Multi-Building Office
123 West Rhode Island Avenue Orange City, FL 32763
For Sale
$1,350,000
A four-building office campus on a 2.25-acre site with ample parking and rental income from multiple tenants.
Property Size6,020 SF
Lot Size2.25 Acres
Price / SF$224.25
Days on Market87
Property Features for 123 West Rhode Island Avenue
General Information
Standard status
Active
Size
6,020 SF
Lot size
2.25 Acres
Property subtype
Commercial Sale / Mixed Use
Building Details
Year Built
1967
Listing Agency:
PRIMEFIT PROPERTIES LLC
(407) 305-2284
Listed By:
Nick Vaseloff · License #3571295
(407) 305-2284
Source:
Compass
Added: May 3
Changed: Jul 21
Last Checked: Jul 21 at 8:56AM
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 PRIMEFIT PROPERTIES LLC
Investment Insights
Based on property information with market context.
This multi-building commercial campus consists of four buildings totaling approximately 6,060 square feet on a 2.25-acre site. The property is currently generating approximately $9,200 in monthly rental income. One tenant’s lease is nearing expiration, offering an opportunity for an owner-occupant to move into the front two buildings totaling approximately 2,500 square feet while continuing to receive income from the remaining tenants.
The campus is located at 123 West Rhode Island Avenue in Orange City, with convenient access to major thoroughfares, including Volusia Avenue (US 17-92). The property offers ample parking and visibility to support a range of office and service-oriented uses.
The available configuration supports professional office and related facility needs, with flexibility for organizations and commercial uses consistent with the existing office campus design.
The campus is located at 123 West Rhode Island Avenue in Orange City, with convenient access to major thoroughfares, including Volusia Avenue (US 17-92). The property offers ample parking and visibility to support a range of office and service-oriented uses.
The available configuration supports professional office and related facility needs, with flexibility for organizations and commercial uses consistent with the existing office campus design.
Key Highlights
- Four‑building commercial campus on a 2.25‑acre site with approximately 6,060 SF total
- Rental income of approximately $9,200 per month from multiple tenants; one lease nearing expiration
- Owner‑occupant potential: front two buildings totaling approximately 2,500 SF can be used while collecting income from remaining tenants
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.0k | $21.60 |
| − Vacancy | −$9.8k | −$1.62 |
| EGI | $120.3k | $19.98 |
| − OpEx | −$30.1k | −$5.00 |
| NOI | $90.2k | $14.99 |
6,020 SF · lease $21.60/SF/yr · vacancy 7.50% · expense 25.00%
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.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
School - A four-building office campus on a 2.25-acre site with ample parking and rental income from multiple tenants.
Where is this school located?
The property is located at 123 West Rhode Island Avenue 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 on a 2.25‑acre site with approximately 6,060 SF total; Rental income of approximately $9,200 per month from multiple tenants; one lease nearing expiration; Owner‑occupant potential: front two buildings totaling approximately 2,500 SF can be used while collecting income from remaining tenants
