Freestanding Office
For Sale
$324,900
1621 Espanola Avenue, Holly Hill, FL 32117
COMMERCIAL - Holly Hill, FL
Property Size1,735 SF
Lot Size0.34 Acres
Price / SF$187.26
Days on Market123
Property Features for 1621 Espanola Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Guest, Parking Lot
Directions
US 1 to Flomich, Go West on Flomich, turn Right on 1st Street, Espanola on Right side.
Subdivision
41 - LPGA to Granada, E of Nova
Standard status
Active
APN
4242-20-10-0110
Size
1,735 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 11 & 12 BLK 10 RIO VISTA SEC B MB 6 PG 150 MB 22 PG 161 PER OR 4845 PG 3795 PER OR 5936 PGS 3362-3363 PER OR 6049 PG 2431 PER OR 6303 PG 0694 PER OR 6566 PG 0022 PER OR 6676 PG 0456 PER OR 7093 PG 1067 PER OR 7617 PG 2216 PER OR 7722 PG 2171 PER OR 7
Tax Annual Amount
4363
Legal Description
LOTS 11 & 12 BLK 10 RIO VISTA SEC B MB 6 PG 150 MB 22 PG 161 PER OR 4845 PG 3795 PER OR 5936 PGS 3362-3363 PER OR 6049 PG 2431 PER OR 6303 PG 0694 PER OR 6566 PG 0022 PER OR 6676 PG 0456 PER OR 7093 PG 1067 PER OR 7617 PG 2216 PER OR 7722 PG 2171 PER OR 7
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Number of units
1
Flooring type
Carpet, Concrete
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
EXP Realty LLC
(386) 547-8586
Listed By:
Ian Anderson · License #3105624
(386) 214-5290
Added: Apr 13
Changed: Aug 4
Last Checked: Aug 13 at 9:06AM
MLS# 1225238
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 1,735-square-foot freestanding office building is constructed of concrete block and stucco on a 0.34-acre lot. The layout includes three large rooms measuring 20 x 17 each, an additional room, and two bathrooms. Carpet and concrete flooring are complemented by central heating and central air conditioning, with public water and public sewer service.
Built in 1995, the property was renovated in 2019 with a new shingle roof, flooring, paint, and fixtures. The site includes a parking lot with 10 spaces and is located near Flomich Avenue and US 1. The configuration supports professional office or service use, medical office use, and adult or child day care use as identified in the property information.
Built in 1995, the property was renovated in 2019 with a new shingle roof, flooring, paint, and fixtures. The site includes a parking lot with 10 spaces and is located near Flomich Avenue and US 1. The configuration supports professional office or service use, medical office use, and adult or child day care use as identified in the property information.
Key Highlights
- 1,735‑square‑foot concrete‑block and stucco office building
- 0.34‑acre lot with 10 parking spaces
- Three 20 x 17 rooms plus an additional room
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
$25,999
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
8.00%
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%
$519,980
$520.0K
Cap Rate 7%
$371,414
$371.4K
Cap Rate 9%
$288,878
$288.9K
Market Conditions
NOI Build-Up for 1,735 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
$37.5K $21.60/SF
− Vacancy
−$2.8K −$1.62/SF
EGI
$34.7K $19.98/SF
− OpEx
−$8.7K −$5.00/SF
NOI
$26.0K $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%
$519,980
Cap Rate 7%
$371,414
Cap Rate 9%
$288,878
Alternative Uses
Best Use
Office B
$371.4K
$325.0K – $433.3K
NOI $25,999 @ 7.0% cap · market cap 8.00%
Second Best
Healthcare Medical
$360.6K
$315.5K – $420.7K
NOI $25,240 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$511.6K
$447.6K – $596.8K
NOI $35,810 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
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 building - Concrete-block property with central HVAC, public utilities, and on-site parking.
Where is this office building located?
The property is located at 1621 Espanola Avenue Holly Hill, FL.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 1,735‑square‑foot concrete‑block and stucco office building; 0.34‑acre lot with 10 parking spaces; Three 20 x 17 rooms plus an additional room
