For Sale
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1398 Woodland BlvdDeLand, FL 32720

DeLand Office Building, High Redevelopment Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
Investor opportunity: Acquire the fee simple interest in Woodland Plaza, a 74,593-square-foot, single-story Class B office building situated on a 17-acre lot in DeLand, Florida. This property, located at 1398 S. Woodland Blvd (zip code 32720), boasts excellent visibility and accessibility with six access points from Woodland Boulevard and New Hampshire Avenue. Currently 58% occupied with a single tenant under a NNN lease expiring January 31, 2029 (4.2 years remaining), the property generates a current NOI of $481,141. The net rentable square footage is 43,113 square feet. The property features ample parking with 748 spaces and is zoned C-2AC, maximizing redevelopment potential. Built in 1973, this asset presents a unique opportunity to capitalize on below-market tenant rents and explore the development of several potential outparcels. On-site drainage is already in place. This redevelopment opportunity allows for existing income generation while planning for future development after the current lease expires.

Highlights

  • Fee simple ownership of 74,593 SF Class B office building on 17 acres in DeLand, FL (32720).
  • NNN lease with 4.2 years remaining, generating $481,141 NOI.
  • 43,113 rentable square feet, 58% occupied.
  • 748 parking spaces and C-2AC zoning allows for redevelopment.
  • Below-market rents and multiple outparcel development opportunities.
  • On-site drainage.

Property Details for 1398 Woodland Blvd

Property type
Office properties
Square Feet
74,593 SF
Class
B
Year Built
1973
Buildings
1
Stories
1
Lot Size (sq. ft)
740,520 SF

Location Insight

City
DeLand
County
Volusia
State
Florida
Latitude
29.0042246
Longitude
-81.304008
1398 Woodland Blvd, DeLand, Florida

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1398 Woodland Blvd
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