Historic Professional Office
For Sale
$1,850,000
1112 Riverside Drive, Holly Hill, FL 32117
Commercial Sale, Holly Hill, FL
Property Size7,060 SF
Lot Size0.43 Acres
Price / SF$262.04
Days on Market490
Property Features for 1112 Riverside Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Bathrooms
9
Full bathrooms
9
Rooms
Bathroom 4, Bathroom 2, Bathroom 7, Bathroom 8, Bathroom 5, Bathroom 9, Bathroom 6, Bathroom 3, Bathroom 1
Parking features
Parking Lot
Subdivision
Walkers Holly Hill
Lot features
Historic Area
Directions
From I 95 Head East on LPGA. Take a Left on Riverside drive and Building is on the left.
Standard status
Active
APN
4242-50-01-0020
Size
7,060 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E 184.4 FT ON S/L & 195.3 FT ON N/L OF LOT 2 BLK 1 WALKERS HOLLY HILL MB 1 PG 30 PER OR 4148 PG 4645 PER OR 5437 PG 0532 PER OR 6730 PG 1740 PER OR 8397 PG 1706
Tax Annual Amount
13821
Legal Description
E 184.4 FT ON S/L & 195.3 FT ON N/L OF LOT 2 BLK 1 WALKERS HOLLY HILL MB 1 PG 30 PER OR 4148 PG 4645 PER OR 5437 PG 0532 PER OR 6730 PG 1740 PER OR 8397 PG 1706
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Multi Units, Zoned, Central Air
Water source
Public
Building Details
Year built
1933
Floors in Building
2
Number of units
7
Flooring type
Tile, Wood
Building materials
Concrete, Stucco
Roof type
Membrane
Listing Agency:
Coldwell Banker Coast Realty · Coldwell Banker Real Estate
(386) 275-1000
Listed By:
Tom S Grasberger · License #3323835
(386) 843-4346
Added: May 2, 2025
Changed: Aug 20
Last Checked: Sep 3 at 1:06AM
MLS# 1212940
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The Summit Professional Center is a 7,060-square-foot, historic-designated office building constructed in 1933 with concrete and stucco construction. Interior details include preserved wood flooring, craftsman-style arches, wainscoting, and tile finishes. Major building systems have been updated, including plumbing, electrical, roof, windows, and insulation. The property also includes central heating, zoned and central air conditioning, public water and sewer, a membrane roof, and an on-site parking lot.
The first floor is configured for a legal office with multiple office sizes, conference rooms, file rooms, and several entry and exit points. Five professional units occupy the second floor, which is fully leased. An owner's suite provides a kitchen, bathroom, living area, and river views. Across from Sunrise Park, the property benefits from views toward the river and park, along with access to additional public parking and a public dock.
The 0.43-acre property includes nine bathrooms, three kitchens or kitchenettes, and two laundry areas. The layout may accommodate up to 15 rental units, subject to applicable approvals.
The first floor is configured for a legal office with multiple office sizes, conference rooms, file rooms, and several entry and exit points. Five professional units occupy the second floor, which is fully leased. An owner's suite provides a kitchen, bathroom, living area, and river views. Across from Sunrise Park, the property benefits from views toward the river and park, along with access to additional public parking and a public dock.
The 0.43-acre property includes nine bathrooms, three kitchens or kitchenettes, and two laundry areas. The layout may accommodate up to 15 rental units, subject to applicable approvals.
Key Highlights
- 7,060‑square‑foot historic‑designated office building constructed in 1933
- 0.43‑acre property with on‑site parking across from Sunrise Park
- Second floor fully leased with five professional units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,794
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,115,880
$2.1M
Cap Rate 7%
$1,511,343
$1.5M
Cap Rate 9%
$1,175,489
$1.2M
Market Conditions
NOI Build-Up for 7,060 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$152.5K $21.60/SF
− Vacancy
−$11.4K −$1.62/SF
EGI
$141.1K $19.98/SF
− OpEx
−$35.3K −$5.00/SF
NOI
$105.8K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,115,880
Cap Rate 7%
$1,511,343
Cap Rate 9%
$1,175,489
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,794 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,718 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated infrastructure, river and park views, and flexible multi-office layout support varied professional operations.
Where is this office building located?
The property is located at 1112 Riverside Drive Holly Hill, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 7,060‑square‑foot historic‑designated office building constructed in 1933; 0.43‑acre property with on‑site parking across from Sunrise Park; Second floor fully leased with five professional units
