Turnkey Professional Office
For Sale
$349,900
11-1607 S State Road 15a, Deland, FL 32720
Move-in ready office condo in a four-unit plaza with ADA accessibility, assigned parking, and a fully built-out interior.
Property Size1,700 SF
Price / SF$205.82
Days on Market94
Property Features for 11-1607 S State Road 15a
General Information
Standard status
Active
Size
1,700 SF
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,495
Building Details
Year Built
2006
Listing Agency:
AMERICAN PREMIER REALTY LLC
(386) 337-2383
Listed By:
Rick Hains
(386) 337-2383
Source:
Exprealty
Added: May 22
Changed: Aug 21
Last Checked: Aug 22 at 8:50AM
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 AMERICAN PREMIER REALTY LLC
Investment Insights
Based on property information with market context.
This turnkey professional office condo is fully built out and ready for immediate occupancy. The unit offers a spacious reception and waiting area, a wide open work space, a kitchen area with ample storage, and a flexible layout with 2–3 private offices or conference rooms. Additional features include a separate network and storage area. The office was fully renovated with freshly painted interior and exterior, luxury vinyl flooring, commercial carpet, and brand new front LED signage. ADA accessibility is included, and the property is located within a well-maintained four-unit professional shopping plaza built in 2006.
The condo is positioned along SR 15A for high visibility, with access from the heavily traveled roadway. It benefits from frontage and visibility from both directions on 15A. Assigned parking is provided for convenient client and staff access.
For tenants or buyers seeking an office environment that is functional on day one, the property’s fully renovated condition and occupant-ready layout support a range of professional uses. Condo association fees cover water, outside maintenance, landscape, exterior property liability insurance, trash collection, and more, which can simplify day-to-day operating responsibilities. Artwork does not convey.
The condo is positioned along SR 15A for high visibility, with access from the heavily traveled roadway. It benefits from frontage and visibility from both directions on 15A. Assigned parking is provided for convenient client and staff access.
For tenants or buyers seeking an office environment that is functional on day one, the property’s fully renovated condition and occupant-ready layout support a range of professional uses. Condo association fees cover water, outside maintenance, landscape, exterior property liability insurance, trash collection, and more, which can simplify day-to-day operating responsibilities. Artwork does not convey.
Key Highlights
- 1,700 SF professional office condo in a four‑unit professional shopping plaza in DeLand
- Built in 2006 with ADA accessibility and fully renovated interior
- Fully built out and occupant‑ready with freshly painted interior and exterior
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
$25,475
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
7.28%
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%
$509,500
$509.5K
Cap Rate 7%
$363,929
$363.9K
Cap Rate 9%
$283,056
$283.1K
Market Conditions
NOI Build-Up for 1,700 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
$36.7K $21.60/SF
− Vacancy
−$2.8K −$1.62/SF
EGI
$34.0K $19.98/SF
− OpEx
−$8.5K −$5.00/SF
NOI
$25.5K $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%
$509,500
Cap Rate 7%
$363,929
Cap Rate 9%
$283,056
Alternative Uses
Best Use
Office B
$363.9K
$318.4K – $424.6K
NOI $25,475 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$501.3K
$438.6K – $584.8K
NOI $35,088 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 32720, FL
33,568
Population
13,962
Households
2.4
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
66.3 sq mi
ZIP Area
506
Density / Sq Mi
$67,512
Median Household Income
$39,159
Median Earnings
$1,177
Median Rent
$280,600
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 units - Move-in ready office condo in a four-unit plaza with ADA accessibility, assigned parking, and a fully built-out interior.
Where is this office units located?
The property is located at 11-1607 S State Road 15a Deland, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,700 SF professional office condo in a four‑unit professional shopping plaza in DeLand; Built in 2006 with ADA accessibility and fully renovated interior; Fully built out and occupant‑ready with freshly painted interior and exterior
