Two-Suite Office
For Sale
$324,900
469 Ward Drive, Oak Hill, FL 32759
COMMERCIAL - Oak Hill, FL
Property Size1,140 SF
Lot Size0.34 Acres
Price / SF$285
Days on Market100
Property Features for 469 Ward Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Parking Lot, Off Street
Lot features
Dead End Street
Directions
South on US1 into Oak Hill. Right on Ward Drive. 2nd Driveway on the left.
Subdivision
99 - Other
Standard status
Active
APN
8531-00-00-0124
Size
1,140 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
31-18-35 COMM AT THE NW CORNER OF SW 1/4 OF SE 1/4 THEN S 00D 13M 53S E 662.53 FT THEN N 89D 42M 25E 1329.81 FT THEN N 22D 44M 41S W 152.96 FT TO POB THEN N 22D 44M 41S W 150 FT THEN N 89D 42M 25S E 108.20 FT THEN S 22D 44M 41S E 150 FT THEN S 89D 42M 25S
Tax Annual Amount
4466
Legal Description
31-18-35 COMM AT THE NW CORNER OF SW 1/4 OF SE 1/4 THEN S 00D 13M 53S E 662.53 FT THEN N 89D 42M 25E 1329.81 FT THEN N 22D 44M 41S W 152.96 FT TO POB THEN N 22D 44M 41S W 150 FT THEN N 89D 42M 25S E 108.20 FT THEN S 22D 44M 41S E 150 FT THEN S 89D 42M 25S
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Well
Building Details
Year built
1994
Floors in Building
1
Flooring type
Laminate, Tile
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
The Barnett Group Inc.
(386) 426-7234
Listed By:
Janna Taylor · License #3432567
(386) 265-2328
Added: Apr 30
Changed: Aug 4
Last Checked: Aug 7 at 2:06PM
MLS# 1225891
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 1,140-square-foot office building is arranged as two separate suites, creating a practical configuration for an owner-user or multiple occupants. The interior includes a shared kitchenette and breakroom, two restrooms, laminate and tile flooring, central heating, and central air conditioning. Block and concrete construction, a shingle roof, and a 1994 completion date define the existing improvements.
The property sits on a 0.34-acre parcel at 469 Ward Drive in Oak Hill, Florida, just off US-1. On-site parking is provided through a parking lot and off-street spaces. The property is served by a private well and septic tank, offering a standalone office setup for professional operations.
The property sits on a 0.34-acre parcel at 469 Ward Drive in Oak Hill, Florida, just off US-1. On-site parking is provided through a parking lot and off-street spaces. The property is served by a private well and septic tank, offering a standalone office setup for professional operations.
Key Highlights
- 1,140‑square‑foot office building configured as two suites
- 0.34‑acre parcel at 469 Ward Drive, Oak Hill, FL 32759
- Just off US‑1 in Volusia County
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
$17,083
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
5.26%
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%
$341,660
$341.7K
Cap Rate 7%
$244,043
$244.0K
Cap Rate 9%
$189,811
$189.8K
Market Conditions
NOI Build-Up for 1,140 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
$24.6K $21.60/SF
− Vacancy
−$1.8K −$1.62/SF
EGI
$22.8K $19.98/SF
− OpEx
−$5.7K −$5.00/SF
NOI
$17.1K $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%
$341,660
Cap Rate 7%
$244,043
Cap Rate 9%
$189,811
Alternative Uses
Best Use
Office B
$244.0K
$213.5K – $284.7K
NOI $17,083 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$336.1K
$294.1K – $392.2K
NOI $23,530 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Explore this area
Business Placement
Demographics for 32759, FL
2,951
Population
1,471
Households
2
Avg Household Size
56
Median Age
15%
College-Educated
86%
High-School Grad
48.7 sq mi
ZIP Area
61
Density / Sq Mi
$61,968
Median Household Income
$38,929
Median Earnings
$1,316
Median Rent
$266,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Central kitchenette and two restrooms support daily office operations.
Where is this office building located?
The property is located at 469 Ward Drive Oak 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: 1,140‑square‑foot office building configured as two suites; 0.34‑acre parcel at 469 Ward Drive, Oak Hill, FL 32759; Just off US‑1 in Volusia County
