Office Condo with Private
For Sale
$144,300
555 W Granada Blvd G-12 Ormond, Ormond Beach, FL 32174
Second-floor corner unit with three private offices for sale.
Property Size780 SF
Days on Market107
Property Features for 555 W Granada Blvd G-12 Ormond
General Information
Standard status
Active
Size
780 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
780 SF
Year Built
1987
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors
(386) 310-7900
Listed By:
Carl Lentz · License #3068067
(386) 310-7900
Source:
Thebrokerlist
Added: May 18
Changed: Aug 31
Last Checked: Aug 31 at 12:33PM
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.
Located in the Boulevards Office Condos, Unit G-12 is a second-floor corner unit featuring three private offices, one bathroom, and a utility/storage closet. The unit is accessible via a common area entry with a stairwell. Furniture can remain or be removed. The condo fee is $376 per month, covering insurance, landscaping, parking lot common areas (stairs), water, sewer, and trash. The estimated monthly electric bill is approximately $100. The property is located on the north side of West Granada Boulevard in the Boulevards Condo Complex, situated between US1 and Nova.
Key Highlights
- Corner unit with 3 private offices
- Condo fee covers insurance, landscaping, parking lot maintenance, water, sewer, and trash
- Convenient location on W Granada between US1 and Nova
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
$11,688
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
8.10%
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%
$233,760
$233.8K
Cap Rate 7%
$166,971
$167.0K
Cap Rate 9%
$129,867
$129.9K
Market Conditions
NOI Build-Up for 780 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
$16.8K $21.60/SF
− Vacancy
−$1.3K −$1.62/SF
EGI
$15.6K $19.98/SF
− OpEx
−$3.9K −$5.00/SF
NOI
$11.7K $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%
$233,760
Cap Rate 7%
$166,971
Cap Rate 9%
$129,867
Alternative Uses
Best Use
Office B
$167.0K
$146.1K – $194.8K
NOI $11,688 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.0K
$201.2K – $268.3K
NOI $16,099 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
812
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 units - Second-floor corner unit with three private offices for sale.
Where is this office units located?
The property is located at 555 W Granada Blvd G-12 Ormond Ormond Beach, FL.
What is the asking price?
The asking price for this property is $144,300.
What are key features of this property?
This property features: Corner unit with 3 private offices; Condo fee covers insurance, landscaping, parking lot maintenance, water, sewer, and trash; Convenient location on W Granada between US1 and Nova
