DeBary Office Park Land
For Sale
Contact for pricing
Pending
66 Spring Vista Dr, Debary, FL 32713
Land parcel in established office park, build to suit opportunity.
Property Size3,000 SF
Days on Market1424
Property Features for 66 Spring Vista Dr
General Information
Standard status
Pending
Size
3,000 SF
Class
A
Property subtype
Land, Office
Building Details
Year Built
2025
Buildings
1
Stories
1
Listing Agency:
Invision Development
(407) 617-1234
Listed By:
Bennet Sebastian · License #BK3347295
Source:
Crexi
Added: Oct 4, 2022
Changed: Aug 23
Last Checked: Aug 25 at 10:43PM
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 Invision Development
Investment Insights
Based on property information with market context.
This property is a build-to-suit opportunity for a medical or professional office building, situated within the Springview Office Center, a planned development in Debary, Florida. The office park consists of twenty office parcels, with only two lots remaining. The existing buildings in the center are a combination of medical and professional offices. The location is off of 17-92, approximately 1 mile north of the Sunrail station. Debary Main Street, a large master-planned development featuring a mix of office, retail, and multifamily units, is immediately to the south and is scheduled to break ground in 2023. Several other residential neighborhoods are under construction or in planning near the site. The property size is 3000 square feet. The price includes a full interior buildout for professional office use. Additional costs for medical office use, including medical impact fees, cabinets, and sinks, are not included in the base price.
Key Highlights
- Build‑to‑suit medical or professional office building.
- Located within Springview Office Center, a professional office park.
- Only two lots remaining in the development.
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
$44,955
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
5.00%
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%
$899,100
$899.1K
Cap Rate 7%
$642,214
$642.2K
Cap Rate 9%
$499,500
$499.5K
Market Conditions
NOI Build-Up for 3,000 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
$64.8K $21.60/SF
− Vacancy
−$4.9K −$1.62/SF
EGI
$59.9K $19.98/SF
− OpEx
−$15.0K −$5.00/SF
NOI
$45.0K $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%
$899,100
Cap Rate 7%
$642,214
Cap Rate 9%
$499,500
Alternative Uses
Best Use
Office B
$642.2K
$561.9K – $749.3K
NOI $44,955 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,920 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 32713, FL
22,438
Population
10,013
Households
2.2
Avg Household Size
50
Median Age
31%
College-Educated
95%
High-School Grad
19.1 sq mi
ZIP Area
1,175
Density / Sq Mi
$87,354
Median Household Income
$51,733
Median Earnings
$1,479
Median Rent
$306,800
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?
Commercial land - Land parcel in established office park, build to suit opportunity.
Where is this commercial land located?
The property is located at 66 Spring Vista Dr Debary, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Build‑to‑suit medical or professional office building.; Located within Springview Office Center, a professional office park.; Only two lots remaining in the development.
