Mixed-Use Property Near Tourist
For Sale
Contact for pricing
618 N WILD OLIVE Avenue, Daytona Beach, FL 32118
Mixed-use property suitable for retail, office, or care services.
Property Size2,484 SF
Price / SF$192.83
Days on Market1111
Property Features for 618 N WILD OLIVE Avenue
General Information
Standard status
Active
Size
2,484 SF
Property subtype
Mixed Use, Office, Retail
Building Details
Year Built
1966
Listing Agency:
Miller Real Estate and Assoc.
Listed By:
Marvin Miller · License #0060353
Source:
Crexi
Added: Aug 17, 2023
Changed: Aug 25
Last Checked: Aug 30 at 5:46PM
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 Miller Real Estate and Assoc.
Investment Insights
Based on property information with market context.
This 2484-square-foot mixed-use property is located near banks, restaurants, and the tourist area, approximately two blocks from the ocean. Zoned BR-1 Business Retail, the property is suitable for various uses, including adult or child care, art gallery, second-hand retail, martial arts, personal services, senior center, or professional office. The property allows for living above your business.
Key Highlights
- Owner financing available.
- Live above your business** with BR‑1 Business Retail zoning.
- Prime location:** near banks, restaurants, and the tourist area.
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
$37,223
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
7.77%
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%
$744,460
$744.5K
Cap Rate 7%
$531,757
$531.8K
Cap Rate 9%
$413,589
$413.6K
Market Conditions
NOI Build-Up for 2,484 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
$53.7K $21.60/SF
− Vacancy
−$4.0K −$1.62/SF
EGI
$49.6K $19.98/SF
− OpEx
−$12.4K −$5.00/SF
NOI
$37.2K $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%
$744,460
Cap Rate 7%
$531,757
Cap Rate 9%
$413,589
Alternative Uses
Best Use
Office B
$531.8K
$465.3K – $620.4K
NOI $37,223 @ 7.0% cap · market cap 7.77%
Second Best
Mixed Use
$438.3K
$383.6K – $511.4K
NOI $30,684 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$732.4K
$640.9K – $854.5K
NOI $51,270 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 32118, FL
17,906
Population
16,390
Households
1.1
Avg Household Size
58
Median Age
31%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
4,263
Density / Sq Mi
$60,418
Median Household Income
$36,153
Median Earnings
$1,283
Median Rent
$339,500
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 - Mixed-use property suitable for retail, office, or care services.
Where is this mixed-use property located?
The property is located at 618 N WILD OLIVE Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Owner financing available.; Live above your business** with BR‑1 Business Retail zoning.; Prime location:** near banks, restaurants, and the tourist area.
