Versatile Commercial Building on Volusia
For Sale
$869,000
103 HIGHLAND St, Orange City, FL 32763
6,500 SF commercial building with warehouse and flex space.
Property Size910 SF
Price / SF$133.69
Days on Market141
Property Features for 103 HIGHLAND St
General Information
Standard status
Active
Size
910 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$8,426
Building Details
Building Size
910 SF
Year Built
1986
Listed By:
Leo Rose
(941) 840-8669
Source:
Elliman
Added: Apr 24
Changed: Sep 10
Last Checked: Sep 10 at 11:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Leo Rose
Investment Insights
Based on property information with market context.
This 6,500 SF commercial building is situated along a highly visible corridor on South Volusia Ave, benefiting from approximately 30,000 vehicles passing daily. The property includes 5,590 SF of warehouse space and 910 SF of finished flex/office space, suitable for various commercial and industrial purposes. Zoned CG-2, the building allows for multiple uses, including repair shops, fitness or entertainment facilities, garden and farm retail, craft/light industry, and service centers. The property features three large bay doors, 14’ drop ceilings, and 400-amp three-phase power, along with updated electrical and a full security system. The flex/office space is equipped with a newer mini-split HVAC system, providing a comfortable workspace separate from the warehouse. Located in a commercially dense area near 7-Eleven, the property offers excellent visibility and easy access from South Volusia Ave, making it suitable for businesses seeking exposure, functionality, and flexible zoning. The location has a walk score of 32, indicating it is car-dependent, and a bike score of 37, indicating it is somewhat bikeable.
Key Highlights
- High‑visibility location on South Volusia Ave with approximately 30,000 vehicles per day (AADT).
- Flexible CG‑2 zoning allows for multiple commercial and industrial uses.
- 5,590 SF of warehouse space and 910 SF of finished flex/office space.**
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
$73,297
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
8.43%
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%
$1,465,940
$1.5M
Cap Rate 7%
$1,047,100
$1.0M
Cap Rate 9%
$814,411
$814.4K
Market Conditions
NOI Build-Up for 6,500 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
$123.2K $18.96/SF
− Vacancy
−$10.5K −$1.61/SF
EGI
$112.8K $17.35/SF
− OpEx
−$39.5K −$6.07/SF
NOI
$73.3K $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%
$1,465,940
Cap Rate 7%
$1,047,100
Cap Rate 9%
$814,411
Alternative Uses
Best Use
Flex RnD
$1.05M
$916.2K – $1.22M
NOI $73,297 @ 7.0% cap · market cap 8.43%
Second Best
Industrial
$552.8K
$483.7K – $645.0K
NOI $38,698 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,160 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32763, FL
23,391
Population
11,897
Households
2
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
20.9 sq mi
ZIP Area
1,119
Density / Sq Mi
$64,022
Median Household Income
$40,100
Median Earnings
$1,449
Median Rent
$239,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - 6,500 SF commercial building with warehouse and flex space.
Where is this flex space located?
The property is located at 103 HIGHLAND St Orange City, FL.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: High‑visibility location on South Volusia Ave with approximately 30,000 vehicles per day (AADT).; Flexible CG‑2 zoning allows for multiple commercial and industrial uses.; 5,590 SF of warehouse space and 910 SF of finished flex/office space.**
