Medical Office Suite With Flexible
For Sale
$485,000
802 Sterthaus Drive, Ormond Beach, FL 32174
Commercial Sale, Ormond Beach, FL
Property Size2,500 SF
Price / SF$194
Days on Market46
Property Features for 802 Sterthaus Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Directions
Exit I 95 and head East to Nova Rd, turn left and then 1st right onto Sterthaus Dr
Subdivision
44 - Ormond N of 40, S Tomoka River, E of US1
Standard status
Active
APN
424121000020
Size
2,500 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 2 MEMORIAL MED ARTS COMPLEX CONDO PER OR 2592 PG 311 PE R OR 2623 PG 1891
Tax Annual Amount
5561
HOA Fee
$417 Monthly
Legal Description
UNIT 2 MEMORIAL MED ARTS COMPLEX CONDO PER OR 2592 PG 311 PE R OR 2623 PG 1891
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Listing Agency:
Realty Pros Commercial
(386) 253-8565
Listed By:
Kayla Williams · License #3506971
(386) 338-1330
Added: Jul 16
Changed: Aug 20
Last Checked: Aug 30 at 6:06PM
MLS# 1228713
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 2,500-square-foot medical office suite at 802 Sterthaus Drive provides a practical layout for clinical or professional operations. The space includes six private offices or exam rooms, a reception and waiting area, a consultation room, built-in file storage, an administrative check-in area, and two restrooms. Three separate entry doors support distinct access arrangements within the suite.
Central air conditioning, a parking lot, public water, and public sewer are in place. The property is located in Ormond Beach, with access to surrounding residential areas, medical facilities, and major roadways.
Central air conditioning, a parking lot, public water, and public sewer are in place. The property is located in Ormond Beach, with access to surrounding residential areas, medical facilities, and major roadways.
Key Highlights
- 2,500 SF medical office suite at 802 Sterthaus Drive
- Six private offices or exam rooms
- Reception and waiting area plus consultation room
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
$37,463
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%
$749,260
$749.3K
Cap Rate 7%
$535,186
$535.2K
Cap Rate 9%
$416,256
$416.3K
Market Conditions
NOI Build-Up for 2,500 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
$54.0K $21.60/SF
− Vacancy
−$4.1K −$1.62/SF
EGI
$50.0K $19.98/SF
− OpEx
−$12.5K −$5.00/SF
NOI
$37.5K $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%
$749,260
Cap Rate 7%
$535,186
Cap Rate 9%
$416,256
Alternative Uses
Best Use
Office B
$535.2K
$468.3K – $624.4K
NOI $37,463 @ 7.0% cap · market cap 7.72%
Second Best
Healthcare Medical
$519.6K
$454.6K – $606.2K
NOI $36,369 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$737.1K
$645.0K – $860.0K
NOI $51,600 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,249
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Pet Street Veterinary Care Center — 240 S Nova Rd, Ormond Beach, FL 32174
- Fleuchaus Nixo Leslie DVM — 380 W Granada Blvd, Ormond Beach, FL 32174
- Volenec Debra DVM — Ormond Beach, FL 32174
- Shadow Lake Animal Hospital — 125 N Nova Rd, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured with private rooms, reception, consultation, storage, and restroom facilities.
Where is this medical office space located?
The property is located at 802 Sterthaus Drive Ormond Beach, FL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2,500 SF medical office suite at 802 Sterthaus Drive; Six private offices or exam rooms; Reception and waiting area plus consultation room
