Multi-Building Office
For Sale
$1,350,000
123 W Rhode Island Avenue ORANGE CITY, Orange City, FL 32763
Four-building commercial campus totaling about 6,060 SF on 2.25 acres with ample parking and active rental income.
Property Size7,146 SF
Lot Size2.25 Acres
Price / SF$224.25
Days on Market107
Property Features for 123 W Rhode Island Avenue ORANGE CITY
General Information
Standard status
Active
Size
7,146 SF
Lot size
2.25 Acres
Zoning
R-4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,508
Amenities
Ceramic Tile,Laminate
true
1
Blinds,Window Treatments
Public Records
Mature Landscaping
City Lot,Landscaped,Wooded
2.5
false
Asphalt,Gravel
Slab
City Street
7146
2
Public Maintained Road
Building Details
Building Size
7,146 SF
Year Built
1967
Buildings
2
Stories
1
Listed By:
Martina Jordan
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 5
Changed: Oct 7
Last Checked: Oct 7 at 9:58AM
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 Martina Jordan
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial campus includes four buildings totaling approximately 6,060 SF on a 2.25-acre site. The property is currently generating approximately $9,200 in monthly rental income. The seller notes that one tenant’s lease is nearing expiration, creating the opportunity for an owner-occupant to use the front two buildings totaling approximately 2,500 SF while continuing to receive income from the remaining tenants. Ample parking is available for visitors and tenants.
Located in Orange City at 123 W Rhode Island Avenue, the property is positioned in the heart of the market and provides convenient access to major thoroughfares, including Volusia Avenue (US 17-92). The seller also describes the campus as suitable for a range of uses, including professional offices, medical, educational, religious, nonprofit, and training facilities, among others.
With multiple structures and room on the site, the property can support both immediate occupancy needs and longer-term expansion or redevelopment planning, according to the seller’s description.
Located in Orange City at 123 W Rhode Island Avenue, the property is positioned in the heart of the market and provides convenient access to major thoroughfares, including Volusia Avenue (US 17-92). The seller also describes the campus as suitable for a range of uses, including professional offices, medical, educational, religious, nonprofit, and training facilities, among others.
With multiple structures and room on the site, the property can support both immediate occupancy needs and longer-term expansion or redevelopment planning, according to the seller’s description.
Key Highlights
- Four‑building commercial campus with total building area of 7,146 SF on a 2.5‑acre city lot
- Active rental income: approximately $9,200/month reported, with one tenant’s lease nearing expiration
- 1‑story property built in 1967 with slab foundation, ceramic tile and laminate flooring, and AC/heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,210
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,804,200
$1.8M
Cap Rate 7%
$1,288,714
$1.3M
Cap Rate 9%
$1,002,333
$1.0M
Market Conditions
NOI Build-Up for 6,020 SF
Gross rent
$130.0K $21.60/SF
− Vacancy
−$9.8K −$1.62/SF
EGI
$120.3K $19.98/SF
− OpEx
−$30.1K −$5.00/SF
NOI
$90.2K $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 Rate 5%
$1,804,200
Cap Rate 7%
$1,288,714
Cap Rate 9%
$1,002,333
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,210 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,253 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
School - Four-building commercial campus totaling about 6,060 SF on 2.25 acres with ample parking and active rental income.
Where is this school located?
The property is located at 123 W Rhode Island Avenue ORANGE CITY Orange City, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑building commercial campus with total building area of 7,146 SF on a 2.5‑acre city lot; Active rental income: approximately $9,200/month reported, with one tenant’s lease nearing expiration; 1‑story property built in 1967 with slab foundation, ceramic tile and laminate flooring, and AC/heat
