Office and medical property in Central Florida
Most office buyers in Volusia and Flagler are users: the law firm that wants to own its building rather than pay for someone else’s, the medical practice that wants to be within a few minutes of the hospital campuses, the company that has outgrown a suite and wants a building with its own sign and parking. Investors buy the multi-occupant buildings with income in place, and downtown Daytona Beach has a handful of larger buildings that trade on both bases at once — a user takes the floors it needs and underwrites the rest as income. In 2025 Frank Molnar represented the buyer of 149 S. Ridgewood Ave, an eight-story downtown office building that sold for $6.5 million.
Medical office is its own market. The county’s two largest private employers are health systems, and the practices around them need buildings with plumbing in every exam room, mechanical capacity for equipment, accessible entrances and more parking than general office. We sell and acquire both kinds: general and professional office, and the medical and clinical buildings that cost more to build and hold their value for it.
Who we represent
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Practices, firms and owner-users
Medical practices, law and accounting firms, and companies buying the building they will occupy — an existing building, an office condominium unit or a site to build on. We write the requirement, run the cost of ownership against the alternatives, source on and off market, and manage the acquisition through inspection and closing.
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Owners and investors
Owners selling a building they occupied or held for income, estates and partnerships that need a documented price, and investors buying multi-occupant office and medical buildings. The work is a broker opinion of value, an offering memorandum built for the buyer who will actually close, and direct outreach to users and investors alike.
What drives value
Office is priced on what a user can do in the building and what it will cost to keep it running:
- Parking and access. The parking ratio, visitor parking, accessible routes and how patients or clients reach the front door — the first thing a medical buyer counts.
- Building systems. Roof, HVAC, elevators, electrical capacity, fire and life safety, and the code items an older building will need addressed at the next permit.
- Fit for the use. Floor plates and build-out that match the buyer’s practice or business, plumbing and mechanical capacity for medical use, and zoning that permits it.
- Income and rollover. For multi-occupant buildings, rents in place against the market, when each space turns over and what it costs to refill it.
Location works differently for office than for retail: proximity to the hospital campuses, the courthouse, the interstate and the buyer’s clients matters more than frontage or traffic counts. For an older downtown building, the value of the site and the building’s next use belong in the analysis as well.
How we work
- Requirement or valuation For a buyer, a written acquisition requirement: use, size, parking, location, build-out, budget and timing. For a seller, a broker opinion of value per square foot and, where there is income, on the income. Not an appraisal, and it may not be relied upon as one (s. 475.612, Fla. Stat.).
- Sourcing or offering memorandum For buyers, the listed inventory plus direct outreach to owners of buildings that fit. For sellers, an offering memorandum with floor plans, the building-systems summary, parking, zoning, survey, photographs and the income documentation a buyer’s lender will ask for.
- Outreach and negotiation Users, practices, private investors and exchange buyers contacted directly, with a public listing where it serves the seller. Offers compared on price, deposit, contingencies, timing and ability to perform; letter of intent and contract negotiated with your attorney.
- Due diligence Property condition assessment, title, survey, zoning verification, environmental review where the site history calls for it, flood zone and insurance, and condominium documents where they apply — lined up before the inspection period begins.
- Closing Lender requirements, association or occupant confirmations and the closing calendar, managed day by day.
What we analyze
- Parking ratio, visitor parking and accessible routes
- Roof, HVAC, elevators, electrical capacity and life-safety systems
- Floor plates, build-out and suitability for medical or clinical use
- Plumbing and mechanical capacity for exam rooms and equipment
- Zoning and the permitted professional and medical uses
- Comparable sales per square foot and, for income buildings, cap rates
- Rents in place, rollover schedule and the cost to refill space
- Cost of ownership for an owner-user against current occupancy costs
- Property taxes at reassessment, insurance and flood zone
- Site value and the building’s next use for older downtown buildings
Central Florida context
Office and medical demand follows employers. The items below are from public sources; each carries its source and date.
- Volusia County’s largest private employers are health systems: AdventHealth (7,198 employees) and Halifax Hospital (4,811), ahead of Publix (4,007), Walmart (3,570) and Amazon (3,500), as of September 30, 2025.Volusia County Division of Economic Development, major employers.
- Deltona–Daytona Beach–Ormond Beach MSA, August 2026 (preliminary): education and health services employment up 4.2% year over year; total nonfarm jobs 230,600, up 0.9%.U.S. Bureau of Labor Statistics, Economy at a Glance, data extracted September 18, 2026.
- Orlando MSA, August 2026 (preliminary): professional and business services employment up 2.6% year over year; total nonfarm jobs 1,508,300, up 0.8%.U.S. Bureau of Labor Statistics, Economy at a Glance, September 18, 2026.
Questions we hear
Should my practice or firm own its building?
Often the answer is yes for a practice or firm that expects to be in the same place for ten years, but it is a calculation, not a rule. We put the cost of ownership — price, financing, property taxes after reassessment, insurance, maintenance and the build-out the space needs — next to what the business pays for space today, and we show what comparable buildings have sold for and what is available on and off market. Your CPA and lender weigh in on the tax treatment and the financing; we handle the real estate.
What makes a building suitable for medical use?
Plumbing and drainage to every exam room, electrical and HVAC capacity for equipment and air changes, a floor plan that supports patient flow, accessible entrances and restrooms, parking at a higher ratio than general office, and zoning that permits medical or clinical use. Converting general office to medical is possible, but the plumbing and mechanical work is the expensive part, and a buyer should price it before contract, not after.
How are office buildings valued?
An owner-user building is valued per square foot against comparable sales, adjusted for condition, parking, location and the cost of the capital items — roof, HVAC, elevators, life safety — a buyer will inherit. A multi-occupant income building is valued on net operating income capitalized at the rate buyers are paying, with the rollover schedule and the cost of refilling space priced in. Many downtown buildings are both: a user buys the building for its own space and underwrites the rest as income.
Do you sell office condominium units?
Yes. An office or medical condominium unit gives a practice or firm ownership of its own space in a shared building, with the roof, exterior, common areas and site handled by the association. Due diligence adds the condominium declaration, budget, reserves and any pending assessments to the usual title, survey and inspection work.
What does due diligence cover on an office purchase?
Title and survey, a property condition assessment covering roof, structure, HVAC, elevators and life-safety systems, an environmental review where the site history calls for it, a zoning verification for the intended use, the flood zone and insurability, and — where there is income in place — the documentation a lender will require to confirm it. We schedule these before the inspection period starts so the calendar holds.
Educational information only — not tax, legal, accounting or investment advice. A broker opinion of value is not an appraisal. Whether a practice or firm should own its building depends on its own finances and tax position; consult your CPA, attorney and lender.