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    555 Spring Garden Ave DeLand, FL 32724

    For Sale
    $2,200,000

    9.17 Acres, 116-Unit Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 9.17-acre commercial land parcel presents a rare multi-family development opportunity in the thriving city of DeLand, Florida. Located at 555 N Spring Garden, this property is ideally situated within city limits, offering convenient access to essential amenities and infrastructure. The site boasts a permitted zoning of 05R-16 (Multiple Family Dwelling District), with a small portion zoned C-2 (General Commercial). The asking price is $2,200,000, translating to a land value of $5.51 per square foot. A significant advantage is the seller's indication that the City of DeLand previously approved a density of 116 units for this location, providing a strong foundation for a substantial development project. The property's proximity to a hospital (part of the Adventist Health System) and its walking distance to various restaurants further enhance its appeal and potential for attracting residents. Utilities are readily available, simplifying the development process. This prime location in DeLand, combined with its zoning and potential unit density, makes this a truly unique investment opportunity. The 32724 zip code ensures easy access to major transportation routes and other key areas of Volusia County. Don't miss this chance to acquire a highly desirable and strategically located parcel in a rapidly growing Florida market.

    Property Features for 555 Spring Garden Ave

    General Information

    Property type
    Land
    Lot Size
    399,445 SF

    HighLights

    • Adjacency to Adventist Health System hospital.
    • Walkable to numerous restaurants.
    • Unique investment opportunity in DeLand, FL.
    • Zoned for up to 116 residential units (per City of DeLand).
    • All major utilities readily available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    DeLand
    County
    Volusia
    State
    Florida
    Longitude
    -81.229853
    Latitude
    29.0612685

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    FAQs

    What type of property is this?
    Land - 9.17 Acres, 116-Unit Potential
    Where is this land located?
    The property is located at 555 Spring Garden Ave DeLand, FL.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Adjacency to Adventist Health System hospital.; Walkable to numerous restaurants.; Unique investment opportunity in DeLand, FL.
    Request Owner's contact information
    555 Spring Garden Ave DeLand, FL 32724
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    DeLand, FL 32724
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    555 Spring Garden Ave DeLand, FL 32724
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