Highway Interchange Commercial
New
For Sale
$4,900,000
28 E New York Avenue, Deland, FL 32724
Commercial Sale, DeLand, FL
Property Size50,000 SF
Price / SF$98
Days on Market4
Property Features for 28 E New York Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
I-95S to I-4 W to E New York Ave
Subdivision
92 - Deland
Standard status
Active
APN
711800000081
Size
50,000 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
18 17 31 IRREG PARCEL IN W 1/2 OF SW 1/4 N OF SR 44 MEAS 582 .13 FT ON W/L & 515.46 FT ON N/L PER OR 2806 PG 1119 PER OR 5685 PG 2013 PER OR 5828 PGS 3274-3277 PER OR 6896 PG 3917
Legal Description
18 17 31 IRREG PARCEL IN W 1/2 OF SW 1/4 N OF SR 44 MEAS 582 .13 FT ON W/L & 515.46 FT ON N/L PER OR 2806 PG 1119 PER OR 5685 PG 2013 PER OR 5828 PGS 3274-3277 PER OR 6896 PG 3917
Building Details
Year built
1973
Listing Agency:
Coldwell Banker Commercial Benchmark
(386) 672-8530
Listed By:
Holly Booth · License #3540789
(678) 898-2721
Added: Aug 26
Last Checked: Aug 29 at 11:06AM
MLS# 1230113
Copyright © 2026 Daytona Beach Area Association of Realtors. 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.
This B-6 commercial land parcel is positioned for redevelopment or a new ground-up project. The property formerly operated as a 105-room exterior-corridor motel with an on-site restaurant and bar; those operations are no longer active. The zoning allows a broad range of commercial applications, including hotel or motel use, automotive service stations, convenience retail with fuel, RV sales and service, restaurants, schools, and houses of worship.
The site is directly adjacent to the Interstate 4 interchange at SR 44 and is located at 28 E New York Avenue in DeLand, Florida. Its interchange setting provides a defined commercial context for redevelopment, while the range of permitted uses offers flexibility for hospitality, service, retail, and institutional concepts.
The site is directly adjacent to the Interstate 4 interchange at SR 44 and is located at 28 E New York Avenue in DeLand, Florida. Its interchange setting provides a defined commercial context for redevelopment, while the range of permitted uses offers flexibility for hospitality, service, retail, and institutional concepts.
Key Highlights
- B‑6 Highway Interchange Commercial zoning
- Directly adjacent to the Interstate 4 interchange at SR 44
- Former 105‑room exterior‑corridor motel
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
$179,550
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
3.66%
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%
$3,591,000
$3.6M
Cap Rate 7%
$2,565,000
$2.6M
Cap Rate 9%
$1,995,000
$2.0M
Market Conditions
NOI Build-Up for 50,000 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
$900.0K $18.00/SF
− Vacancy
−$522.0K −$10.44/SF
EGI
$378.0K $7.56/SF
− OpEx
−$198.5K −$3.97/SF
NOI
$179.6K $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%
$3,591,000
Cap Rate 7%
$2,565,000
Cap Rate 9%
$1,995,000
Alternative Uses
Best Use
Hotel Hospitality
$2.56M
$2.24M – $2.99M
NOI $179,550 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.74M
$12.90M – $17.20M
NOI $1,032,000 @ 7.0% cap · market cap 21.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,775
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - B-6 zoning supports hospitality, automotive, fuel, restaurant, and other commercial uses.
Where is this commercial land located?
The property is located at 28 E New York Avenue Deland, FL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: B‑6 Highway Interchange Commercial zoning; Directly adjacent to the Interstate 4 interchange at SR 44; Former 105‑room exterior‑corridor motel
