Leased Medical Office
208-1515 Herbert St Port Orange, FL 32129
208-1515 Herbert St, Port Orange, FL, 32129
$340,000
For Sale
$340,000
Leased 1,385 SF office condo suited for medical or professional use with convenient access and ample parking.
Property Size1,385 SF
Price / SF$245.49
Days on Market78
Property Features for 208-1515 Herbert St
General Information
- Standard status
- Active
- Size
- 1,385 SF
Listing Agency
SVN Alliance Commercial Real Estate Advisors
(386) 801-7435
Listed by
Carl Lentz · License #3068067
(386) 801-7435
Source
Exprealty
Added: May 1 Checked: Jul 16 at 3:48 pm
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 SVN Alliance Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This offering is a 1,385 SF office condo within a NNN structure, currently leased to a tenant that has been in place since 2025. The lease runs through December 31, 2028, providing an existing in-place tenancy. The property features Florida vernacular architecture and a metal roof. Ownership is designed for low day-to-day involvement, with the condo association handling building and grounds maintenance.
The building is positioned for visibility and convenient access, with entry from Clyde Morris Boulevard and Herbert Street. Off-street parking is available, supporting easy arrival for patients, clients, and visitors.
The configuration and ongoing lease make this unit a practical fit for medical or professional office users looking for a space aligned to office operations. For buyers, it also offers straightforward ownership through condo-association maintenance, while the current lease provides continuity through the end of 2028. The property’s exposure, access points, and parking availability support client-facing use for a range of professional and healthcare-related tenants.
The building is positioned for visibility and convenient access, with entry from Clyde Morris Boulevard and Herbert Street. Off-street parking is available, supporting easy arrival for patients, clients, and visitors.
The configuration and ongoing lease make this unit a practical fit for medical or professional office users looking for a space aligned to office operations. For buyers, it also offers straightforward ownership through condo-association maintenance, while the current lease provides continuity through the end of 2028. The property’s exposure, access points, and parking availability support client-facing use for a range of professional and healthcare-related tenants.
Key Highlights
- 1,385 SF office condo in West End Village, leased to an in‑place tenant since 2025 and running through Dec 31, 2028
- Annual base rent of $24,251.35 with a stated 7.13% cap rate (NNN office condo)
- Condo association handles building and grounds maintenance for low‑effort ownership
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.9k | $21.60 |
| − Vacancy | −$2.2k | −$1.62 |
| EGI | $27.7k | $19.98 |
| − OpEx | −$6.9k | −$5.00 |
| NOI | $20.8k | $14.99 |
1,385 SF · lease $21.60/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$296.5K
$259.4K – $345.9K
NOI $20,754 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.4K
$357.3K – $476.4K
NOI $28,586 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Leased 1,385 SF office condo suited for medical or professional use with convenient access and ample parking.
Where is this office units located?
The property is located at 208-1515 Herbert St Port Orange, FL.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,385 SF office condo in West End Village, leased to an in‑place tenant since 2025 and running through Dec 31, 2028; Annual base rent of $24,251.35 with a stated 7.13% cap rate (NNN office condo); Condo association handles building and grounds maintenance for low‑effort ownership
