Two-Story Multi-Tenant
For Sale
$1,200,000
2820 Howland Boulevard, Deltona, FL 32725
Brick building with seven units, newer metal roof, and strong frontage with 18 parking spaces for retail or office uses.
Property Size4,460 SF
Lot Size0.34 Acres
Price / SF$269.06
Days on Market61
Property Features for 2820 Howland Boulevard
General Information
Standard status
Active
Size
4,460 SF
Total Parking Spaces
18
Lot size
0.34 Acres
Property subtype
Retail
Zoning
C-1
Additional Details
Highway Access
Yes
Office Units
7
Building Details
Year Built
1991
Stories
2
Tenancy
Multi
Listing Agency:
COLDWELL BANKER REALTY
(407) 696-8000
Listed By:
Linda Berk · License #3573917
Source:
Xome
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 6 at 3:25AM
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 REALTY
Investment Insights
Based on property information with market context.
This two-story, 4,460± SF brick multi-tenant plaza provides seven units, including six on the ground floor and one on the second floor, along with a garage and additional storage space. The property also features a newer metal roof installed approximately three years ago, supporting durability for both tenants and future re-leasing needs.
Located on Howland Boulevard in Deltona, the building is described as minutes to I-4 and less than a block from the new 277-unit Catalina Pointe residential development. The site offers approximately 100 feet of frontage on a high-traffic corridor and includes 18 parking spaces, supporting convenient customer access and visibility.
Zoned C-1, the property is suited for a wide range of neighborhood retail, professional office, and personal-service uses. Existing tenants operate on month-to-month leases, which can provide immediate income while allowing flexibility for an owner-user or investor to adjust unit mix over time. With its small-plaza format, garage and storage, and frontage-oriented design, it offers a practical platform for operators looking for exposure along a growing corridor.
Located on Howland Boulevard in Deltona, the building is described as minutes to I-4 and less than a block from the new 277-unit Catalina Pointe residential development. The site offers approximately 100 feet of frontage on a high-traffic corridor and includes 18 parking spaces, supporting convenient customer access and visibility.
Zoned C-1, the property is suited for a wide range of neighborhood retail, professional office, and personal-service uses. Existing tenants operate on month-to-month leases, which can provide immediate income while allowing flexibility for an owner-user or investor to adjust unit mix over time. With its small-plaza format, garage and storage, and frontage-oriented design, it offers a practical platform for operators looking for exposure along a growing corridor.
Key Highlights
- Two‑story 4,460± SF brick multi‑tenant building with seven units on 0.34± acres
- Approximately 100 ft of frontage on a high‑traffic corridor with 18 parking spaces
- Newer metal roof installed about 3 years ago
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
$66,833
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
5.57%
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%
$1,336,660
$1.3M
Cap Rate 7%
$954,757
$954.8K
Cap Rate 9%
$742,589
$742.6K
Market Conditions
NOI Build-Up for 4,460 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
$96.3K $21.60/SF
− Vacancy
−$7.2K −$1.62/SF
EGI
$89.1K $19.98/SF
− OpEx
−$22.3K −$5.00/SF
NOI
$66.8K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,336,660
Cap Rate 7%
$954,757
Cap Rate 9%
$742,589
Alternative Uses
Best Use
Office B
$954.8K
$835.4K – $1.11M
NOI $66,833 @ 7.0% cap · market cap 5.57%
Second Best
Retail
$600.1K
$525.1K – $700.1K
NOI $42,007 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$1.32M
$1.15M – $1.53M
NOI $92,054 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 32725, FL
50,435
Population
19,177
Households
2.6
Avg Household Size
42
Median Age
22%
College-Educated
91%
High-School Grad
23.1 sq mi
ZIP Area
2,183
Density / Sq Mi
$70,801
Median Household Income
$40,970
Median Earnings
$1,533
Median Rent
$255,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Brick building with seven units, newer metal roof, and strong frontage with 18 parking spaces for retail or office uses.
Where is this retail space located?
The property is located at 2820 Howland Boulevard Deltona, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑story 4,460± SF brick multi‑tenant building with seven units on 0.34± acres; Approximately 100 ft of frontage on a high‑traffic corridor with 18 parking spaces; Newer metal roof installed about 3 years ago
