DeLand Restaurant/Retail
For Sale
$499,900
Pending
918 S ADELLE Ave, Deland, FL 32720
2340 SF building near Downtown DeLand and Stetson University.
Property Size2,340 SF
Lot Size0.49 Acres
Days on Market166
Property Features for 918 S ADELLE Ave
General Information
Standard status
Pending
Size
2,340 SF
Lot size
0.49 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,621
Building Details
Building Size
2,340 SF
Year Built
1910
Stories
1
Listing Agency:
Robert Slack LLC
(386) 453-0623
Listed By:
Charlene Magalski · License #3085090
(386) 453-0623
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 6 at 5:57AM
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 Robert Slack LLC
Investment Insights
Based on property information with market context.
This 2340 square foot building presents a business opportunity with potential for restaurant or retail use. The property features two new 5-ton HVAC units, a recently updated electrical panel, and a roof that is approximately 5 years old. It is handicap accessible and equipped with hurricane shutters. The current zoning is BPUD/Restaurant. The building is located minutes from Downtown Deland Historic District, Stetson University, and Melching Field at Conrad Park, benefiting from high traffic flow. Shopping and restaurants are located nearby. Prospective buyers should independently verify all information and property details with the County Planning/Zoning department to confirm usage restrictions.
Key Highlights
- Prime location minutes from Downtown Deland Historic District, Stetson University, and Melching Field at Conrad Park, ensuring high traffic flow.
- Current zoning is BPUD/Restaurant, offering immediate business potential.
- The building features two brand new 5‑ton HVAC 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
$35,534
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
7.11%
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%
$710,680
$710.7K
Cap Rate 7%
$507,629
$507.6K
Cap Rate 9%
$394,822
$394.8K
Market Conditions
NOI Build-Up for 2,340 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
$51.4K $21.96/SF
− Vacancy
−$4.0K −$1.71/SF
EGI
$47.4K $20.25/SF
− OpEx
−$11.8K −$5.06/SF
NOI
$35.5K $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%
$710,680
Cap Rate 7%
$507,629
Cap Rate 9%
$394,822
Alternative Uses
Best Use
Specialty Retail
$507.6K
$444.2K – $592.2K
NOI $35,534 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.0K
$603.7K – $805.0K
NOI $48,298 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32720, FL
33,568
Population
13,962
Households
2.4
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
66.3 sq mi
ZIP Area
506
Density / Sq Mi
$67,512
Median Household Income
$39,159
Median Earnings
$1,177
Median Rent
$280,600
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.
Frequently Asked Questions
What type of property is this?
Restaurant - 2340 SF building near Downtown DeLand and Stetson University.
Where is this restaurant located?
The property is located at 918 S ADELLE Ave Deland, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Prime location minutes from Downtown Deland Historic District, Stetson University, and Melching Field at Conrad Park, ensuring high traffic flow.; Current zoning is BPUD/Restaurant, offering immediate business potential.; The building features **two brand new 5‑ton HVAC units.**
