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    2124 East Pkwy DeLand, FL 32724
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    2124 East Pkwy, DeLand, FL 32724

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    • Commercial real estate
    Off-Market
    Property ID
    US18-7544293
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2124 East Pkwy

    Property type
    Commercial real estate

    Description

    This exceptional 11,251.55 square foot lot, located at 2124 East Parkway in DeLand, Florida (zip code 32724), presents a unique opportunity for commercial or residential development. Situated in Daytona Park Estates, this property boasts significant advantages for immediate construction. The land has already been cleared, saving considerable time and expense in the initial phases of any project. Furthermore, pre-existing architectural plans are in place, streamlining the design and permitting process. A deposit has been secured on the necessary trusses, and a deposit is also in place for a well, ensuring crucial infrastructure elements are well underway. To further expedite the building process, the environmental study has been completed, eliminating a significant hurdle in obtaining the necessary permits. This property is ideally positioned for a swift transition from planning to construction, making it an attractive investment for developers seeking a fast-track project with significant groundwork already completed. The property's location in Volusia County, Florida, offers access to a growing market and convenient access to local amenities. This is a truly turnkey opportunity for those seeking a streamlined path to development. The property is zoned for both commercial and residential use, offering flexibility for a variety of development options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    DeLand
    County
    Volusia
    State
    Florida
    Longitude
    -81.245453
    Latitude
    29.066846

    Comparable in this City

    • Contact for pricing

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      Duplex Near Stetson University

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      DeLand Mixed-Use Investment Opportunity

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      Mixed-Use Property on Kepler Road

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      DeLand Land: Prime Investment Opportunity

      0.26-acre lot, great investment potential.
      0 10Th Ave, DeLand, FL 32724
      View Details
    • $219,000
      1,200 SF

      Duplex Near Stetson University

      Duplex with long-term tenants, close to university and downtown.
      1403 E Voorhis Ave, Deland, FL 32724
      View Details
    • $1,300,000

      DeLand Mixed-Use Investment Opportunity

      Mixed-use property with income potential in downtown DeLand.
      128 E Rich Ave, Deland, FL 32724
      View Details
    • Contact for pricing
      1,645 SF

      Mixed-Use Property on Kepler Road

      Mixed-use property on busy road, potential for office or residential.
      1855 N Kepler Rd, Deland, FL 32724
      View Details

    Similar Nearby for Lease

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      1,400 SF

      DeLand Office Space Available

      Office space available for lease in DeLand, Florida.
      1961 S Woodland Blvd, Deland, FL 32724
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      8,432 SF

      DeLand Office Building For Rent

      Two-story office building near historic downtown DeLand.
      124 S Amelia Ave, Deland, FL 32724
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    • $25 SF/Yr
      6,262 SF

      Renovated Freestanding Building For Lease

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      Retail and Office Space Available

      Office and retail spaces for lease in Deland, Florida.
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    • Contact for pricing

      Downtown DeLand Office/Retail Space

      Renovated office and retail spaces in historic downtown DeLand.
      100 E New York Ave, Deland, FL 32724
      View Details
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    DeLand, FL 32724
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    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
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