Air-Conditioned Aviation
New
For Sale
$625,000
Pending
155 Piper Boulevard, Port Orange, FL 32128
COMMERCIAL - Port Orange, FL
Property Size2,150 SF
Lot Size0.04 Acres
Days on Market5
Property Features for 155 Piper Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Condominium
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Security features
Security
Subdivision
Spruce Creek Fly In
Lot features
Airport Community
Directions
2.3 Miles west on Taylor Road to Spruce Creek Fly In entrance. Continue straight at stop sign past Security Gate to Country Club Dr., Left at Country Club Dr, Left on Seclusion Dr., continue across Taxiway Cessna Blvd, Left on Cessna to Piper Blvd to Spruce Creek Condo Hangars. Must present driver license to Security Guard for admittance.
Standard status
Pending
APN
6225-14-00-0150
Size
2,150 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 15 SPRUCE CREEK CONDO HANGARS PER OR 3973 PG 2034 PER OR 4013 PG 4105 PER OR 5368 PG 3940 PER OR 6169 PG 4967 PER OR 6294 PG 0199 PER OR 6507 PGS 0085-0086
Tax Annual Amount
7083
HOA Fee
$1,995 Annually
Legal Description
UNIT 15 SPRUCE CREEK CONDO HANGARS PER OR 3973 PG 2034 PER OR 4013 PG 4105 PER OR 5368 PG 3940 PER OR 6169 PG 4967 PER OR 6294 PG 0199 PER OR 6507 PGS 0085-0086
Utilities
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Listing Agency:
CENTURY 21 Sundance Realty
(386) 756-6105
Listed By:
Anne Busse Gandt · License #543472
(386) 679-1965
Added: Aug 14
Changed: Aug 17
Last Checked: Aug 18 at 10:06PM
MLS# 1229742
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 aviation property is a 2,150-square-foot commercial hangar at Spruce Creek. The air-conditioned interior measures 49'10'' by 41'8'', providing a substantial enclosed area for aviation-related use. A 13'8''-high hangar door serves the primary access point, while a 7x8' roll-up door provides additional rear entry.
Built in 1995, the property includes one bathroom and is served by public water. It is located at 155 Piper Boulevard in Port Orange, Florida, within Volusia County. The site encompasses 0.04 acres.
Built in 1995, the property includes one bathroom and is served by public water. It is located at 155 Piper Boulevard in Port Orange, Florida, within Volusia County. The site encompasses 0.04 acres.
Key Highlights
- 2,150‑square‑foot commercial aviation hangar
- Air‑conditioned interior measuring 49'10'' x 41'8''
- 13'8''-high hangar 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
$24,244
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
3.88%
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%
$484,880
$484.9K
Cap Rate 7%
$346,343
$346.3K
Cap Rate 9%
$269,378
$269.4K
Market Conditions
NOI Build-Up for 2,150 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
$40.8K $18.96/SF
− Vacancy
−$3.5K −$1.61/SF
EGI
$37.3K $17.35/SF
− OpEx
−$13.1K −$6.07/SF
NOI
$24.2K $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%
$484,880
Cap Rate 7%
$346,343
Cap Rate 9%
$269,378
Alternative Uses
Best Use
Flex RnD
$346.3K
$303.1K – $404.1K
NOI $24,244 @ 7.0% cap · market cap 3.88%
Second Best
Industrial
$182.9K
$160.0K – $213.3K
NOI $12,800 @ 7.0% cap · market cap 2.05%
Theoretical Best
Office A
$633.9K
$554.7K – $739.6K
NOI $44,376 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 32128, FL
20,968
Population
10,155
Households
2.1
Avg Household Size
50
Median Age
40%
College-Educated
94%
High-School Grad
33.4 sq mi
ZIP Area
628
Density / Sq Mi
$84,164
Median Household Income
$41,946
Median Earnings
$1,497
Median Rent
$378,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Commercial hangar with climate-controlled space and rear roll-up access.
Where is this aviation real estate located?
The property is located at 155 Piper Boulevard Port Orange, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,150‑square‑foot commercial aviation hangar; Air‑conditioned interior measuring 49'10'' x 41'8''; 13'8''-high hangar door
