Renovated Two-Story Office
For Sale
$1,229,500
525 Shadow Lakes Blvd Ormond, Ormond Beach, FL 32174
Fully renovated commercial office with elevator access and updated building systems.
Property Size4,185 SF
Price / SF$293.79
Days on Market194
Property Features for 525 Shadow Lakes Blvd Ormond
General Information
Standard status
Active
Size
4,185 SF
Class
B
Elevators
Yes
Property subtype
Multi Tenant Office
Building Details
Building Size
4,185 SF
Year Renovated
2025
Buildings
1
Stories
2
Properties For Sale
at 525 Shadow Lakes Blvd Ormond Contact us- Size
- 4,185 SF
- Lease Type
- NNN
Ormond Beach Office Building - 2025 Renovation - 4,185 SF
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors
(386) 310-7900
Listed By:
Carl Lentz · License #3068067
(386) 310-7900
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 8:16PM
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 two-story office building contains 4,185 SF and underwent a full renovation in 2025. Improvements include an ADA elevator and bathrooms, along with new electrical, plumbing, windows, and flooring. The layout may be divided into two separate units, providing flexibility for occupancy or leasing plans.
The property is located at 525 Shadow Lakes Boulevard in Ormond Beach, just north of W Granada Blvd on the east side of N Nova Rd. It is offered for sale, with a lease option also available under an NNN structure.
The property is located at 525 Shadow Lakes Boulevard in Ormond Beach, just north of W Granada Blvd on the east side of N Nova Rd. It is offered for sale, with a lease option also available under an NNN structure.
Key Highlights
- 4,185 SF two‑story office building
- Fully renovated in 2025
- ADA elevator and bathrooms
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
$62,712
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
5.10%
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%
$1,254,240
$1.3M
Cap Rate 7%
$895,886
$895.9K
Cap Rate 9%
$696,800
$696.8K
Market Conditions
NOI Build-Up for 4,185 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
$90.4K $21.60/SF
− Vacancy
−$6.8K −$1.62/SF
EGI
$83.6K $19.98/SF
− OpEx
−$20.9K −$5.00/SF
NOI
$62.7K $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%
$1,254,240
Cap Rate 7%
$895,886
Cap Rate 9%
$696,800
Alternative Uses
Best Use
Office B
$895.9K
$783.9K – $1.05M
NOI $62,712 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,378 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,236
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
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 building - Fully renovated commercial office with elevator access and updated building systems.
Where is this office building located?
The property is located at 525 Shadow Lakes Blvd Ormond Ormond Beach, FL.
What is the asking price?
The asking price for this property is $1,229,500.
What are key features of this property?
This property features: 4,185 SF two‑story office building; Fully renovated in 2025; ADA elevator and bathrooms
