Corporate Walgreens with Rent
For Sale
Contact for pricing
300 E New York Ave, Deland, FL 32724
Corporate Walgreens property for sale with rent escalation.
Property Size15,035 SF
Price / SF$362.90
Days on Market154
Property Features for 300 E New York Ave
General Information
Standard status
Active
Size
15,035 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$327,375
Building Details
Year Built
2011
Tenancy
Single
Listing Agency:
Orion Real Estate Group
Listed By:
Duane Comprosky · License #BK3279960
Source:
Crexi
Added: Mar 11
Changed: Aug 11
Last Checked: Aug 11 at 6:48PM
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 Orion Real Estate Group
Investment Insights
Based on property information with market context.
This commercial property is a corporate Walgreens location. The property has a size of 15,035 square feet and features rent increases.
Key Highlights
- Corporate Walgreens Tenant
- Rent Increases
- Built in 2011
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
$228,312
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
4.18%
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%
$4,566,240
$4.6M
Cap Rate 7%
$3,261,600
$3.3M
Cap Rate 9%
$2,536,800
$2.5M
Market Conditions
NOI Build-Up for 15,035 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
$330.2K $21.96/SF
− Vacancy
−$25.8K −$1.71/SF
EGI
$304.4K $20.25/SF
− OpEx
−$76.1K −$5.06/SF
NOI
$228.3K $15.19/SF
Area
Volusia County, FL
Vacancy
7.80%
Lease Rate
$21.96 /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%
$4,566,240
Cap Rate 7%
$3,261,600
Cap Rate 9%
$2,536,800
Alternative Uses
Best Use
Specialty Retail
$3.26M
$2.85M – $3.81M
NOI $228,312 @ 7.0% cap · market cap 4.18%
Second Best
Retail
$2.02M
$1.77M – $2.36M
NOI $141,607 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$4.43M
$3.88M – $5.17M
NOI $310,322 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,751
Businesses Nearby
105k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 37%
Home Improvements & Furnishings 9%
Hotels & Casinos 5%
Checkers
Dining
9,003 visits/mo
0.3 miles
Shell
Shops & Services
9,000 visits/mo
0.2 miles
Firehouse Subs
Dining
8,924 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,567 visits/mo
0.4 miles
Bank of America
Shops & Services
8,421 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Drug store - Corporate Walgreens property for sale with rent escalation.
Where is this drug store located?
The property is located at 300 E New York Ave Deland, FL.
What is the asking price?
The asking price for this property is $5,456,250.
What are key features of this property?
This property features: Corporate Walgreens Tenant; Rent Increases; Built in 2011
