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Property profile & analytics
OFF-MARKET
Estimated value
$2,285,000
Investment properties
1645 Lexington Ave Deland, FL 32724-2106
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US18-0583414
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,556 SF
Lot
1.42 ac (62,064 SF)
Zoning code
M-1
APN
6034-02-00-0060
UPID
US18-0583414
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
United Parachute Technologies Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.20M
Comparable Approach
Comparable
$2.76M
Blend (final)
Blend
$2.29M
Owner & transaction history
Wrb Leasing LLC · 16 yrs held
Wrb Leasing LLC
since 2009
4 recorded transactions
Zoning & alternative use
M-1 · Deland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+59.1%
Restaurant
$2.8M
+52.6%
Medical building
$2.2M
+19.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Deland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Deland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,380,000
6.5%
$2,195,000
7%
$2,040,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,805,000
Current use
AUTO REPAIR, GARAGE
$2,870,000
Change: +59% · Conversion: Difficult
RESTAURANT
$2,755,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$2,150,000
Change: +19% · Conversion: Easy
WAREHOUSE, STORAGE
$2,140,000
Change: +19% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,070,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$1,990,000
Change: +10% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,670,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$2.29M
Range $2.06M – $2.51M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$198 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$27,700
Tax year 2023
Assessed value
$1,539,528
Assessed 2023
Previous assessed
$1,421,083
+8.3% YoY
Effective rate
1.80%
On assessed value
Assessed land
$120,514
Assessed improvement
$1,419,014
Land market value
$120,514
Improvement market value
$1,419,014
Total market value
$1,539,528
Applied tax rate
12.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Bathrooms
3
Total area
11,556 SF
Lot
1.42 ac (62,064 SF)
Zoning code
M-1
APN
6034-02-00-0060
UPID
US18-0583414
Jurisdiction
VOLUSIA
Zoning & alternative use
M-1 · Deland, FL
Zoning M-1 · permitted uses
M-1 · Deland, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Deland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$2.9M
RESTAURANT
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
3
Lot
1.42 ac
Current owner
From public records · entity-resolved
Wrb Leasing LLC
Entity
Mailing address
1645 LEXINGTON AVE, DELAND, FL 32724-2106
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2009
$501,359
Wrb Leasing LLC
Booth William R Trust
Warranty Deed
—
Jun 18, 2009
$509,429
Booth William R Trust
Booth,william R
Warranty Deed
related
—
—
—
William R Booth
—
Deed Of Trust
related
$318,848 · Bank Of America
—
—
William R Booth
—
Deed Of Trust
related
$200,000 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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