Office Building with Open Floor
For Sale
$420,000
116 Center Street, Daytona Beach, FL 32117
Commercial Sale, Daytona Beach, FL
Property Size2,164 SF
Lot Size60,232.00 Acres
Price / SF$194.09
Days on Market768
Property Features for 116 Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Professional/Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot, Guest, Gated
Security features
Security System
Fencing
Chain Link
Directions
Located between Nova Rd & Ridgewood off of Mason Ave
Subdivision
35 - Mason to LPGA E of 95
Standard status
Active
APN
4244-01-33-0016
Size
2,164 SF
Lot size
60,232.00 Acres
Taxes and HOA fees
Tax Description
N 60 FT OF S 384 FT OF E 231.3 FT OF LOT 1 BLK 33 M & C HOLLY HILL MB 2 PG 90 PER OR 4120 PG 2575 PER D/C 6122 PG 0537 PER OR 6122 PG 0538 PER OR 6366 PG 2874 PER OR 6975 PG 0022
Legal Description
N 60 FT OF S 384 FT OF E 231.3 FT OF LOT 1 BLK 33 M & C HOLLY HILL MB 2 PG 90 PER OR 4120 PG 2575 PER D/C 6122 PG 0537 PER OR 6122 PG 0538 PER OR 6366 PG 2874 PER OR 6975 PG 0022
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Flooring type
Tile, Concrete
Building materials
Block
Roof type
Rolled Hot Mop
Listing Agency:
Adams, Cameron & Co., Realtors
(386) 258-5500
Listed By:
Dan Lyonnais
(386) 852-7932
Added: Jul 17, 2024
Changed: Aug 20
Last Checked: Aug 23 at 3:06PM
MLS# 1201610
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.
This block office building contains 2,164 square feet with multiple private office areas and additional open floor space. Tile and concrete flooring, central heating, central air, two bathrooms, and a rolled hot-mop roof are among the existing improvements. The building dates to 1964 and includes a chain-link-fenced yard area.
Located at 116 Center Street in Daytona Beach, the property has a parking lot with guest spaces and gated access. It also adjoins another parallel street, providing a second edge to the site. Public water and public sewer serve the property, with electricity available.
Located at 116 Center Street in Daytona Beach, the property has a parking lot with guest spaces and gated access. It also adjoins another parallel street, providing a second edge to the site. Public water and public sewer serve the property, with electricity available.
Key Highlights
- 2,164‑square‑foot office building constructed in 1964
- Multiple office rooms plus open floor space
- Central heating and central air
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
$32,428
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
7.72%
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%
$648,560
$648.6K
Cap Rate 7%
$463,257
$463.3K
Cap Rate 9%
$360,311
$360.3K
Market Conditions
NOI Build-Up for 2,164 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
$46.7K $21.60/SF
− Vacancy
−$3.5K −$1.62/SF
EGI
$43.2K $19.98/SF
− OpEx
−$10.8K −$5.00/SF
NOI
$32.4K $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%
$648,560
Cap Rate 7%
$463,257
Cap Rate 9%
$360,311
Alternative Uses
Best Use
Office B
$463.3K
$405.4K – $540.5K
NOI $32,428 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$638.1K
$558.3K – $744.4K
NOI $44,665 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
927
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 - Office property with multiple rooms, flexible open-area configuration, and a gated parking lot.
Where is this office building located?
The property is located at 116 Center Street Daytona Beach, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2,164‑square‑foot office building constructed in 1964; Multiple office rooms plus open floor space; Central heating and central air
