Two-Suite Office
For Sale
$324,900
469 Ward Drive, Oak Hill, FL 32759
Versatile office building configured as two expansive suites with a shared kitchenette and two restrooms.
Property Size1,140 SF
Days on Market128
Property Features for 469 Ward Drive
General Information
Standard status
Active
Size
1,140 SF
Zoning
Commercial
Additional Details
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$4,466
Amenities
Lobby, Office, Public Restroom, Rear Access, Separate Office Area, Showroom
Central Air
Central, Electric
Vinyl, Wrought Iron
Additional Parking, Off Street, Parking Lot
Building Details
Building Size
1,140 SF
Year Built
1994
Stories
1
Listing Agency:
The Barnett Group Inc.
Listed By:
Janna Taylor · License #3432567
(386) 265-2328
Source:
Evrealestate
Added: Apr 30
Changed: Sep 3
Last Checked: Sep 4 at 3:49AM
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 The Barnett Group Inc.
Investment Insights
Based on property information with market context.
This commercial building is configured into two expansive office suites, offering a practical setup for an owner-user or a multi-tenant arrangement. The layout includes a central kitchenette/breakroom and two restrooms to support day-to-day operations for occupants across both suites.
The property is located just off US-1 in Oak Hill, within Volusia County. The building is positioned for flexible use, with room for future expansion, redevelopment, or additional income-producing improvements as needs change.
Measurements are believed to be accurate but not guaranteed. The property offers a range of potential configurations, including the ability to reconfigure the interior for additional office or specialty space types, subject to applicable approvals.
The property is located just off US-1 in Oak Hill, within Volusia County. The building is positioned for flexible use, with room for future expansion, redevelopment, or additional income-producing improvements as needs change.
Measurements are believed to be accurate but not guaranteed. The property offers a range of potential configurations, including the ability to reconfigure the interior for additional office or specialty space types, subject to applicable approvals.
Key Highlights
- Commercial building built in 1994
- Currently configured as two expansive office suites
- Includes a central kitchenette/breakroom
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
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Frequently Asked Questions
What type of property is this?
Office units - Versatile office building configured as two expansive suites with a shared kitchenette and two restrooms.
Where is this office units 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: Commercial building built in 1994; Currently configured as two expansive office suites; Includes a central kitchenette/breakroom
