Small Retail
For Sale
$198,500
Pending
1349 Ridgewood Avenue, Holly Hill, FL 32117
COMMERCIAL - Holly Hill, FL
Property Size642 SF
Lot Size0.17 Acres
Days on Market861
Property Features for 1349 Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Directions
Drive South on Ridgewood to Holly Hill. Building will be on the left
Subdivision
41 - LPGA to Granada, E of Nova
Standard status
Pending
APN
4242-45-01-0150
Size
642 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
42-14-32 N 10 FT OF LOT 13 & LOTS 14 THRU 15 EXC RD BLK A HOLLY HEIGHTS PLAT 1 MB 15 PG 122 PER OR 4481 PG 3896 PER OR 7899 PG 2032
Tax Annual Amount
1792
Legal Description
42-14-32 N 10 FT OF LOT 13 & LOTS 14 THRU 15 EXC RD BLK A HOLLY HEIGHTS PLAT 1 MB 15 PG 122 PER OR 4481 PG 3896 PER OR 7899 PG 2032
Building Details
Year built
1979
Listing Agency:
Costello Realty and Development
(386) 846-2828
Listed By:
Lucas Costello
(386) 846-2828
Added: Apr 8, 2024
Changed: Aug 4
Last Checked: Aug 16 at 3:06PM
MLS# 1121982
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.
Investment Insights
Based on property information with market context.
This 642-square-foot commercial building was constructed in 1979 and is positioned for office or retail occupancy. The property includes a parking lot and sits on a 0.17-acre parcel.
The building is located on US1 in Holly Hill, Florida, providing a commercial setting along a named U.S. route. Its compact size and existing parking configuration suit businesses seeking a smaller storefront or office location.
The building is located on US1 in Holly Hill, Florida, providing a commercial setting along a named U.S. route. Its compact size and existing parking configuration suit businesses seeking a smaller storefront or office location.
Key Highlights
- 642‑square‑foot commercial building
- 0.17‑acre parcel
- Located on US1 in Holly Hill
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
$6,047
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
3.05%
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%
$120,940
$120.9K
Cap Rate 7%
$86,386
$86.4K
Cap Rate 9%
$67,189
$67.2K
Market Conditions
NOI Build-Up for 642 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
$9.6K $15.00/SF
− Vacancy
−$992 −$1.55/SF
EGI
$8.6K $13.46/SF
− OpEx
−$2.6K −$4.04/SF
NOI
$6.0K $9.42/SF
Area
Volusia County, FL
Vacancy
10.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$120,940
Cap Rate 7%
$86,386
Cap Rate 9%
$67,189
Alternative Uses
Best Use
Retail
$86.4K
$75.6K – $100.8K
NOI $6,047 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$189.3K
$165.6K – $220.9K
NOI $13,251 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Dollar Tree
Shops & Services
12,942 visits/mo
0.4 miles
7-Eleven
Shops & Services
10,641 visits/mo
0.4 miles
Hungry Howie's Pizza
Dining
1,654 visits/mo
0.5 miles
U-Haul
Shops & Services
595 visits/mo
0.3 miles
Citgo
Shops & Services
330 visits/mo
0.3 miles
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Compact commercial building with on-site parking and stated office or retail use potential.
Where is this storefront property located?
The property is located at 1349 Ridgewood Avenue Holly Hill, FL.
What is the asking price?
The asking price for this property is $198,500.
What are key features of this property?
This property features: 642‑square‑foot commercial building; 0.17‑acre parcel; Located on US1 in Holly Hill
