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    Property profile & analytics

    865 New York Ave DeLand, FL 32720

    • Retail properties
    • 39,860 SF
    • 2.73 lot acres
    For Sale
    View listing
    $3,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5032980
    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 properties

    Property Details for 865 New York Ave

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.73 lot acres
    Property size
    39,860 SF
    Property type
    Retail properties
    APN
    7008-66-00-0050
    APU
    700866000050

    Description

    This exceptional DeLand, Florida property offers 40,494 square feet of versatile space, ideally suited for a variety of commercial uses. Located at 865 W New York Ave (SR 44), this freestanding building sits on a 2.73-acre lot and boasts 128 feet of frontage, ensuring high visibility. Built in 1961, the masonry structure with a steel core features a 16-foot ceiling height, a fire sprinkler system, and ample parking (80+ spaces, plus approximately 20 shared spaces). The interior includes finished office space, open warehouse areas, storage, and nine restrooms. The property is divisible and offers potential for condominium conversion. Its prime location offers easy access to I-4, Downtown DeLand's Historic Garden District, AdventHealth DeLand Hospital, Stetson University, and DeLand's city center. The property also presents opportunities for out-parcel development and drive-through configurations. Four ingress/egress points enhance accessibility. Current survey, Phase I environmental, and structural reports are available. The asking price is $3,200,000, and lease options are negotiable. The property's zoning information is available upon request. This is a value-add opportunity with potential for commercial retail, service, and storage uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,485,000
      Market price range: $2.49M - $6.94M
      AI Estimate
      $2,016,000
      Market price range: $2.02M - $6.33M

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

    Location Insight

    • Map
    • Local Demand
    City
    Deland
    County
    Volusia
    State
    Florida
    Longitude
    -81.3196
    Latitude
    29.0288
    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
    $25,906
    $357,231
    $1,024,223
    $1,381,454
    -
    $357,231
    $1,024,223
    $1,381,454

    Comparable in this City

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      Taylor Rd

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    • Value Estimation by Request
      269,083 SF

      2701 Woodland Blvd

      Retail properties • 269,083 SF
      2701 Woodland Blvd, DeLand, FL 32720
      View Details
    • Value Estimation
      $1,650,000
      13,464 SF

      2497 Woodland Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 13,464 SF
      2497 Woodland Blvd, Deland, FL 32720-8637
      View Details
    • Value Estimation
      $835,000
      10,163 SF

      124 Florida Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 10,163 SF
      124 Florida Ave, Deland, FL 32720-4208
      View Details
    • Value Estimation by Request
      3,499 SF

      126 Ohio Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,499 SF
      126 Ohio Ave, Deland, FL 32720-3459
      View Details
    • Value Estimation by Request
      2,171 SF

      2819 State Rd 44

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,171 SF
      2819 State Rd 44, Deland, FL 32720-8830
      View Details

    Similar Nearby for Sale

    • $3,200,000
      40,494 SF

      DeLand Industrial Property For Sale

      Prime 40,494 SF Flex Warehouse
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    • $500,000
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      Prime DeLand Development Site

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      DeLand Commercial Opportunity For Sale

      Restaurant, bar, or retail opportunity in DeLand, Florida.
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    Similar Nearby for Lease

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    • Contact for pricing
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    • $1.07 SF/Yr
      7,818 SF

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      7,818 sq ft, Prime Location, $1600/month
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      DeLand Commercial Space For Rent

      Commercial space near Downtown DeLand, suitable for various businesses.
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      View Details
    • Contact for pricing
      90,000 SF

      DeLand Restaurant Pad - Prime Location

      Restaurant space, flexible sizes, high visibility.
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      View Details
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    865 New York Ave
    DeLand, FL 32720
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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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