DeLand Commercial Building
For Sale
$580,000
247 S AMELIA AVENUE, Deland, FL 32724
Commercial building near downtown DeLand with redevelopment potential.
Property Size5,000 SF
Lot Size0.34 Acres
Price / SF$116
Days on Market311
Property Features for 247 S AMELIA AVENUE
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.34 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,721
Amenities
Central air
Corner Lot
Pool
Public Pool
Sidewalk
Central Business District
Parking Spaces - 6 to 12
Wall/Window Unit(s) Cooling
Building Details
Year Built
1961
Listing Agency:
GREENE REALTY OF FLORIDA LLC
(386) 734-2200
Listed By:
RUSSELL HAMIL · License #3227194
(386) 785-4474
Source:
Corcoran
Added: Nov 4, 2025
Changed: Sep 10
Last Checked: Sep 10 at 7:27AM
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 GREENE REALTY OF FLORIDA LLC
Investment Insights
Based on property information with market context.
This is a rare opportunity to own a commercial building with over 5,000 square feet, situated at a lighted intersection near historic downtown DeLand. The zoning is City of DeLand C-2, which allows for a variety of commercial uses. These include professional or medical offices, salons, daycares, banquet or catering facilities, restaurants, coffee shops, and retail spaces. The building features a large, strongly built open-span steel frame structure with masonry walls and a concrete slab foundation, complete with a loading dock. A partial interior buildout exists for the current use, but further interior buildout will be needed to accommodate future uses. Buildings like this are rare in such a visible and rapidly redeveloping location near downtown DeLand and Stetson University. The property is sold AS-IS.
Key Highlights
- Over 5,000 sq ft commercial building in a rapidly redeveloping location near downtown DeLand and Stetson University.
- Located at a lighted intersection offering high visibility.
- City of DeLand C‑2 zoning allows for a myriad of commercial uses (Professional/Medical Offices, Salons, Daycare, Banquet/Catering, Restaurant, Coffee Shop, Retail, and many more).
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
$47,093
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
8.12%
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%
$941,860
$941.9K
Cap Rate 7%
$672,757
$672.8K
Cap Rate 9%
$523,256
$523.3K
Market Conditions
NOI Build-Up for 5,000 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
$75.0K $15.00/SF
− Vacancy
−$7.7K −$1.55/SF
EGI
$67.3K $13.46/SF
− OpEx
−$20.2K −$4.04/SF
NOI
$47.1K $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%
$941,860
Cap Rate 7%
$672,757
Cap Rate 9%
$523,256
Alternative Uses
Best Use
Specialty Retail
$1.08M
$949.1K – $1.27M
NOI $75,927 @ 7.0% cap · market cap 13.09%
Second Best
Office B
$1.07M
$936.6K – $1.25M
NOI $74,925 @ 7.0% cap · market cap 12.92%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,200 @ 7.0% cap · market cap 17.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,776
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial building near downtown DeLand with redevelopment potential.
Where is this commercial land located?
The property is located at 247 S AMELIA AVENUE Deland, FL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Over 5,000 sq ft commercial building in a rapidly redeveloping location near downtown DeLand and Stetson University.; Located at a **lighted intersection offering high visibility**.; City of DeLand C‑2 zoning allows for a myriad of commercial uses (Professional/Medical Offices, Salons, Daycare, Banquet/Catering, Restaurant, Coffee Shop, Retail, and many more).
