Remodeled Office
For Sale
$139,000
555 W Granada Boulevard B7, Ormond Beach, FL 32174
Upper-level suite with multiple private rooms and an updated professional interior.
Property Size784 SF
Price / SF$177.30
Days on Market42
Property Features for 555 W Granada Boulevard B7
General Information
Standard status
Active
Size
784 SF
Additional Details
Floor
upper-level
Building Details
Year Built
1988
Listing Agency:
NEXTIER
(386) 846-9150
Listed By:
Ursula Merrifield
Source:
Livewelltampabay
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 7:55PM
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 NEXTIER
Investment Insights
Based on property information with market context.
This 784-square-foot upper-level office unit was remodeled with contemporary finishes and includes three private offices or rooms. The layout can accommodate executive work areas, meeting rooms, treatment rooms, or collaborative use, subject to applicable requirements. Its professional presentation supports a range of office-based configurations while providing a comfortable setting for clients and staff.
The suite is located at 555 W Granada Boulevard in Ormond Beach, within a corridor offering access to nearby shops, restaurants, and major thoroughfares. The building dates to 1988, while the suite’s updated interior provides a more current work environment for an owner-user or commercial investor.
The suite is located at 555 W Granada Boulevard in Ormond Beach, within a corridor offering access to nearby shops, restaurants, and major thoroughfares. The building dates to 1988, while the suite’s updated interior provides a more current work environment for an owner-user or commercial investor.
Key Highlights
- 784 SF upper‑level office unit
- Three private offices or rooms
- Remodeled interior with modern finishes
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
$11,748
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
8.45%
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%
$234,960
$235.0K
Cap Rate 7%
$167,829
$167.8K
Cap Rate 9%
$130,533
$130.5K
Market Conditions
NOI Build-Up for 784 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
$16.9K $21.60/SF
− Vacancy
−$1.3K −$1.62/SF
EGI
$15.7K $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%
$234,960
Cap Rate 7%
$167,829
Cap Rate 9%
$130,533
Alternative Uses
Best Use
Office B
$167.8K
$146.9K – $195.8K
NOI $11,748 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.2K
$202.3K – $269.7K
NOI $16,182 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Upper-level suite with multiple private rooms and an updated professional interior.
Where is this office units located?
The property is located at 555 W Granada Boulevard B7 Ormond Beach, FL.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: 784 SF upper‑level office unit; Three private offices or rooms; Remodeled interior with modern finishes
