Medical Office
For Sale
$274,999
1400 Hand Avenue, Ormond Beach, FL 32174
The property has central electric air conditioning and an unassigned parking lot.
Property Size1,197 SF
Days on Market45
Property Features for 1400 Hand Avenue
General Information
Standard status
Active
Size
1,197 SF
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$3,656
Amenities
Rear Access
Maintenance Grounds
Central Air, Electric
Central, Electric
Parking Lot, Unassigned
Building Details
Building Size
1,197 SF
Year Built
2004
Stories
1
Listing Agency:
Clayton Realty Group, LLC
Listed By:
Yan Chen · License #FL3331405
(386) 882-5022
Source:
Evrealestate
Added: Sep 2
Changed: Oct 11
Last Checked: Oct 16 at 7:51AM
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 Clayton Realty Group, LLC
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Investment Insights
Based on property information with market context.
Built in 2004, this medical office property at 1400 Hand Avenue in Ormond Beach, Florida, has commercial zoning. Interior features include central electric air conditioning, and the site includes an unassigned parking lot.
Key Highlights
- Built in 2004
- Commercial zoning
- Central electric air conditioning and an unassigned parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,937
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,740
$358.7K
Cap Rate 7%
$256,243
$256.2K
Cap Rate 9%
$199,300
$199.3K
Market Conditions
NOI Build-Up for 1,197 SF
Gross rent
$25.9K $21.60/SF
− Vacancy
−$1.9K −$1.62/SF
EGI
$23.9K $19.98/SF
− OpEx
−$6.0K −$5.00/SF
NOI
$17.9K $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 Rate 5%
$358,740
Cap Rate 7%
$256,243
Cap Rate 9%
$199,300
Alternative Uses
Best Use
Office B
$256.2K
$224.2K – $299.0K
NOI $17,937 @ 7.0% cap · market cap 6.52%
Second Best
Healthcare Medical
$248.8K
$217.7K – $290.2K
NOI $17,413 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$352.9K
$308.8K – $411.8K
NOI $24,706 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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- Tomoka Pines Veterinary Hospital — 750 S Nova Rd, Ormond Beach, FL 32174
- Granada ANIMAL HOSPITAL — Ormond Beach, FL 32174
- Pet Street Veterinary Care Center — 240 S Nova Rd, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Medical Office Space - The property has central electric air conditioning and an unassigned parking lot.
Where is this medical office space located?
The property is located at 1400 Hand Avenue Ormond Beach, FL.
What is the asking price?
The asking price for this property is $274,999.
What are key features of this property?
This property features: Built in 2004; Commercial zoning; Central electric air conditioning and an unassigned parking lot
