Two-Suite Medical Office
For Sale
$1,637,000
1667 N Clyde Morris Boulevard, Daytona Beach, FL 32117
Commercial Sale, Daytona Beach, FL
Property Size4,419 SF
Lot Size0.21 Acres
Price / SF$370.45
Days on Market177
Property Features for 1667 N Clyde Morris Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2
Parking features
Parking Lot
Security features
Security System
Accessibility
Accessible Approach with Ramp
Lot features
Cleared
Directions
From I-95, Head east on LPGA Blvd. Left onto N Clyde Morris Blvd. Building is down the second driveway on the right from LPGA BLVD.
Subdivision
42 - LPGA to Granada, W of Nova & E of 95
Standard status
Active
APN
5203-02-00-0050
Size
4,419 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 5 LAKESIDE PROFESSIONAL CENTER CONDO PER OR 5148 PG 3088 & MB 50 PG 49 & 50 PER OR 5148 PG 3088 PER OR 5269 PG 1863 PER OR 5743 PG 393
Tax Annual Amount
12997
Legal Description
UNIT 5 LAKESIDE PROFESSIONAL CENTER CONDO PER OR 5148 PG 3088 & MB 50 PG 49 & 50 PER OR 5148 PG 3088 PER OR 5269 PG 1863 PER OR 5743 PG 393
Utilities
Sewer type
Public Sewer
Water front features
Pond
Water front
1
Building Details
Year built
2006
Floors in Building
1
Number of units
2
Listing Agency:
Adams, Cameron & Co., Realtors
(386) 677-7966
Listed By:
Bill Cullen · License #3526594
(386) 396-1000
Added: Mar 1
Changed: Aug 20
Last Checked: Aug 25 at 9:06AM
MLS# 1223558
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.
Built in 2006, this medical office property contains 4,419 square feet arranged as two distinct suites. Both suites are currently leased, creating an operating setup that can accommodate continued tenancy or an owner-user configuration with one suite retained for rental income. The building includes four bathrooms, a parking lot, and an accessible approach with ramp. Public sewer serves the property, which occupies 0.21 acres and includes a pond feature.
The property is located at 1667 N Clyde Morris Boulevard in Daytona Beach, near hospitals, shopping, and residential areas. Its location is also described as being minutes from I-95 and within a development corridor. The combination of separate suite layouts, existing leases, on-site parking, and medical-office functionality supports multiple occupancy arrangements.
The property is located at 1667 N Clyde Morris Boulevard in Daytona Beach, near hospitals, shopping, and residential areas. Its location is also described as being minutes from I-95 and within a development corridor. The combination of separate suite layouts, existing leases, on-site parking, and medical-office functionality supports multiple occupancy arrangements.
Key Highlights
- 4,419 square feet arranged in two distinct suites
- Both suites are currently leased
- Built in 2006 on a 0.21‑acre site
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
$66,219
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
4.05%
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%
$1,324,380
$1.3M
Cap Rate 7%
$945,986
$946.0K
Cap Rate 9%
$735,767
$735.8K
Market Conditions
NOI Build-Up for 4,419 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
$95.5K $21.60/SF
− Vacancy
−$7.2K −$1.62/SF
EGI
$88.3K $19.98/SF
− OpEx
−$22.1K −$5.00/SF
NOI
$66.2K $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%
$1,324,380
Cap Rate 7%
$945,986
Cap Rate 9%
$735,767
Alternative Uses
Best Use
Office B
$946.0K
$827.7K – $1.10M
NOI $66,219 @ 7.0% cap · market cap 4.05%
Second Best
Healthcare Medical
$918.4K
$803.6K – $1.07M
NOI $64,286 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,208 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Well-served
Demand for This Use
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?
Medical Office Space - Two separately leased suites provide flexibility for an owner-user arrangement with continued rental income.
Where is this medical office space located?
The property is located at 1667 N Clyde Morris Boulevard Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,637,000.
What are key features of this property?
This property features: 4,419 square feet arranged in two distinct suites; Both suites are currently leased; Built in 2006 on a 0.21‑acre site
