in-ground swimming pool. C-2 zoning is in place, and the property is currently configured for café use. Public water and public sewer serve the site, with central heating and a combination of central and window or wall-mounted cooling.
Key Highlights
- 3,572‑square‑foot main house with 5 bedrooms and private full bathrooms
- Detached 551‑square‑foot guesthouse with 1 bedroom, 1 bathroom, and loft
- 0.82‑acre site with parking and an in‑ground swimming pool
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
$14,806
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
2.96%
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%
$296,120
$296.1K
Cap Rate 7%
$211,514
$211.5K
Cap Rate 9%
$164,511
$164.5K
Market Conditions
NOI Build-Up for 4,123 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
$74.2K $18.00/SF
− Vacancy
−$43.0K −$10.44/SF
EGI
$31.2K $7.56/SF
− OpEx
−$16.4K −$3.97/SF
NOI
$14.8K $3.59/SF
Area
Volusia County, FL
Vacancy
58.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$296,120
Cap Rate 7%
$211,514
Cap Rate 9%
$164,511
Alternative Uses
Best Use
Specialty Retail
$894.4K
$782.6K – $1.04M
NOI $62,609 @ 7.0% cap · market cap 12.52%
Second Best
Mixed Use
$727.6K
$636.6K – $848.8K
NOI $50,929 @ 7.0% cap · market cap 10.19%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,099 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
92k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Dining 40%
Home Improvements & Furnishings 11%
Hotels & Casinos 6%
Checkers
Dining
9,003 visits/mo
0.2 miles
Firehouse Subs
Dining
8,924 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,567 visits/mo
0.5 miles
Bank of America
Shops & Services
8,421 visits/mo
0.4 miles
Ace Hardware of Deland LLC
Home Improvements & Furnishings
7,941 visits/mo
0.2 miles
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 Retail 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?
Mixed-use property - Located in downtown DeLand with C-2 zoning and an existing café setup.
Where is this mixed-use property located?
The property is located at 228 W HOWRY Avenue Deland, FL.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: 3,572‑square‑foot main house with 5 bedrooms and private full bathrooms; Detached 551‑square‑foot guesthouse with 1 bedroom, 1 bathroom, and loft; 0.82‑acre site with parking and an in‑ground swimming pool
