Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1520 State Rd 15a Deland, FL 32720-7513

    • Retail space
    • 3,609 SF
    • 0.41 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2023
    $400,000
    Value Estimations
    $445,000
    Show details
    Cap Rate Potential
    8.4%
    Retail space
    Location Intelligence
    Property ID
    US18-3145069
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 1520 State Rd 15a

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.41 lot acres
    Property size
    3,609 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    7020-00-00-0875
    APU
    702000000875

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $405,000
      ML approach
      $395,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $565,000
      6.5%
      $525,000
      7%
      $485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $462,000
      Market price range: $328k - $740k
      AI Estimate
      $336,000
      Market price range: $170k - $594k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $525,000
      Current use
      MEDICAL BUILDING
      $670,000
      Change: +28% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $645,000
      Change: +24% Conversion: Moderate
      WAREHOUSE, STORAGE
      $645,000
      Change: +23% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Deland
    County
    Volusia
    State
    Florida
    Longitude
    -81.3151
    Latitude
    29.0021
    CBSA code
    19660
    CBSA name
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,484
    $38,340
    $255,957
    $294,297
    -
    $38,340
    $255,957
    $294,297

    Comparable in this City

    • Value Estimation by Request
      80,000 SF

      Taylor Rd

      Individual retail properties • 80,000 SF
      0 Taylor Rd, DeLand, FL 32720
      View Details
    • Value Estimation by Request
      90,000 SF

      940 Greens Dairy Rd

      Neighborhood centers • 90,000 SF
      940 Greens Dairy Rd, DeLand, FL 32720
      View Details
    • Value Estimation
      $275,000
      6,326 SF

      350 Spg Gdn Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,326 SF
      350 Spg Gdn Ave, Deland, FL 32720-5029
      View Details
    • Value Estimation
      $240,000
      678 SF

      209 Woodland Blvd

      RETAIL STORES (PERSONAL SERVICES) • 678 SF
      209 Woodland Blvd, Deland, FL 32720-4218
      View Details
    • Value Estimation
      $210,000
      1,653 SF

      445 Beresford Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,653 SF
      445 Beresford Ave, Deland, FL 32720-7381
      View Details
    • Value Estimation
      $305,000
      1,922 SF

      115 Rich Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,922 SF
      115 Rich Ave, Deland, FL 32720-4212
      View Details

    Similar Nearby for Sale

    • $149,900
      2,813 SF

      DeLand Commercial Opportunity For Sale

      Restaurant, bar, or retail opportunity in DeLand, Florida.
      410 W Beresford Ave, Deland, FL 32720
      View Details
    • New
      $350,000
      988 SF

      DeLand Retail Opportunity For Sale

      Retail property in high-visibility location with strong traffic flow.
      490 N Spring Garden Ave, Deland, FL 32720
      View Details
    • $3,200,000
      40,494 SF

      Freestanding Building on New York Avenue

      40,494 SF building on 2.73 acres near Downtown DeLand.
      865 W New York Ave, Deland, FL 32720
      View Details
    • $500,000
      80,000 SF

      Prime DeLand Development Site

      80,000 SF Vacant Storefront, B4 Zoning
      0 Taylor Rd, DeLand, FL 32720
      View Details
    • $1,900,000
      2.75 Acres

      DeLand Outparcel: Prime Commercial Land

      2.75 Acres, High Visibility, $1.9M
      1702 Woodland Blvd, DeLand, FL 32720
      View Details
    • $637,200
      4,248 SF

      Stand Alone Building in Deland

      4,248 SF building with C-2 zoning in Deland, FL.
      105 W Calvin St, Deland, FL 32720
      View Details

    Similar Nearby for Lease

    • $30,000

      DeLand Commercial Space For Rent

      Commercial space near Downtown DeLand, suitable for various businesses.
      209 S Florida Ave, Deland, FL 32720
      View Details
    • $22 SF/Yr
      78,924 SF

      Retail Spaces at Gateway Village

      Retail spaces for lease at a busy intersection.
      1548 N Woodland Blvd, Deland, FL 32720
      View Details
    • Contact for pricing
      3,592 SF

      Retail End Cap Space Available

      3,592 SF retail space available for immediate delivery.
      2701-2735 S Woodland Blvd, Deland, FL 32720
      View Details
    • $36,000

      Prime Commercial Space For Lease

      2,000 +/- sq ft commercial space on high-traffic road.
      1105 S Woodland Blvd, Deland, FL 32720
      View Details
    • Contact for pricing
      90,000 SF

      DeLand Restaurant Pad - Prime Location

      Restaurant space, flexible sizes, high visibility.
      940 Greens Dairy Rd, DeLand, FL 32720
      View Details
    • Contact for pricing
      7,644 SF

      Freestanding Retail Building on US 17

      7,664 SF freestanding retail building with ample parking.
      3101 N Woodland Blvd, Deland, FL 32720
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1520 State Rd 15a
    Deland, FL 32720-7513
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.