Concrete-Block Mixed-Use
For Sale
$3,650,000
600 Mason Ave Unit 120, Daytona Beach, FL 32117
Office and retail property with vacant space plus a new ten-year NNN veterinary clinic lease.
Property Size20,350 SF
Price / SF$179.36
Days on Market328
Property Features for 600 Mason Ave Unit 120
General Information
Standard status
Active
Size
20,350 SF
Property subtype
Commercial
Additional Details
Anchor Co-Tenants
franchise Veterinary Clinic
Building Details
Year Built
2008
Construction
Concrete-Block
Tenancy
Multi
Listing Agency:
SVN Alliance Commercial Real Estate Advisors
(386) 310-7900
Listed By:
Carl Lentz · License #3068067
Source:
Findpalmcoasthouses
Added: Oct 8, 2025
Changed: Aug 29
Last Checked: Aug 30 at 5:49PM
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.
Built in 2008, this 20,350-square-foot mixed-use property combines office and retail space in a concrete-block center. The layout includes vacant area for an owner-user, while existing tenancy provides an operating income component.
A new ten-year NNN lease has been executed with a franchise veterinary clinic, and the property also includes other long-term tenants. The asset is located at 600 Mason Ave Unit 120 in Daytona Beach, Florida, 32117.
A new ten-year NNN lease has been executed with a franchise veterinary clinic, and the property also includes other long-term tenants. The asset is located at 600 Mason Ave Unit 120 in Daytona Beach, Florida, 32117.
Key Highlights
- 20,350‑square‑foot office and retail center
- Concrete‑block construction completed in 2008
- New ten‑year NNN lease with a franchise veterinary clinic
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
$304,945
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
8.35%
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%
$6,098,900
$6.1M
Cap Rate 7%
$4,356,357
$4.4M
Cap Rate 9%
$3,388,278
$3.4M
Market Conditions
NOI Build-Up for 20,350 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
$439.6K $21.60/SF
− Vacancy
−$33.0K −$1.62/SF
EGI
$406.6K $19.98/SF
− OpEx
−$101.6K −$5.00/SF
NOI
$304.9K $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%
$6,098,900
Cap Rate 7%
$4,356,357
Cap Rate 9%
$3,388,278
Alternative Uses
Best Use
Office B
$4.36M
$3.81M – $5.08M
NOI $304,945 @ 7.0% cap · market cap 8.35%
Second Best
Mixed Use
$3.59M
$3.14M – $4.19M
NOI $251,373 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$6.00M
$5.25M – $7.00M
NOI $420,024 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
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?
Mixed-use property - Office and retail property with vacant space plus a new ten-year NNN veterinary clinic lease.
Where is this mixed-use property located?
The property is located at 600 Mason Ave Unit 120 Daytona Beach, FL.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 20,350‑square‑foot office and retail center; Concrete‑block construction completed in 2008; New ten‑year NNN lease with a franchise veterinary clinic
