Ormond Beach Office For
For Sale
$300,000
106 N Old Kings Rd Suite B, Ormond Beach, FL 32174
Office or Medical office in the heart of Ormond Beach.
Property Size1,196 SF
Price / SF$250.84
Days on Market258
Property Features for 106 N Old Kings Rd Suite B
General Information
Standard status
Active
Size
1,196 SF
Property subtype
Office
Building Details
Year Built
1983
Listing Agency:
(386) 566-3726
Listed By:
Carl W. Lentz IV, MBA, CCIM · License #FL #BK3068067
(386) 566-3726
Source:
Svn
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 6 at 5:02AM
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 Carl W. Lentz IV, MBA, CCIM
Investment Insights
Based on property information with market context.
This 1196 square foot office is suitable for general or medical use and is located in the heart of Ormond Beach, directly off Nova Road on Old Kings Road. The layout includes three exam rooms equipped with sinks and counter space, a spacious lobby, and a large reception area. It also features a break room with ample counter space and a private back office. The property has new HVAC, paint, and flooring throughout. Condo fees are $500 per month.
Key Highlights
- New HVAC, Paint & Flooring Throughout
- Three Exam Rooms with sinks and counter space
- Spacious Lobby and Large Reception Area
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
$17,922
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
5.97%
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%
$358,440
$358.4K
Cap Rate 7%
$256,029
$256.0K
Cap Rate 9%
$199,133
$199.1K
Market Conditions
NOI Build-Up for 1,196 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
$25.8K $21.60/SF
− Vacancy
−$1.9K −$1.62/SF
EGI
$23.9K $19.98/SF
− OpEx
−$6.0K −$5.00/SF
NOI
$17.9K $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%
$358,440
Cap Rate 7%
$256,029
Cap Rate 9%
$199,133
Alternative Uses
Best Use
Office B
$256.0K
$224.0K – $298.7K
NOI $17,922 @ 7.0% cap · market cap 5.97%
Second Best
Healthcare Medical
$248.6K
$217.5K – $290.0K
NOI $17,399 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$352.6K
$308.6K – $411.4K
NOI $24,685 @ 7.0% cap · market cap 8.23%
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
- Shadow Lake Animal Hospital — 125 N Nova Rd, Ormond Beach, FL 32174
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- Volenec Debra DVM — Ormond Beach, FL 32174
- Fleuchaus Nixo Leslie DVM — 380 W Granada Blvd, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Medical Office Space - Office or Medical office in the heart of Ormond Beach.
Where is this medical office space located?
The property is located at 106 N Old Kings Rd Suite B Ormond Beach, FL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: New HVAC, Paint & Flooring Throughout; Three Exam Rooms with sinks and counter space; Spacious Lobby and Large Reception Area
