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570 Memorial Cir 23,200 SF 100% Leased Office Building Ormond Beach, FL 32174 $3,590,000 ($154.74/SF) 7.47% Cap Rate
Investment Highlights
- 23,450 SF Office Building
- Built in 1984, updated in 2007 and consistently updated
- B-1 Zoning for Professional Office and Medical use
- 16 units
- New Roof 2025
Executive Summary
Exceptional opportunity in commercial real estate investment. This impressive 23,450 SF office building, comprised of 16 units, located in the coveted Ormond Beach area. Built in 1984 and thoughtfully updated in 2007. Well maintained and consistently being updated including new air conditioners. The property is perfectly positioned for Professional office and Medical use with B-1 Zoning, catering to the discerning needs of office-building investors. New roof in 2025 as well as new and efficient LED lighting throughout.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
23,200 SF
Building Class
B
Year Built/Renovated
1985/2007
Price
$3,590,000
Price Per SF
$154.74
Cap Rate
7.47%
NOI
$268,057
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,733 SF
Building FAR
0.44
Lot Size
1.21 AC
Zoning
B-1 - professional office, medical, legal, CPA, financial
Parking
100 Spaces (4.31 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
- Kitchen
- Central Heating
- Air Conditioning
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 4241-01-01-0065 | Improvements Assessment | $1,679,157 |
| Land Assessment | $204,082 | Total Assessment | $1,883,239 |
Property Taxes
Parcel Number
4241-01-01-0065
Land Assessment
$204,082
Improvements Assessment
$1,679,157
Total Assessment
$1,883,239
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570 Memorial Cir
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