Flex Building with Industrial
For Sale
$777,000
484 S Yonge Street, Ormond Beach, FL 32174
Commercial Sale, Ormond Beach, FL
Property Size4,513 SF
Lot Size0.27 Acres
Price / SF$172.17
Days on Market49
Property Features for 484 S Yonge Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
Off Street, Parking Lot
Subdivision
Rio Vista Gardens
Lot features
Zero Lot Line
Directions
Granada Blvd to US 1/Yonge St. Head south to 484 S Yonge St. on West Side of US 1/Yonge St.
Standard status
Active
APN
424210030180
Size
4,513 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 18 19 & 45 BLK 3 RIO VISTA GARDENS MB 9 PGS 37 & 38 PER OR 3958 PG 3769 PER OR 7514 P G 0930
Tax Annual Amount
5487
Legal Description
LOTS 18 19 & 45 BLK 3 RIO VISTA GARDENS MB 9 PGS 37 & 38 PER OR 3958 PG 3769 PER OR 7514 P G 0930
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1978
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Wood Siding
Roof type
Shingle
Listing Agency:
Adams, Cameron & Co., Realtors
(386) 258-5500
Listed By:
Richard McNerney
(386) 679-5037
Added: Jul 20
Changed: Aug 20
Last Checked: Sep 6 at 2:06PM
MLS# 1228889
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 freestanding flex property contains 4,513 SF within a block and wood-sided commercial building constructed in 1978. The interior combines a 1,595 SF storefront, 2,396 SF warehouse, and a 24' x 30' industrial garage, creating a mix of customer-facing, administrative, storage, and equipment-oriented space. Concrete flooring, electric heat, 600-amp power, and a shingle roof are included.
The property occupies 0.27 acres at 484 S Yonge Street in Ormond Beach, with a position along US-1 and 12 parking spaces. B-5 zoning is in place. Public water and public sewer serve the property, and cable is available. Off-street parking and a parking lot support the existing commercial layout.
The property occupies 0.27 acres at 484 S Yonge Street in Ormond Beach, with a position along US-1 and 12 parking spaces. B-5 zoning is in place. Public water and public sewer serve the property, and cable is available. Off-street parking and a parking lot support the existing commercial layout.
Key Highlights
- 4,513 SF freestanding flex building on 0.27 acres
- 1,595 SF storefront and 2,396 SF warehouse
- 24' x 30' industrial garage with 600‑amp power
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
$50,891
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
6.55%
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%
$1,017,820
$1.0M
Cap Rate 7%
$727,014
$727.0K
Cap Rate 9%
$565,456
$565.5K
Market Conditions
NOI Build-Up for 4,513 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
$85.6K $18.96/SF
− Vacancy
−$7.3K −$1.61/SF
EGI
$78.3K $17.35/SF
− OpEx
−$27.4K −$6.07/SF
NOI
$50.9K $11.28/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,017,820
Cap Rate 7%
$727,014
Cap Rate 9%
$565,456
Alternative Uses
Best Use
Flex RnD
$727.0K
$636.1K – $848.2K
NOI $50,891 @ 7.0% cap · market cap 6.55%
Second Best
Retail
$607.2K
$531.3K – $708.4K
NOI $42,506 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,148 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Carefree Catering — 341 Parque Dr Suite 6, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial property combining storefront, office, warehouse, and garage areas with B-5 zoning and off-street parking.
Where is this flex space located?
The property is located at 484 S Yonge Street Ormond Beach, FL.
What is the asking price?
The asking price for this property is $777,000.
What are key features of this property?
This property features: 4,513 SF freestanding flex building on 0.27 acres; 1,595 SF storefront and 2,396 SF warehouse; 24' x 30' industrial garage with 600‑amp power
