Port Orange Industrial Buildings For
For Sale
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601 Lemon St, Port Orange, FL 32127
Two industrial buildings totaling 19,500 SF on 1.42 acres.
Property Size19,500 SF
Lot Size1.42 Acres
Price / SF$135
Days on Market631
Property Features for 601 Lemon St
General Information
Standard status
Active
Size
19,500 SF
Lot size
1.42 Acres
Property subtype
Industrial
Zoning
Commercial Industrial - Port Orange
Lease Type
NNN
Building Details
Year Renovated
1980
Buildings
2
Units
2
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors
(386) 566-4917
Listed By:
Carl Lentz IV, CCIM · License #FL SL597616
Source:
Crexi
Added: Nov 15, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:46AM
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.
Two buildings, totaling 19,500 square feet, are available for purchase on two parcels comprising 1.42 acres. Building 1 offers 12,000 square feet of space with a ceiling height of 12+ feet, including 900 square feet of office space. It features six roll-up doors, 3-phase power, and warehouse dimensions of 200 feet by 50 feet deep. Building 2 provides 7,500 square feet of space with 14+ foot ceilings, four roll-up doors, and dimensions of 125 feet by 60 feet. It includes two private offices and two restrooms. The property benefits from direct access from Dunlawton Avenue, ample parking, and tractor-trailer access. It is zoned Commercial Industrial in Port Orange. A lease with an option to purchase is available.
Key Highlights
- Two buildings totaling 19,500 SF on 1.42 acres.
- Easy access directly from Dunlawton Ave with ample parking and tractor trailer access.
- Building 1: 12,000 SF with 12'+ ceiling height, 6 roll‑up doors, and 3‑phase power.**
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
$116,093
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
4.41%
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%
$2,321,860
$2.3M
Cap Rate 7%
$1,658,471
$1.7M
Cap Rate 9%
$1,289,922
$1.3M
Market Conditions
NOI Build-Up for 19,500 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
$175.5K $9.00/SF
− Vacancy
−$9.7K −$0.50/SF
EGI
$165.8K $8.50/SF
− OpEx
−$49.8K −$2.55/SF
NOI
$116.1K $5.95/SF
Area
Volusia County, FL
Vacancy
5.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,321,860
Cap Rate 7%
$1,658,471
Cap Rate 9%
$1,289,922
Alternative Uses
Best Use
Industrial
$1.66M
$1.45M – $1.93M
NOI $116,093 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.75M
$5.03M – $6.71M
NOI $402,480 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 32127, FL
29,999
Population
15,898
Households
1.9
Avg Household Size
53
Median Age
30%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
2,013
Density / Sq Mi
$65,260
Median Household Income
$39,196
Median Earnings
$1,324
Median Rent
$301,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Two industrial buildings totaling 19,500 SF on 1.42 acres.
Where is this industrial property located?
The property is located at 601 Lemon St Port Orange, FL.
What is the asking price?
The asking price for this property is $2,632,500.
What are key features of this property?
This property features: Two buildings totaling 19,500 SF on 1.42 acres.; Easy access directly from Dunlawton Ave with ample parking and tractor trailer access.; Building 1: 12,000 SF with 12'+ ceiling height, 6 roll‑up doors, and 3‑phase power.**
