Versatile Commercial Property Near
222 HERNANDEZ AVENUE, Ormond Beach, FL 32174
For Sale
$599,999
Well-maintained commercial property with B-5 zoning, ideal for investors.
Property Size1,500 SF
Lot Size0.11 Acres
Price / SF$399
Days on Market770
Property Features for 222 HERNANDEZ AVENUE
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
SIMPLY REAL ESTATE
(386) 677-0870
Listed By:
DEANA FRECHETTE · License FL #3379314
(386) 804-5562
Source:
Exitrealty
Added: Oct 4, 2024
Changed: Aug 8
Last Checked: Aug 8 at 3:00PM
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 SIMPLY REAL ESTATE
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Investment Insights
Based on property information with market context.
This owner-occupied commercial property, zoned Service Commercial (B-5), is available for sale and will be vacated at closing. The property includes a spacious carport suitable for parking, storage, or service needs, and is fully fenced for privacy and security. The block building is in excellent condition and is fully under air and heat. The layout includes a lobby area, multiple offices, kitchen space, and a full bathroom with a shower. Located right off US-1, the property offers the option to install signage viewable from the heavy traffic on US-1, along with easy access and ample parking for employees and customers. The property's B-5 zoning allows for various business types. The property size is 1500 square feet. The property is located at 222 HERNANDEZ AVENUE, ORMOND BEACH, FL 32174.
Key Highlights
- Prime location right off US‑1 with high traffic visibility and signage opportunity.
- B‑5 Service Commercial zoning offers flexibility for various business types.
- Property will be vacated at closing, ensuring a seamless transition for the new owner.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,478
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,560
$449.6K
Cap Rate 7%
$321,114
$321.1K
Cap Rate 9%
$249,756
$249.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$32.4K $21.60/SF
− Vacancy
−$2.4K −$1.62/SF
EGI
$30.0K $19.98/SF
− OpEx
−$7.5K −$5.00/SF
NOI
$22.5K $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 Rate 5%
$449,560
Cap Rate 7%
$321,114
Cap Rate 9%
$249,756
Alternative Uses
Best Use
Office B
$321.1K
$281.0K – $374.6K
NOI $22,478 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$442.3K
$387.0K – $516.0K
NOI $30,960 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Ormond Beach, FL
Properties on Market for Office Units in Ormond Beach
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Well-maintained commercial property with B-5 zoning, ideal for investors.
Where is this office unit located?
The property is located at 222 HERNANDEZ AVENUE Ormond Beach, FL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Prime location right off US‑1 with **high traffic visibility and signage opportunity**.; B‑5 Service Commercial zoning offers flexibility for various business types.; Property will be vacated at closing, ensuring a seamless transition for the new owner.
