Warehouse Unit With 14-Foot
New
For Sale
$180,000
531 Virginia Avenue, Port Orange, FL 32128
Commercial Sale, Port Orange, FL
Property Size960 SF
Price / SF$187.50
Days on Market2
Property Features for 531 Virginia Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Directions
From US Highway 1 (South Ridgewood Avenue), turn west onto Church Street and then make a left onto Virginia Avenue and proceed down the street to 531 Virginia Ave Unit C on your right.
Subdivision
21 - Port Orange S of Dunlawton, E of 95
Standard status
Active
APN
6341-13-00-0030
Size
960 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
41 16 33 UNIT C VIRGINIA INDUSTRIAL PARK PHASE II CONDO INC PARKING SPACE 5 PER OR 7229 PG 3919 PER OR 7267 PG 1137 PER OR 7790 PG 3127
Tax Annual Amount
2323
Legal Description
41 16 33 UNIT C VIRGINIA INDUSTRIAL PARK PHASE II CONDO INC PARKING SPACE 5 PER OR 7229 PG 3919 PER OR 7267 PG 1137 PER OR 7790 PG 3127
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2017
Flooring type
Concrete
Building materials
Block
Roof type
Shingle
Listing Agency:
RE/MAX Advantage
Listed By:
Eric Zimmerman
(386) 846-1515
Added: Sep 3
Last Checked: Sep 4 at 3:06AM
MLS# 1230424
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 960-square-foot warehouse unit features 14-foot ceilings, block construction, concrete flooring, a bathroom, and an exhaust fan. The building was constructed in 2017 and includes a shingle roof. Unit C connects to Unit D through an added door, while the units remain separate parcels that can be purchased together.
Located at 531 Virginia Avenue in Port Orange, the property includes parking-lot access and public water and sewer service. The association covers the roof and building insurance. The property’s configuration and existing improvements support the storage, trade-work, automotive, and business-operation uses identified for the space.
Located at 531 Virginia Avenue in Port Orange, the property includes parking-lot access and public water and sewer service. The association covers the roof and building insurance. The property’s configuration and existing improvements support the storage, trade-work, automotive, and business-operation uses identified for the space.
Key Highlights
- 960‑square‑foot warehouse unit with 14‑foot ceilings
- Block construction with concrete flooring, bathroom, and exhaust fan
- Unit C and Unit D are separate parcels with an added connecting door
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
$10,825
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
6.01%
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%
$216,500
$216.5K
Cap Rate 7%
$154,643
$154.6K
Cap Rate 9%
$120,278
$120.3K
Market Conditions
NOI Build-Up for 960 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
$18.2K $18.96/SF
− Vacancy
−$1.5K −$1.61/SF
EGI
$16.7K $17.35/SF
− OpEx
−$5.8K −$6.07/SF
NOI
$10.8K $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%
$216,500
Cap Rate 7%
$154,643
Cap Rate 9%
$120,278
Alternative Uses
Best Use
Flex RnD
$154.6K
$135.3K – $180.4K
NOI $10,825 @ 7.0% cap · market cap 6.01%
Second Best
Warehouse
$110.3K
$96.5K – $128.7K
NOI $7,721 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$283.1K
$247.7K – $330.2K
NOI $19,814 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32128, FL
20,968
Population
10,155
Households
2.1
Avg Household Size
50
Median Age
40%
College-Educated
94%
High-School Grad
33.4 sq mi
ZIP Area
628
Density / Sq Mi
$84,164
Median Household Income
$41,946
Median Earnings
$1,497
Median Rent
$378,500
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.
Similar Off Market Nearby
- Clark Properties — 5111 S Ridgewood Ave STE 300, Port Orange, FL 32127
- Stor-it Self Storage Port Orange — 720 Dunlawton Ave, Port Orange, FL 32127
- American Moving Experts — 209 Dunlawton Ave Suite 9, Port Orange, FL 32129
Frequently Asked Questions
What type of property is this?
Warehouse - Block construction, concrete flooring, a bathroom, and public utilities support storage, trade, and business operations.
Where is this warehouse located?
The property is located at 531 Virginia Avenue Port Orange, FL.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 960‑square‑foot warehouse unit with 14‑foot ceilings; Block construction with concrete flooring, bathroom, and exhaust fan; Unit C and Unit D are separate parcels with an added connecting door
