Built-Out Flex Space with
For Sale
$330,000
1293 N US Highway 1 Ormond, Ormond Beach, FL 32174
Completed interior buildout combines office space, employee amenities, and dedicated storage for professional or contractor use.
Property Size1,500 SF
Price / SF$220
Days on Market194
Property Features for 1293 N US Highway 1 Ormond
General Information
Standard status
Active
Size
1,500 SF
Class
B
Property subtype
Other Special Purpose
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Clear Height
20 ft
Office Units
1
Building Details
Building Size
1,500 SF
Year Built
2006
Construction
tilt-up concrete
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors
(386) 295-5723
Listed By:
John Trost · License ##BK-0160420
(386) 295-5723
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:19PM
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 SVN | Alliance Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
Unit 402 is a 1,500 SF flex condominium with a completed interior configuration that balances office and storage functions. The office area includes four offices, a break area, one restroom, tile flooring, 8' interior doors, and 10' ceilings. A 39' deep storage area adds a dedicated overhead-door-accessed workspace with 20' ceilings.
The building features concrete tilt-wall construction with metal siding above the wall system, hurricane-rated glass and doors, and a metal roof. The property was built in 2006 and is located at 1293 N. US Highway 1 in Ormond Beach. Access to Interstate 95 and Destination Daytona is approximately 2 miles, while Nova Road is approximately 2.5 miles away. The property is also positioned two miles south of the I-95/US-1 interchange on US Highway 1.
The building features concrete tilt-wall construction with metal siding above the wall system, hurricane-rated glass and doors, and a metal roof. The property was built in 2006 and is located at 1293 N. US Highway 1 in Ormond Beach. Access to Interstate 95 and Destination Daytona is approximately 2 miles, while Nova Road is approximately 2.5 miles away. The property is also positioned two miles south of the I-95/US-1 interchange on US Highway 1.
Key Highlights
- 1,500 SF Unit 402 in Ormond Commerce Park
- Completed buildout with four offices, break area, and one restroom
- 39' deep storage area with an overhead door
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
$22,478
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
6.81%
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%
$449,560
$449.6K
Cap Rate 7%
$321,114
$321.1K
Cap Rate 9%
$249,756
$249.8K
Market Conditions
NOI Build-Up for 1,500 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
$32.4K $21.60/SF
− Vacancy
−$2.4K −$1.62/SF
EGI
$30.0K $19.98/SF
− OpEx
−$7.5K −$5.00/SF
NOI
$22.5K $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%
$449,560
Cap Rate 7%
$321,114
Cap Rate 9%
$249,756
Alternative Uses
Best Use
Office B
$321.1K
$281.0K – $374.6K
NOI $22,478 @ 7.0% cap · market cap 6.81%
Second Best
Flex RnD
$241.6K
$211.4K – $281.9K
NOI $16,915 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$442.3K
$387.0K – $516.0K
NOI $30,960 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
812
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Completed interior buildout combines office space, employee amenities, and dedicated storage for professional or contractor use.
Where is this flex space located?
The property is located at 1293 N US Highway 1 Ormond Ormond Beach, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,500 SF Unit 402 in Ormond Commerce Park; Completed buildout with four offices, break area, and one restroom; 39' deep storage area with an overhead door
