Listing Agency: RE/MAX FLOREALTY

Listed By: Eric Zimmerman Show Phone

Source: Exprealty

Added: Sep 3 Changed: Oct 25 Last Checked: Oct 24 at 6:22PM

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Investment Insights

Based on property information with market context.

Unit D is a 1,120-square-foot warehouse with 14-foot ceilings and an upgraded interior. Improvements include high-grade epoxy flooring, a bathroom, an A/C unit that was recently serviced, and cabinetry with countertop workspace. The configuration supports storage, automotive use, trade work, collecting, and business operations.

The property is located on Virginia Ave in Port Orange, Florida. Units C and D are separate parcels that may be acquired together, with an added door linking the two spaces. The association covers the roof and building insurance, providing defined coverage for those components.

Key Highlights

• 1,120‑square‑foot warehouse unit D
• 14 ft ceilings and high‑grade epoxy flooring
• Bathroom, serviced A/C unit, and cabinetry with countertop workspace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,008

Cap Rate

3.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$180,160 $180.2K

Cap Rate 7%

$128,686 $128.7K

Cap Rate 9%

$100,089 $100.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,120 SF

Gross rent

$11.2K $9.96/SF

− Vacancy

−$558 −$0.50/SF

EGI

$10.6K $9.46/SF

− OpEx

−$1.6K −$1.42/SF

NOI

$9.0K $8.04/SF

Area

Volusia County, FL

Vacancy

5.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$180,160

Cap Rate 7%

$128,686

Cap Rate 9%

$100,089

Alternative Uses

Best Use

Warehouse

$128.7K

$112.6K – $150.1K (±1% cap)

NOI $9,008 @ 7.0% cap · market cap 3.46%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$330.2K

$289.0K – $385.3K (±1% cap)

NOI $23,117 @ 7.0% cap · market cap 8.89%

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

Property Analytics

Current Use

Warehouses

Suggested Use

Top Pick Restaurant Law Firm Parking Lot & Garage Hair Salon Nail Salon Grocery & Convenience Store

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

Lease Details

14 ft

Clear height

Location Intelligence

Trade Area within ½ mile

1,038

Businesses Nearby

Balanced

Demand for This Use

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Warehouse - Finished commercial space combines durable flooring, climate control, workspace cabinetry, and an on-site bathroom.

Where is this warehouse located?

The property is located at D-531 Virginia Ave Port Orange, FL.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: 1,120‑square‑foot warehouse unit D; 14 ft ceilings and high‑grade epoxy flooring; Bathroom, serviced A/C unit, and cabinetry with countertop workspace