Single-Tenant Medical Office
For Sale
$2,500,000
725 W Granada Boulevard Ormond, Ormond Beach, FL 32174
Medical build-out, monument signage, and on-site parking support continued use by an established healthcare operator.
Property Size9,180 SF
Days on Market118
Property Features for 725 W Granada Boulevard Ormond
General Information
Standard status
Active
Size
9,180 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
9,180 SF
Year Built
2006
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors
(386) 295-5723
Listed By:
John Trost · License ##BK-0160420
(386) 295-5723
Source:
Thebrokerlist
Added: May 7
Changed: Aug 30
Last Checked: Aug 30 at 5:17PM
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.
This 9,180-square-foot medical office condo was built in 2006 and is configured for full medical use. The space includes high ceilings, storm-rated doors and windows, monument signage, and ample on-site parking. Ownership is supported by a single-tenant structure, with the property 100% leased to Coastal Pain & Neurology Centers under a recently signed 5-year lease. The offering carries a 6.96% cap rate.
The property fronts W. Granada Boulevard, also identified as State Road 40, on the north side of the corridor just east of Nova Road in Ormond Beach. The roadway carries over 33,500 vehicles per day, providing exposure along an established commercial route. The medical office setting and existing healthcare occupancy provide a focused configuration for an investor seeking an office condominium leased to one specialty medical practice.
The property fronts W. Granada Boulevard, also identified as State Road 40, on the north side of the corridor just east of Nova Road in Ormond Beach. The roadway carries over 33,500 vehicles per day, providing exposure along an established commercial route. The medical office setting and existing healthcare occupancy provide a focused configuration for an investor seeking an office condominium leased to one specialty medical practice.
Key Highlights
- 9,180‑square‑foot medical office condo built in 2006
- 100% leased to Coastal Pain & Neurology Centers under a recently signed 5‑year lease
- 6.96% cap rate
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
$137,562
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
5.50%
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%
$2,751,240
$2.8M
Cap Rate 7%
$1,965,171
$2.0M
Cap Rate 9%
$1,528,467
$1.5M
Market Conditions
NOI Build-Up for 9,180 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
$198.3K $21.60/SF
− Vacancy
−$14.9K −$1.62/SF
EGI
$183.4K $19.98/SF
− OpEx
−$45.9K −$5.00/SF
NOI
$137.6K $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%
$2,751,240
Cap Rate 7%
$1,965,171
Cap Rate 9%
$1,528,467
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.29M
NOI $137,562 @ 7.0% cap · market cap 5.50%
Second Best
Healthcare Medical
$1.91M
$1.67M – $2.23M
NOI $133,547 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,475 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,310
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pet Street Veterinary Care Center — 240 S Nova Rd, Ormond Beach, FL 32174
- Fleuchaus Nixo Leslie DVM — 380 W Granada Blvd, Ormond Beach, FL 32174
- Volenec Debra DVM — Ormond Beach, FL 32174
- Shadow Lake Animal Hospital — 125 N Nova Rd, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical build-out, monument signage, and on-site parking support continued use by an established healthcare operator.
Where is this medical office space located?
The property is located at 725 W Granada Boulevard Ormond Ormond Beach, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 9,180‑square‑foot medical office condo built in 2006; 100% leased to Coastal Pain & Neurology Centers under a recently signed 5‑year lease; 6.96% cap rate
