BR-1 Office
For Sale
$399,000
618 N Wild Olive Avenue W, Daytona Beach, FL 32118
COMMERCIAL - Daytona Beach, FL
Property Size2,508 SF
Lot Size0.25 Acres
Price / SF$159.09
Days on Market160
Property Features for 618 N Wild Olive Avenue W
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot, Off Street
Subdivision
East Daytona
Lot features
Historic Area
Directions
OFF SEABREEZE BLVD, DAYTONA BEACH
Standard status
Active
APN
5305-01-35-0120
Size
2,508 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 10 FT OF LOT 5 & LOT 12 BLK 35 EAST DAYTONA MB 2 PG 106 PER OR 4466 PG 4868 PER OR 6364 PG 3071 PER OR 6368 PGS 2748-2762 INC PER OR 7178 PG 4765 PER OR 7791 PG 2108
Tax Annual Amount
5174
Legal Description
W 10 FT OF LOT 5 & LOT 12 BLK 35 EAST DAYTONA MB 2 PG 106 PER OR 4466 PG 4868 PER OR 6364 PG 3071 PER OR 6368 PGS 2748-2762 INC PER OR 7178 PG 4765 PER OR 7791 PG 2108
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1966
Floors in Building
1
Building materials
Brick, Frame, Stucco
Listing Agency:
Miller Real Estate and Assoc.
(386) 677-3002
Listed By:
Andy Miller
(386) 677-3002
Added: Feb 27
Changed: Aug 5
Last Checked: Aug 6 at 7:06PM
MLS# 1223526
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 2,508-square-foot office building sits on a 0.25-acre parcel and was constructed in 1966. The property has brick, frame, and stucco construction, with central air conditioning and central electric heat. Public water and public sewer serve the site, while parking is provided through an on-site lot and off-street spaces.
Zoned BR-1 for business retail, the property supports professional office, personal services, senior center, art gallery, second-hand retail, martial arts, and adult or child care uses as identified in the property information. The building is located at 618 N Wild Olive Avenue W in Daytona Beach, near banks and restaurants and two blocks from the ocean in the area's tourist district.
Zoned BR-1 for business retail, the property supports professional office, personal services, senior center, art gallery, second-hand retail, martial arts, and adult or child care uses as identified in the property information. The building is located at 618 N Wild Olive Avenue W in Daytona Beach, near banks and restaurants and two blocks from the ocean in the area's tourist district.
Key Highlights
- 2,508‑square‑foot office building on a 0.25‑acre parcel
- BR‑1 business‑retail zoning
- Built in 1966 with brick, frame, and stucco construction
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
$23,622
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
5.92%
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%
$472,440
$472.4K
Cap Rate 7%
$337,457
$337.5K
Cap Rate 9%
$262,467
$262.5K
Market Conditions
NOI Build-Up for 2,508 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
$37.6K $15.00/SF
− Vacancy
−$3.9K −$1.55/SF
EGI
$33.7K $13.46/SF
− OpEx
−$10.1K −$4.04/SF
NOI
$23.6K $9.42/SF
Area
Volusia County, FL
Vacancy
10.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$472,440
Cap Rate 7%
$337,457
Cap Rate 9%
$262,467
Alternative Uses
Best Use
Office B
$536.9K
$469.8K – $626.4K
NOI $37,582 @ 7.0% cap · market cap 9.42%
Second Best
Retail
$337.5K
$295.3K – $393.7K
NOI $23,622 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$739.5K
$647.1K – $862.8K
NOI $51,765 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 32118, FL
17,906
Population
16,390
Households
1.1
Avg Household Size
58
Median Age
31%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
4,263
Density / Sq Mi
$60,418
Median Household Income
$36,153
Median Earnings
$1,283
Median Rent
$339,500
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 - Business-retail zoning supports professional office and personal-service uses near restaurants, banks, and the oceanfront tourist area.
Where is this office building located?
The property is located at 618 N Wild Olive Avenue W Daytona Beach, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,508‑square‑foot office building on a 0.25‑acre parcel; BR‑1 business‑retail zoning; Built in 1966 with brick, frame, and stucco construction
