End-Unit Flex
For Sale
$299,000
1291 US HIGHWAY 1, Ormond Beach, FL 32174
Commercial condominium with central air, natural light, and a layout supporting office, warehouse, or light industrial functions subject to applicable regulations.
Property Size2,016 SF
Price / SF$148.31
Days on Market9
Property Features for 1291 US HIGHWAY 1
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Industrial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,637
Amenities
Central Air
3
Paved Road.
Building Details
Year Built
2007
Stories
2
Listing Agency:
RE/MAX SELECT PROFESSIONALS
(386) 283-4966
Listed By:
Pam Capela · License #3195780
Source:
Xome
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 10:41PM
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 RE/MAX SELECT PROFESSIONALS
Investment Insights
Based on property information with market context.
This 2,016-square-foot end-unit commercial condominium was built in 2007 within Ormond Commerce Park. The space includes central air, abundant natural light, and a functional configuration that can accommodate office, flex, warehouse, or light industrial uses, subject to zoning and condominium requirements.
The property fronts US Highway 1 and is approximately 2 miles from Interstate 95 and Destination Daytona. Nova Road is approximately 2.5 miles away, providing access to Ormond Beach, Daytona Beach, and the surrounding business community. The site is served by a paved road.
The property fronts US Highway 1 and is approximately 2 miles from Interstate 95 and Destination Daytona. Nova Road is approximately 2.5 miles away, providing access to Ormond Beach, Daytona Beach, and the surrounding business community. The site is served by a paved road.
Key Highlights
- 2,016‑square‑foot end‑unit commercial condominium
- Built in 2007 within Ormond Commerce Park
- Fronts US Highway 1
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
$22,733
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
7.60%
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%
$454,660
$454.7K
Cap Rate 7%
$324,757
$324.8K
Cap Rate 9%
$252,589
$252.6K
Market Conditions
NOI Build-Up for 2,016 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
$38.2K $18.96/SF
− Vacancy
−$3.2K −$1.61/SF
EGI
$35.0K $17.35/SF
− OpEx
−$12.2K −$6.07/SF
NOI
$22.7K $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%
$454,660
Cap Rate 7%
$324,757
Cap Rate 9%
$252,589
Alternative Uses
Best Use
Flex RnD
$324.8K
$284.2K – $378.9K
NOI $22,733 @ 7.0% cap · market cap 7.60%
Second Best
Warehouse
$231.6K
$202.7K – $270.2K
NOI $16,214 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$594.4K
$520.1K – $693.5K
NOI $41,610 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Under-served
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Savory Sensations Corporate — 1295 US-1, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Flex space - Commercial condominium with central air, natural light, and a layout supporting office, warehouse, or light industrial functions subject to applicable regulations.
Where is this flex space located?
The property is located at 1291 US HIGHWAY 1 Ormond Beach, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,016‑square‑foot end‑unit commercial condominium; Built in 2007 within Ormond Commerce Park; Fronts US Highway 1
