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    570 Memorial Circle unit 200 Ormond Beach, FL 32174

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    For Lease
    $3,601/Mo $1.86 SF/Yr (calc)

    COMMERCIAL - Ormond Beach, FL

    Type:Office
    Property size:
    23,278 SF
    Lot size:
    1.21 Acres
    Added:
    Jan 29, 2026
    Days on Market:
    93
    Last Refresh:
    May 2 at 10:06 pm

    Property Features for 570 Memorial Circle unit 200

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    4241-01-01-0065
    Size
    23,278 SF
    Lot size
    1.21 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    IRREG PARCEL E OF MEMORIAL CIR BEING 303.45 FT ON N/L ADJ TO S/L OF SHADOW LAKES BLVD & 117.62 FT ON E/L GRANT LOTS 11 1/2 & 12 HENRY YOUNG GRANT ASSRS SUB ORMOND MB 2 PG 118 PER OR 1899 PG 1372 PER OR 5812 PGS 3089-3093 INC PER OR 5827 PGS 2556-2558 INC
    Tax Annual Amount
    30308

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1977

    We can help!

    Listing Contact
    G.G. Galloway
    G.G. Galloway

    Listing agent G.G. Galloway

    Listing office Coldwell Banker Commercial Benchmark 570 Memorial Cir Suite 300, Ormond Beach, FL

    Listing date Jan 29, 2026

    MLS# 1222338

    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.

    Overview

    Ormond Beach Medical Office Space

    Located in central Ormond Beach, this is an exceptional medical office space. The available unit is a 2,485 square foot second-floor space within a three-story multi-tenant office building. The unit was previously used as a medical office and includes a waiting room for patients. The property is situated close to Trails Shopping Center off Nova Road and near Granada Boulevard. On-site management is provided. The tenant is responsible for a share of the utilities. Pass-throughs for 2025 are estimated at $4.89 per square foot per year. Lease terms are negotiable, including the length of the term. The property is located in Ormond Beach, Volusia County, Florida, with a lot size of 1.21 acres. The building has a total area of 23,278 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Health Care Inc Pharmacy Jacki L. Nesbitt, ... Physician William P. Brennan, ... Psychotherapist Primecare Rehab Physician Hector A. Rosado Jr, ... Physician

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Shadow Lake Animal Hospital — 125 N Nova Rd, Ormond Beach, FL 32174
    • Volenec Debra DVM — Ormond Beach, FL 32174
    • Fleuchaus Nixo Leslie DVM — 380 W Granada Blvd, Ormond Beach, FL 32174

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.081044
    Latitude
    29.283668

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    FAQs

    What type of property is this?
    Medical Office Space - Medical office space available in central Ormond Beach location.
    Where is this medical office space located?
    The property is located at 570 Memorial Circle unit 200 Ormond Beach, FL.
    What is the lease rate?
    The lease rate is $3,601 /Mo.
    What are key features of this property?
    This property features: Move‑in ready medical office space in central Ormond Beach location.; 2,485 SF second‑floor unit with existing waiting room.; On‑site management for tenant convenience.
    (386) 672-8530
    We can help!
    Listing Contact
    G.G. Galloway
    G.G. Galloway
    Learn More
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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.

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    570 Memorial Circle unit: 200, Ormond Beach, FL 32174

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