Corner Storefront
For Sale
Contact for pricing
245 S Woodland Blvd, Deland, FL 32724
C-2A-zoned retail property on a walkable downtown commercial corridor with frontage along South Woodland Boulevard.
Property Size10,700 SF
Price / SF$167.29
Days on Market15
Property Features for 245 S Woodland Blvd
General Information
Standard status
Active
Size
10,700 SF
Class
C
Total Parking Spaces
29
Property subtype
Retail
Zoning
C-2A City of DeLand
Lease Type
NNN
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1973
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Maury L. Carter & Associates Inc
Listed By:
Daryl Carter · License #FL 446269
Source:
Crexi
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 11 at 6:16PM
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 Maury L. Carter & Associates Inc
Investment Insights
Based on property information with market context.
This 10,700-square-foot storefront retail building was constructed in 1973 and is zoned C-2A City of DeLand. The property occupies a hard-corner position with frontage on South Woodland Boulevard, also designated US-17/92, providing direct street exposure and access for a retail operation.
The building is situated in Historic Downtown DeLand, an established commercial district featuring boutique retailers, restaurants, cafés, breweries, galleries, and professional offices. DeLand Commons, a 169-unit apartment community, is adjacent to the property, with established neighborhoods, new residential development, and a daytime employment base surrounding the site.
The building is situated in Historic Downtown DeLand, an established commercial district featuring boutique retailers, restaurants, cafés, breweries, galleries, and professional offices. DeLand Commons, a 169-unit apartment community, is adjacent to the property, with established neighborhoods, new residential development, and a daytime employment base surrounding the site.
Key Highlights
- 10,700‑square‑foot storefront retail building
- C‑2A City of DeLand zoning
- Hard‑corner location with frontage on South Woodland Boulevard (US‑17/92)
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
$100,778
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
5.63%
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%
$2,015,560
$2.0M
Cap Rate 7%
$1,439,686
$1.4M
Cap Rate 9%
$1,119,756
$1.1M
Market Conditions
NOI Build-Up for 10,700 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
$160.5K $15.00/SF
− Vacancy
−$16.5K −$1.55/SF
EGI
$144.0K $13.46/SF
− OpEx
−$43.2K −$4.04/SF
NOI
$100.8K $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 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%
$2,015,560
Cap Rate 7%
$1,439,686
Cap Rate 9%
$1,119,756
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $100,778 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,848 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,625
Businesses Nearby
75k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 39%
Home Improvements & Furnishings 13%
Checkers
Dining
9,003 visits/mo
0.2 miles
Shell
Shops & Services
9,000 visits/mo
0.5 miles
Firehouse Subs
Dining
8,924 visits/mo
0.5 miles
Ace Hardware of Deland LLC
Home Improvements & Furnishings
7,941 visits/mo
0.1 miles
Fairwinds Credit Union
Shops & Services
6,514 visits/mo
0.4 miles
Demographics for 32724, FL
40,559
Population
18,555
Households
2.2
Avg Household Size
45
Median Age
31%
College-Educated
92%
High-School Grad
83.8 sq mi
ZIP Area
484
Density / Sq Mi
$72,729
Median Household Income
$41,204
Median Earnings
$1,184
Median Rent
$283,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Spring flowers and plants Inc — 302 S Woodland Blvd, DeLand, FL 32720
- Dorothy's There's No Place Like Home — 100 E New York Ave, DeLand, FL 32724
Frequently Asked Questions
What type of property is this?
Storefront property - C-2A-zoned retail property on a walkable downtown commercial corridor with frontage along South Woodland Boulevard.
Where is this storefront property located?
The property is located at 245 S Woodland Blvd Deland, FL.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 10,700‑square‑foot storefront retail building; C‑2A City of DeLand zoning; Hard‑corner location with frontage on South Woodland Boulevard (US‑17/92)
