601 Lemon St, Port Orange, FL 32127

Building Details

Year Renovated 1980 More

Buildings 2 More

Units 2 More

Listing Agency: SVN | Alliance Commercial Real Estate Advisors

Listed By: Carl Lentz IV, CCIM · License FL #3068067 Show Phone

Source: Crexi

Added: Nov 15, 2024 Changed: Aug 8 Last Checked: Aug 8 at 11:46AM

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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 / Yr

$116,093

Cap Rate

4.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,321,860 $2.3M

Cap Rate 7%

$1,658,471 $1.7M

Cap Rate 9%

$1,289,922 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,500 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $402,480 @ 7.0% cap · market cap 15.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Industrial properties

Suggested Use

Top Pick Parking Lot & Garage Law Firm Grocery & Convenience Store (Bike/Boat/Book/etc) Store Restaurant Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Average Price Trend$/SF for Industrial properties in Volusia County, FL

$271 Jul

$282 Aug

$292 Sep

$242 Oct

Properties on Market for Industrial properties in Volusia County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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.**