8-Unit Apartment Property with New
For Sale
$1,400,000
830 N CLAKE Street, Deland, FL 32724
Commercial Sale, DELAND, FL
Property Size5,848 SF
Lot Size0.53 Acres
Price / SF$239.40
Days on Market118
Property Features for 830 N CLAKE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Refrigerator
Subdivision
CODRINGTONS BLK 17 DELAND
Directions
17/92 to Plymouth rd. East on Plymouth right on Clake. Behind the Good Samaritan buidling.
Standard status
Active
APN
7009-28-03-0020
Size
5,848 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 2 & 7 & S 5 FT OF LOT 3 BLK C CODRINGTONS SUB BLK 17 DELAND MB 4 PG 31 PER OR 5081 PG 0029 PEROR 6965 PG 4849
Tax Annual Amount
8093
Legal Description
LOTS 2 & 7 & S 5 FT OF LOT 3 BLK C CODRINGTONS SUB BLK 17 DELAND MB 4 PG 31 PER OR 5081 PG 0029 PEROR 6965 PG 4849
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
8
Flooring type
Tile - Ceramic, Carpet
Building materials
Block
Listing Agency:
CARDINAL ROW REAL ESTATE
(386) 873-7033
Listed By:
Mitch Feinsod · License #3288255
(386) 473-6100
Added: May 1
Changed: Aug 26
Last Checked: Aug 26 at 5:06PM
MLS# V4948862
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8-unit apartment property includes two buildings totaling 5,848 square feet on 0.53 acres. The unit mix consists of 2 efficiencies, two 2-bedroom/2-bath units, and four 2-bedroom/1-bath units. Both buildings have new roofs, while most apartments feature newer central air-conditioning systems. Tenants have individual electric meters, and the property is served by public water and public sewer. Block construction, ceramic tile and carpet flooring, and refrigerator appliances are also present.
Built in 1980, the property is located at 830 N CLAKE Street in DeLand, Florida, adjacent to Stetson University. Cooling systems include central air, window units, and wall/window units.
Built in 1980, the property is located at 830 N CLAKE Street in DeLand, Florida, adjacent to Stetson University. Cooling systems include central air, window units, and wall/window units.
Key Highlights
- 8‑unit apartment property across two buildings
- 5,848 square feet on 0.53 acres
- Unit mix includes 2 efficiencies, two 2‑bedroom/2‑bath units, and four 2‑bedroom/1‑bath 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
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings offer a varied unit mix, individual electric meters, and public water and sewer service.
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: 8‑unit apartment property across two buildings; 5,848 square feet on 0.53 acres; Unit mix includes 2 efficiencies, two 2‑bedroom/2‑bath units, and four 2‑bedroom/1‑bath units
