Building Details

Year Built 1973

Listing Agency: Coldwell Banker Commercial Benchmark

Listed By: Holly Booth · License #3540789 Show Phone

Source: Crexi

Added: Aug 26 Changed: Oct 16 Last Checked: Oct 20 at 9:24PM

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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 Coldwell Banker Commercial Benchmark

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Investment Insights

Based on property information with market context.

This 6.79-acre commercial land site is zoned B-6 for Highway Interchange Commercial use and sits adjacent to the I-4 interchange at SR 44. The property is visible from Interstate 4 and is suited to redevelopment or repositioning under a zoning framework that accommodates a broad range of commercial applications.

The site previously contained a 105-room exterior-corridor motel with an on-site restaurant and bar. Those operations are no longer active, creating a property with an established hospitality history and redevelopment context. Potential uses identified for the B-6 designation include hotel or motel development, automotive service stations, convenience retail with fuel, RV sales and service, restaurants, schools, and houses of worship.

Key Highlights

• 6.79 acres of B‑6 Highway Interchange Commercial land
• Adjacent to the I‑4 interchange at SR 44
• Visibility from Interstate 4

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$179,550

Cap Rate

3.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,591,000 $3.6M

Cap Rate 7%

$2,565,000 $2.6M

Cap Rate 9%

$1,995,000 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 50,000 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $1,032,000 @ 7.0% cap · market cap 21.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

MVR INC Marketing & Advertising Deland West Substation Electrical Substation LibertyX Bitcoin ATM Atm

Suggested Use

Top Pick Building Supply Parking Lot & Garage Plumbing Service Auto Parts Store Home Appliance Store Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

26

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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Frequently Asked Questions

What type of property is this?

Commercial land - B-6-zoned redevelopment site positioned beside an I-4 interchange with broad commercial and hospitality use flexibility.

Where is this commercial land located?

The property is located at 2801 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: 6.79 acres of B‑6 Highway Interchange Commercial land; Adjacent to the I‑4 interchange at SR 44; Visibility from Interstate 4