Renovated Flex Space with Two
For Sale
$575,000
153 US 1, Oak Hill, FL 32759
Commercial Sale, Oak Hill, FL
Property Size1,855 SF
Lot Size1.55 Acres
Price / SF$309.97
Days on Market467
Property Features for 153 US 1
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
RV, Assigned, Off Street, Garage, Parking Lot
Lot features
Cleared
Directions
Take I-95 S to FL-442 E/Indian River Blvd in Edgewater. Take exit 244 from I-95 S Turn left onto FL-442 E/Indian River Blvd Follow S Ridgewood Ave to US-1 N in Oak Hill
Subdivision
97 - New Smyrna Beach S of Pioneer, W of 95
Standard status
Active
APN
950802000320
Size
1,855 SF
Lot size
1.55 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
8-19-35 ALL SOMERSET SUB MB 9 PG 226 EXC N 300 FT AKA PART O F LOTS 32 & 33 SUB W 1/2 OF N W 1/4 & INC VACATED ST PER OR 4 810 PGS 2162 PER OR 7561 PG 2343 PER OR 8079 PG 2672
Tax Annual Amount
4038
Legal Description
8-19-35 ALL SOMERSET SUB MB 9 PG 226 EXC N 300 FT AKA PART O F LOTS 32 & 33 SUB W 1/2 OF N W 1/4 & INC VACATED ST PER OR 4 810 PGS 2162 PER OR 7561 PG 2343 PER OR 8079 PG 2672
Building Details
Year built
1971
Floors in Building
1
Number of units
1
Listing Agency:
Dalton Wade Inc.
(888) 668-8283
Listed By:
Linda Castro · License #3392783
(978) 804-9232
Added: Jun 18, 2025
Changed: Sep 21
Last Checked: Sep 27 at 3:06PM
MLS# 1214701
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 1,855-square-foot flex property, built in 1971, offers two 28-by-17-foot work bays, a 12-by-14-foot office, and two bathrooms. The building has undergone extensive renovation, including a new metal roof, impact windows, interior and exterior paint, stucco, hardboard siding, flooring, updated electrical and plumbing fixtures, and a new back porch. The well, water pump, water lines, and septic system were also replaced.
The property has direct access to US Highway 1 and accommodates multiple parking configurations, including a parking lot, garage, off-street spaces, assigned parking, and RV parking. The combination of flexible bay space, dedicated office area, and upgraded building systems supports a range of commercial and light industrial uses.
The property has direct access to US Highway 1 and accommodates multiple parking configurations, including a parking lot, garage, off-street spaces, assigned parking, and RV parking. The combination of flexible bay space, dedicated office area, and upgraded building systems supports a range of commercial and light industrial uses.
Key Highlights
- 1,855 SF flex property with two 28 x 17 work bays
- 12 x 14 office and two bathrooms
- Direct US Highway 1 access
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
$20,918
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
3.64%
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%
$418,360
$418.4K
Cap Rate 7%
$298,829
$298.8K
Cap Rate 9%
$232,422
$232.4K
Market Conditions
NOI Build-Up for 1,855 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
$35.2K $18.96/SF
− Vacancy
−$3.0K −$1.61/SF
EGI
$32.2K $17.35/SF
− OpEx
−$11.3K −$6.07/SF
NOI
$20.9K $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%
$418,360
Cap Rate 7%
$298,829
Cap Rate 9%
$232,422
Alternative Uses
Best Use
Flex RnD
$298.8K
$261.5K – $348.6K
NOI $20,918 @ 7.0% cap · market cap 3.64%
Second Best
Industrial
$157.8K
$138.1K – $184.1K
NOI $11,044 @ 7.0% cap · market cap 1.92%
Theoretical Best
Office A
$547.0K
$478.6K – $638.1K
NOI $38,287 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32759, FL
2,951
Population
1,471
Households
2
Avg Household Size
56
Median Age
15%
College-Educated
86%
High-School Grad
48.7 sq mi
ZIP Area
61
Density / Sq Mi
$61,968
Median Household Income
$38,929
Median Earnings
$1,316
Median Rent
$266,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial property with US Highway 1 access, office space, bathrooms, and on-site parking.
Where is this flex space located?
The property is located at 153 US 1 Oak Hill, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,855 SF flex property with two 28 x 17 work bays; 12 x 14 office and two bathrooms; Direct US Highway 1 access
