Multifamily Building Near
For Sale
$1,400,000
830 N Clake Street, Deland, FL 32724
Two-building multifamily property with new roof improvements and tenant electric metering for straightforward operational setup.
Property Size5,848 SF
Price / SF$239.40
Days on Market103
Property Features for 830 N Clake Street
General Information
Standard status
Active
Size
5,848 SF
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Multifamily Units
8
Building Details
Year Built
1980
Listing Agency:
CARDINAL ROW REAL ESTATE
(386) 873-7033
Listed By:
Mitch Feinsod · License #3288255
Source:
Xome
Added: Apr 27
Changed: Jul 10
Last Checked: Jun 15 at 4:27AM
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 CARDINAL ROW REAL ESTATE
Investment Insights
Based on property information with market context.
This for-sale multifamily property consists of two buildings in a Block 8 unit configuration. The seller reports new roofs on both buildings. Unit features include newer central air conditioning in most units, and tenants have their own electric meters, with public utilities available. The current unit mix includes two efficiencies, two two-bedroom/two-bath units, and four two-bedroom/one-bath units.
The property is located in Deland, Florida, and is described as adjacent to Stetson University. The combination of a multi-unit setup and separate tenant electric metering can simplify day-to-day utilities management compared with shared metering arrangements.
For tenants, buyers, or operators seeking a compact income property, this layout provides multiple two-bedroom options alongside efficiency units. The seller also provides a pro forma income figure of $11,000 per month; prospective purchasers should review operating details and assumptions during due diligence. Call for an easy showing to evaluate the condition, unit finishes, and overall suitability for your leasing plan.
The property is located in Deland, Florida, and is described as adjacent to Stetson University. The combination of a multi-unit setup and separate tenant electric metering can simplify day-to-day utilities management compared with shared metering arrangements.
For tenants, buyers, or operators seeking a compact income property, this layout provides multiple two-bedroom options alongside efficiency units. The seller also provides a pro forma income figure of $11,000 per month; prospective purchasers should review operating details and assumptions during due diligence. Call for an easy showing to evaluate the condition, unit finishes, and overall suitability for your leasing plan.
Key Highlights
- Two‑building multifamily property (Block 8) with new roofs on both buildings
- Unit mix includes 2 efficiencies, 2 two‑bed/2‑bath units, and 4 two‑bed/1‑bath units
- Most units have newer central AC; cooling also includes central air and window/wall units
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
$44,562
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
3.18%
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%
$891,240
$891.2K
Cap Rate 7%
$636,600
$636.6K
Cap Rate 9%
$495,133
$495.1K
Market Conditions
NOI Build-Up for 5,848 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
$90.5K $15.48/SF
− Vacancy
−$9.5K −$1.63/SF
EGI
$81.0K $13.85/SF
− OpEx
−$36.5K −$6.23/SF
NOI
$44.6K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
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%
$891,240
Cap Rate 7%
$636,600
Cap Rate 9%
$495,133
Alternative Uses
Best Use
Apartment 5plus
$636.6K
$557.0K – $742.7K
NOI $44,562 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,703 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
529
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with new roof improvements and tenant electric metering for straightforward operational setup.
Where is this apartment building located?
The property is located at 830 N Clake Street Deland, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑building multifamily property (Block 8) with new roofs on both buildings; Unit mix includes 2 efficiencies, 2 two‑bed/2‑bath units, and 4 two‑bed/1‑bath units; Most units have newer central AC; cooling also includes central air and window/wall units
