Medical Office Suite with Exam
New
For Sale
$274,999
1400 Hand Avenue, Ormond Beach, FL 32174
Commercial Sale, Ormond Beach, FL
Property Size1,197 SF
Lot Size0.02 Acres
Price / SF$229.74
Days on Market3
Property Features for 1400 Hand Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot, Assigned
Lot features
Zero Lot Line
Directions
Nova Road to West on Hand Ave, on left side
Subdivision
42 - LPGA to Granada, W of Nova & E of 95
Standard status
Active
APN
4229-11-00-000J
Size
1,197 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT J HAND AVENUE CENTRE CONDO PER OR 5282 PG 4298 PER OR 5391 PG 2602 PER OR 5780 PG 3069 PER OR 6163 PGS 4077-4078 PER OR 7602 PGS 1963-1964 PER OR 8644 PG 0097
Tax Annual Amount
3657
HOA Fee
$1,557 Quarterly
Legal Description
UNIT J HAND AVENUE CENTRE CONDO PER OR 5282 PG 4298 PER OR 5391 PG 2602 PER OR 5780 PG 3069 PER OR 6163 PGS 4077-4078 PER OR 7602 PGS 1963-1964 PER OR 8644 PG 0097
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Listing Agency:
Clayton Realty Group, LLC
(386) 316-7544
Listed By:
Yan Chen
(386) 882-5022
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 3 at 4:06PM
MLS# 1230350
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,197-square-foot medical office suite was built in 2004 and offers a reception area, one bathroom, and four exam rooms. Tile flooring, block, concrete, and stucco construction, along with central electric heating and central air conditioning, support the existing office configuration. Public water and public sewer serve the property.
Parking is provided through a lot with assigned spaces, including employee parking behind the unit. The property is near a hospital and major roads in Ormond Beach. The suite is currently connected to Unit I and occupied by a tenant, so advance coordination is required for access and scheduling.
Parking is provided through a lot with assigned spaces, including employee parking behind the unit. The property is near a hospital and major roads in Ormond Beach. The suite is currently connected to Unit I and occupied by a tenant, so advance coordination is required for access and scheduling.
Key Highlights
- 1,197 SF medical office suite with reception area, one bathroom, and four exam rooms
- Built in 2004 with block, concrete, and stucco construction
- Central air conditioning and central electric heating
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
$17,937
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
6.52%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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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 - Configured with a reception area, restroom, four exam rooms, and on-site parking.
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: 1,197 SF medical office suite with reception area, one bathroom, and four exam rooms; Built in 2004 with block, concrete, and stucco construction; Central air conditioning and central electric heating
