Retail Space with Outdoor
For Sale
Contact for pricing
2840 Elkcam Blvd, Deltona, FL 32738
An open interior is paired with a secured exterior area for storage.
Property Size7,160 SF
Lot Size1.15 Acres
Price / SF$206.01
Days on Market9
Property Features for 2840 Elkcam Blvd
General Information
Standard status
Active
Size
7,160 SF
Lot size
1.15 Acres
Property subtype
Retail
Additional Details
Outdoor Storage
Yes
Amenities
secured outdoor storage area
Building Details
Building Size
7,160 SF
Listing Agency:
Foundry Commercial
Listed By:
Charles Attaway · License ##SL3547041
(407) 540-7700
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 24 at 2:41PM
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 Foundry Commercial
Investment Insights
Based on property information with market context.
This 7,160-square-foot retail property has an open interior and a secured outdoor storage area on a 1.15-acre site. The building was previously occupied by Ace Hardware.
The property is in Deltona, Florida.
The property is in Deltona, Florida.
Key Highlights
- 7,160 SF of retail space with an open layout
- Secured outdoor storage area
- Situated on 1.15 acres in Deltona, Florida
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
$67,436
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
4.57%
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%
$1,348,720
$1.3M
Cap Rate 7%
$963,371
$963.4K
Cap Rate 9%
$749,289
$749.3K
Market Conditions
NOI Build-Up for 7,160 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
$107.4K $15.00/SF
− Vacancy
−$11.1K −$1.55/SF
EGI
$96.3K $13.46/SF
− OpEx
−$28.9K −$4.04/SF
NOI
$67.4K $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%
$1,348,720
Cap Rate 7%
$963,371
Cap Rate 9%
$749,289
Alternative Uses
Best Use
Retail
$963.4K
$843.0K – $1.12M
NOI $67,436 @ 7.0% cap · market cap 4.57%
Second Best
Warehouse
$822.7K
$719.8K – $959.8K
NOI $57,586 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,782 @ 7.0% cap · market cap 10.02%
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
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 32738, FL
47,284
Population
16,965
Households
2.8
Avg Household Size
40
Median Age
18%
College-Educated
91%
High-School Grad
25.8 sq mi
ZIP Area
1,833
Density / Sq Mi
$76,394
Median Household Income
$39,348
Median Earnings
$1,608
Median Rent
$257,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Retail space - An open interior is paired with a secured exterior area for storage.
Where is this retail space located?
The property is located at 2840 Elkcam Blvd Deltona, FL.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 7,160 SF of retail space with an open layout; Secured outdoor storage area; Situated on 1.15 acres in Deltona, Florida
