Renovated Second-Floor Office
New
For Sale
$129,000
555 W Granada Boulevard, Ormond Beach, FL 32174
Commercial Sale, Ormond Beach, FL
Property Size714 SF
Lot Size1.00 Acre
Price / SF$180.67
Days on Market2
Property Features for 555 W Granada Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
From I-95, take Exit 268 for FL-40 / Ormond Beach / Granada Blvd. Head east on Granada Blvd (FL-40) toward Ormond Beach. Continue straight for about 2.5 miles. Look for 555 West Granada Blvd on your left-hand side. It is located in The Boulevard Executive Park.
Subdivision
45 - Ormond N of 40, W of US1, E of 95
Standard status
Active
APN
4241-28-00-0002
Size
714 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
COMMON AREA FOR BOULEVARD I CONDO PER OR 3206 PG 218
Legal Description
COMMON AREA FOR BOULEVARD I CONDO PER OR 3206 PG 218
Amenities
built-in ceiling speakers
pre-wired wall mount for TV/monitor
Listing Agency:
Realty Pros Commercial
(386) 253-8565
Listed By:
Kayla Williams · License #3506971
(386) 338-1330
Added: Sep 15
Last Checked: Sep 16 at 5:06PM
MLS# 1230829
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 714-square-foot office suite occupies the second floor at 555 W Granada Boulevard in Ormond Beach. The renovated interior uses an open layout with a bright finish palette and tile flooring throughout, creating a clean, functional workspace. A conference table is included, and the suite is pre-wired for a wall-mounted TV or monitor.
Building improvements include a new roof completed in June 2025 and a high-efficiency HVAC system that is less than three years old. Built-in ceiling speakers add integrated audio capability, while the suite’s location on W Granada Boulevard places the office within Ormond Beach’s commercial corridor.
Building improvements include a new roof completed in June 2025 and a high-efficiency HVAC system that is less than three years old. Built-in ceiling speakers add integrated audio capability, while the suite’s location on W Granada Boulevard places the office within Ormond Beach’s commercial corridor.
Key Highlights
- 714 SF second‑floor office suite
- Open‑concept layout with tile flooring throughout
- New roof completed in June 2025
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
$10,699
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
8.29%
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%
$213,980
$214.0K
Cap Rate 7%
$152,843
$152.8K
Cap Rate 9%
$118,878
$118.9K
Market Conditions
NOI Build-Up for 714 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
$15.4K $21.60/SF
− Vacancy
−$1.2K −$1.62/SF
EGI
$14.3K $19.98/SF
− OpEx
−$3.6K −$5.00/SF
NOI
$10.7K $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%
$213,980
Cap Rate 7%
$152,843
Cap Rate 9%
$118,878
Alternative Uses
Best Use
Office B
$152.8K
$133.7K – $178.3K
NOI $10,699 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.5K
$184.2K – $245.6K
NOI $14,737 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,171
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Open-concept workspace includes tile flooring and built-in ceiling speakers.
Where is this office units located?
The property is located at 555 W Granada Boulevard Ormond Beach, FL.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: 714 SF second‑floor office suite; Open‑concept layout with tile flooring throughout; New roof completed in June 2025
