Renovated Flex Space with Two
For Sale
$580,000
153 US 1, Oak Hill, FL 32759
Commercial Sale, Oak Hill, FL
Property Size1,855 SF
Lot Size1.55 Acres
Price / SF$312.67
Days on Market438
Property Features for 153 US 1
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Assigned, Off Street, Parking Lot, Garage, RV
Lot features
Cleared
Directions
Take I-95 S to FL-442 E/Indian River Blvd in Edgewater. Take exit 244 from I-95 S Turn left onto FL-442 E/Indian River Blvd Follow S Ridgewood Ave to US-1 N in Oak Hill
Subdivision
97 - New Smyrna Beach S of Pioneer, W of 95
Standard status
Active
APN
950802000320
Size
1,855 SF
Lot size
1.55 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
8-19-35 ALL SOMERSET SUB MB 9 PG 226 EXC N 300 FT AKA PART O F LOTS 32 & 33 SUB W 1/2 OF N W 1/4 & INC VACATED ST PER OR 4 810 PGS 2162 PER OR 7561 PG 2343 PER OR 8079 PG 2672
Tax Annual Amount
4038
Legal Description
8-19-35 ALL SOMERSET SUB MB 9 PG 226 EXC N 300 FT AKA PART O F LOTS 32 & 33 SUB W 1/2 OF N W 1/4 & INC VACATED ST PER OR 4 810 PGS 2162 PER OR 7561 PG 2343 PER OR 8079 PG 2672
Building Details
Year built
1971
Floors in Building
1
Number of units
1
Listing Agency:
Dalton Wade Inc.
(888) 668-8283
Listed By:
Linda Castro · License #3392783
(978) 804-9232
Added: Jun 18, 2025
Changed: Aug 20
Last Checked: Aug 29 at 10:06AM
MLS# 1214701
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 1,855-square-foot flex property, built in 1971, has been substantially updated for commercial use. The layout includes a 12 x 14 office, two 28 x 17 bays, and two bathrooms, including a full bathroom with a shower. Improvements include a new metal roof, impact windows, updated electrical and plumbing fixtures, new water lines, and replacement of the well, septic system, and plumbing beneath the slab. Interior and exterior finishes were also refreshed with new flooring, paint, stucco, hardboard siding, and a rear porch.
The property offers direct access to US Highway 1 and includes multiple parking options, including assigned spaces, off-street parking, a parking lot, garage parking, and RV parking. Its Oak Hill location is in Volusia County.
The property offers direct access to US Highway 1 and includes multiple parking options, including assigned spaces, off-street parking, a parking lot, garage parking, and RV parking. Its Oak Hill location is in Volusia County.
Key Highlights
- 1,855‑square‑foot flex property with two 28 x 17 bays
- 12 x 14 office and two bathrooms, including a full bathroom with shower
- Substantial renovation includes new metal roof, impact windows, flooring, paint, and exterior finishes
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
$20,918
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
3.61%
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%
$418,360
$418.4K
Cap Rate 7%
$298,829
$298.8K
Cap Rate 9%
$232,422
$232.4K
Market Conditions
NOI Build-Up for 1,855 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
$35.2K $18.96/SF
− Vacancy
−$3.0K −$1.61/SF
EGI
$32.2K $17.35/SF
− OpEx
−$11.3K −$6.07/SF
NOI
$20.9K $11.28/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$418,360
Cap Rate 7%
$298,829
Cap Rate 9%
$232,422
Alternative Uses
Best Use
Flex RnD
$298.8K
$261.5K – $348.6K
NOI $20,918 @ 7.0% cap · market cap 3.61%
Second Best
Industrial
$157.8K
$138.1K – $184.1K
NOI $11,044 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$547.0K
$478.6K – $638.1K
NOI $38,287 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32759, FL
2,951
Population
1,471
Households
2
Avg Household Size
56
Median Age
15%
College-Educated
86%
High-School Grad
48.7 sq mi
ZIP Area
61
Density / Sq Mi
$61,968
Median Household Income
$38,929
Median Earnings
$1,316
Median Rent
$266,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated flex property with direct US Highway 1 access, two bathrooms, and on-site parking.
Where is this flex space located?
The property is located at 153 US 1 Oak Hill, FL.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 1,855‑square‑foot flex property with two 28 x 17 bays; 12 x 14 office and two bathrooms, including a full bathroom with shower; Substantial renovation includes new metal roof, impact windows, flooring, paint, and exterior finishes
