Highway Interchange Commercial
For Sale
$4,900,000
2801 E New York Avenue, Deland, FL 32724
B-6 zoning accommodates hospitality, restaurant, automotive, convenience, educational, and other commercial uses.
Property Size64,632 SF
Days on Market8
Property Features for 2801 E New York Avenue
General Information
Standard status
Active
Size
64,632 SF
Property subtype
Hospitality
Zoning
B-6 Highway Interchange Commercial
Building Details
Building Size
64,632 SF
Listing Agency:
Coldwell Banker Commercial Benchmark Ormond Beach
Listed By:
Bob Rand · License #SL3128649
(386) 672-8530
Source:
Cbcworldwide
Added: Sep 1
Changed: Sep 8
Last Checked: Sep 8 at 7:35AM
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 Ormond Beach
Investment Insights
Based on property information with market context.
This 6.79±-acre commercial land tract is zoned B-6 – Highway Interchange Commercial and includes a former 105-room exterior-corridor motel with an on-site restaurant and bar. The property is currently non-operating and positioned for repositioning or ground-up redevelopment. Built in 1973, the existing hospitality improvements provide a basis for evaluating redevelopment or a new commercial concept.
Located at 2801 E New York Ave in DeLand, the site has direct I-4 frontage and sits adjacent to the I-4 interchange at SR 44. The B-6 designation supports a broad range of stated uses, including hotel or motel, automotive service station, convenience store with fuel, RV sales and service, school, restaurant, and house of worship. Its scale, interchange exposure, and permitted-use flexibility support multiple redevelopment approaches.
Located at 2801 E New York Ave in DeLand, the site has direct I-4 frontage and sits adjacent to the I-4 interchange at SR 44. The B-6 designation supports a broad range of stated uses, including hotel or motel, automotive service station, convenience store with fuel, RV sales and service, school, restaurant, and house of worship. Its scale, interchange exposure, and permitted-use flexibility support multiple redevelopment approaches.
Key Highlights
- 6.79± acres of B‑6 – Highway Interchange Commercial land
- Direct I‑4 frontage adjacent to the interchange at SR 44
- Former 105‑room exterior‑corridor motel with on‑site restaurant and bar
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
$232,094
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
4.74%
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%
$4,641,880
$4.6M
Cap Rate 7%
$3,315,629
$3.3M
Cap Rate 9%
$2,578,822
$2.6M
Market Conditions
NOI Build-Up for 64,632 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
$1.16M $18.00/SF
− Vacancy
−$674.8K −$10.44/SF
EGI
$488.6K $7.56/SF
− OpEx
−$256.5K −$3.97/SF
NOI
$232.1K $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%
$4,641,880
Cap Rate 7%
$3,315,629
Cap Rate 9%
$2,578,822
Alternative Uses
Best Use
Hotel Hospitality
$3.32M
$2.90M – $3.87M
NOI $232,094 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.06M
$16.68M – $22.23M
NOI $1,334,004 @ 7.0% cap · market cap 27.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - B-6 zoning accommodates hospitality, restaurant, automotive, convenience, educational, and other commercial uses.
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; Direct I‑4 frontage adjacent to the interchange at SR 44; Former 105‑room exterior‑corridor motel with on‑site restaurant and bar
