Daytona Beach Commercial
For Sale
$289,999
Pending
1604 Illinois Street, Daytona Beach, FL 32114
Highly visible commercial property in Daytona Beach, M1 zoning.
Property Size1,519 SF
Lot Size0.34 Acres
Days on Market773
Property Features for 1604 Illinois Street
General Information
Standard status
Pending
Size
1,519 SF
Lot size
0.34 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$2,186
Building Details
Year Built
2006
Listing Agency:
Oceans Luxury Realty Full Service LLC
(386) 682-8800
Listed By:
Carlos Ring · License #3201477
(386) 682-8800
Source:
Exitrealty
Added: Jul 2, 2024
Changed: Aug 8
Last Checked: Aug 12 at 3:52AM
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 Oceans Luxury Realty Full Service LLC
Investment Insights
Based on property information with market context.
This commercial property is located in Daytona Beach, steps from the hospital and surrounding out-parcel developments. The site benefits from high visibility, easy access, and consistent traffic. Zoned M1 (Multi-Use Industrial), the property allows for a range of business operations, including auto-related services, garages, light industrial operations, offices, showrooms, warehouses, and strip-style commercial development. The lot measures approximately 100 feet deep by 150 feet wide, providing space for development, parking, and operational efficiency. The property cannot be converted to residential use after sale, ensuring its long-term commercial value. The property size is 1519 square feet.
Key Highlights
- Highly visible commercial property in the heart of Daytona Beach, steps from the hospital
- M1 zoning allows for a wide range of business operations
- Outstanding exposure, easy access, and consistent traffic
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
$17,129
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
5.91%
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%
$342,580
$342.6K
Cap Rate 7%
$244,700
$244.7K
Cap Rate 9%
$190,322
$190.3K
Market Conditions
NOI Build-Up for 1,519 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
$28.8K $18.96/SF
− Vacancy
−$2.4K −$1.61/SF
EGI
$26.4K $17.35/SF
− OpEx
−$9.2K −$6.07/SF
NOI
$17.1K $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%
$342,580
Cap Rate 7%
$244,700
Cap Rate 9%
$190,322
Alternative Uses
Best Use
Flex RnD
$244.7K
$214.1K – $285.5K
NOI $17,129 @ 7.0% cap · market cap 5.91%
Second Best
Industrial
$129.2K
$113.0K – $150.7K
NOI $9,043 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$447.9K
$391.9K – $522.5K
NOI $31,352 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Highly visible commercial property in Daytona Beach, M1 zoning.
Where is this commercial land located?
The property is located at 1604 Illinois Street Daytona Beach, FL.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: Highly visible commercial property in the heart of Daytona Beach, steps from the hospital; M1 zoning allows for a wide range of business operations; Outstanding exposure, easy access, and consistent traffic
