Two-Suite Medical Office
New
For Sale
$1,637,000
1667 N Clyde Morris Boulevard, Daytona Beach, FL 32117
Fully leased medical property offers separate suite configuration for continued occupancy or an owner-user arrangement.
Property Size4,419 SF
Price / SF$370.45
Days on Market1
Property Features for 1667 N Clyde Morris Boulevard
General Information
Standard status
Active
Size
4,419 SF
Occupancy
100%
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
ADAMS, CAMERON & CO., REALTORS
Listed By:
Bill Cullen · License #3526594
(978) 833-1866
Source:
Livewelltampabay
Added: Sep 5
Last Checked: Sep 5 at 2:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ADAMS, CAMERON & CO., REALTORS
Investment Insights
Based on property information with market context.
This 4,419-square-foot medical office property was built in 2006 and is configured as two distinct suites. Both suites are currently leased, providing an established occupancy profile while preserving the option for an owner-user to occupy one portion and lease the other.
The building is located at 1667 N Clyde Morris Boulevard in Daytona Beach, near I-95, hospitals, shopping, and surrounding residential areas. Its setting within a development corridor adds convenient access to established community services and nearby medical destinations.
The building is located at 1667 N Clyde Morris Boulevard in Daytona Beach, near I-95, hospitals, shopping, and surrounding residential areas. Its setting within a development corridor adds convenient access to established community services and nearby medical destinations.
Key Highlights
- 4,419‑square‑foot medical office building
- Two distinct suites with both currently leased
- Built in 2006
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
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 - Fully leased medical property offers separate suite configuration for continued occupancy or an owner-user arrangement.
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‑foot medical office building; Two distinct suites with both currently leased; Built in 2006
