Office/Retail Condo with Flexible
For Sale
$775,000
2583 S Volusia Ave, Orange City, FL 32763
Commercial condo offers large open workspace, multiple offices, and two restrooms for office, medical, or service use.
Property Size2,788 SF
Price / SF$277.98
Days on Market16
Property Features for 2583 S Volusia Ave
General Information
Standard status
Active
Size
2,788 SF
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2006
Listing Agency:
Coldwell Banker Commercial AI Group
(386) 456-6653
Listed By:
John Wanamaker · License #SL3464602
Source:
Commercialcafe
Added: Jul 26
Changed: Jul 28
Last Checked: Aug 9 at 9:02AM
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 Coldwell Banker Commercial AI Group
Investment Insights
Based on property information with market context.
Available for sale is a 2,788-square-foot commercial office/retail condominium at 2583 S Volusia Ave in Orange City, Florida, positioned along U.S. Highway 17-92. The space is designed with a large open workspace, multiple private offices, and two restrooms, supporting a flexible combination of office, medical, professional, retail, or service-oriented uses.
The property sits in a highly accessible area between Sanford, Deltona, Orange City, and DeLand, with Interstate 4 approximately 5–10 minutes away via multiple exits. It is also located less than two miles from AdventHealth Fish Memorial Hospital, providing convenient proximity for established medical and business professionals.
With its adaptable interior layout and prominent commercial corridor placement, this condominium can serve as an owner-user space or an investment holding for a tenant-ready professional setting.
The property sits in a highly accessible area between Sanford, Deltona, Orange City, and DeLand, with Interstate 4 approximately 5–10 minutes away via multiple exits. It is also located less than two miles from AdventHealth Fish Memorial Hospital, providing convenient proximity for established medical and business professionals.
With its adaptable interior layout and prominent commercial corridor placement, this condominium can serve as an owner-user space or an investment holding for a tenant-ready professional setting.
Key Highlights
- Commercial office/retail condominium built in 2006
- 2,788 SF unit with a large open workspace plus multiple private offices
- Includes two restrooms
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
$41,778
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
5.39%
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%
$835,560
$835.6K
Cap Rate 7%
$596,829
$596.8K
Cap Rate 9%
$464,200
$464.2K
Market Conditions
NOI Build-Up for 2,788 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
$60.2K $21.60/SF
− Vacancy
−$4.5K −$1.62/SF
EGI
$55.7K $19.98/SF
− OpEx
−$13.9K −$5.00/SF
NOI
$41.8K $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%
$835,560
Cap Rate 7%
$596,829
Cap Rate 9%
$464,200
Alternative Uses
Best Use
Office B
$596.8K
$522.2K – $696.3K
NOI $41,778 @ 7.0% cap · market cap 5.39%
Second Best
Healthcare Medical
$579.4K
$507.0K – $676.0K
NOI $40,559 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$822.1K
$719.3K – $959.1K
NOI $57,544 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
782
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condo offers large open workspace, multiple offices, and two restrooms for office, medical, or service use.
Where is this office units located?
The property is located at 2583 S Volusia Ave Orange City, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Commercial office/retail condominium built in 2006; 2,788 SF unit with a large open workspace plus multiple private offices; Includes two restrooms
