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    The Largest CRE Database in the US with Over 1 Million Listings

    1112 Riverside Dr Daytona Beach, FL 32117

    Sponsored
    For Sale
    $1,850,000

    COMMERCIAL - Holly Hill, FL

    Type:Office
    Property size:
    7,060 SF
    Lot size:
    0.43 Acres
    Days on Market:
    27
    Last Refresh:
    Jan 26 at 11:06 am

    Property Features for 1112 Riverside Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Rooms
    Bathroom 4, Bathroom 5, Bathroom 8, Bathroom 7, Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 6, Bathroom 9
    Bathrooms
    9
    APN
    4242-50-01-0020
    Parking features
    Parking Lot
    Size
    7,060 SF
    Lot size
    0.43 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Zoned, Central Air, Multi Units
    Water source
    Public

    Building Details

    Year built
    1933
    Floors in Building
    2
    Number of units
    7
    Flooring type
    Wood, Tile
    Building materials
    Concrete, Stucco
    Roof type
    Membrane

    We can help!

    Listing Contact
    Tom S Grasberger
    Tom S Grasberger

    Gaff's Realty Company (386) 756-9999

    Listing agent Tom S Grasberger (386) 843-4346

    Listing date Dec 31, 2025

    MLS# 1212940

    Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Office Building with River Views

    The Summit Professional Center is a historically designated building that has been updated. It is located across from Sunrise Park, which features riverfront space, a public dock, and parking. The building was designed with feng shui principles. The building features preserved oak flooring, craftsman-style arches, wainscoting, and a herringbone tile design in the hallways. The plumbing, electrical systems, roof, and windows have been updated, and insulation has been added. Constructed with double block materials and featuring an underground water retention system, the property is protected from water damage. Mature trees surround the property, and there is on-site parking, with additional public parking available across the street at Sunrise Park. The first floor is currently used as a legal office, featuring multiple large and small office spaces, conference rooms, file rooms, and multiple entry and exit points. The second floor is fully leased with five professional units. There is also an owner's suite featuring a full kitchen, bathroom, living area, and river views. The building offers a total of nine bathrooms, including two full baths with showers, three kitchens or kitchenettes, and two laundry areas. The property has the potential to create up to 15 rental units. The building has a total area of 7,060 square feet and is situated on a 0.43-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Natalie @The Summit Hair Salon Douglas Kneller & Thérèse ... Divorce Lawyer J D Loach ... Attorney Ozburn Julie Attorney American Barn Art Art Gallery

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.037572
    Latitude
    29.248095

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    FAQs

    What type of property is this?
    Office building - Updated historic building with modern functionality and income potential.
    Where is this office building located?
    The property is located at 1112 Riverside Dr Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: - Historic-designated building with meticulously updated major systems ensuring modern functionality and low maintenance.; - High and dry location with durable double block construction and underground water retention system providing lasting protection.; - Flexible layout with potential for up to 15 rental units, suitable for owner-occupants or investors seeking passive income.
    (386) 843-4346
    Request Owner's contact information
    1112 Riverside Dr Daytona Beach, FL 32117
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    Daytona Beach, FL 32117
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1112 Riverside Dr Daytona Beach, FL 32117
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    We can help!
    Listing Contact
    Tom S Grasberger
    Tom S Grasberger
    Real Estate License ID: 3323835
    (386) 843-4346
    Learn more
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