Apartment Building Adjacent to
For Sale
$1,400,000
830 N Clake Street DELAND, Deland, FL 32724
Block 8 apartment building with new roofs, central AC in most units, and tenant-paid electric meters.
Property Size5,848 SF
Price / SF$239.40
Days on Market36
Property Features for 830 N Clake Street DELAND
General Information
Standard status
Active
Size
5,848 SF
Additional Details
Business Included
Yes
Utilities to Site
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$8,092
Amenities
Carpet,Ceramic Tile
1
Public Records
true
Public
22956
0.53
false
Paved
Slab
City Street
5848
2
8
Building Details
Building Size
5,848 SF
Year Built
1980
Buildings
2
Stories
1
Listing Agency:
(904) 569-5862
Listed By:
Jennifer Barnett
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 6
Changed: Aug 9
Last Checked: Aug 10 at 2:29AM
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 Jennifer Barnett
Investment Insights
Based on property information with market context.
This Block 8 apartment building offers an income-producing residential mix with 2 efficiency units, two 2-bedroom / 2-bath units, and four 2-bedroom / 1-bath units. The property includes new roofs on both buildings. Most units have newer central AC, and each tenant has their own electric meter. Public utilities are provided.
The building is located at 830 N Clake Street in Deland, Florida, adjacent to Stetson University.
Based on the provided information, the proforma income is $11,000 per month. Please contact the listing broker for an easy showing.
The building is located at 830 N Clake Street in Deland, Florida, adjacent to Stetson University.
Based on the provided information, the proforma income is $11,000 per month. Please contact the listing broker for an easy showing.
Key Highlights
- Block 8 apartment building with 2 buildings and 8 units on a 0.53‑acre lot
- New roofs on both buildings
- Most units feature newer central A/C, plus air conditioning is available
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
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 - Block 8 apartment building with new roofs, central AC in most units, and tenant-paid electric meters.
Where is this apartment building located?
The property is located at 830 N Clake Street DELAND 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: Block 8 apartment building with 2 buildings and 8 units on a 0.53‑acre lot; New roofs on both buildings; Most units feature newer central A/C, plus air conditioning is available
