Auto Shop with Climate-Controlled
For Sale
$625,000
1841 S Ridgewood Avenue, South Daytona, FL 32119
Commercial Sale, South Daytona, FL
Property Size3,856 SF
Lot Size0.46 Acres
Price / SF$162.09
Days on Market275
Property Features for 1841 S Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Off Street, Driveway
Lot features
Cleared
Directions
I-4 / 95 EAST ON SR 400 ( BEVILLE RD ) TO US 1 SOUTH , BUILDING IS ON EAST SIDE .
Subdivision
25 - Daytona S of Beville, E of Nova
Standard status
Active
APN
5344-16-00-0453
Size
3,856 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
44-15-33 W 292 FT OF N 1/2 OF LOT 45A & INC S 25 FT OF LOT 46A BLAKE MB 15 PG 119 EXC E 200 FT & EXC PART IN STATE ROAD PER OR 4863 PG 2695 PER OR 7877 PG 1646 PER OR 8015 PG 3793 PER OR 8482 PG 1623
Tax Annual Amount
5410
Legal Description
44-15-33 W 292 FT OF N 1/2 OF LOT 45A & INC S 25 FT OF LOT 46A BLAKE MB 15 PG 119 EXC E 200 FT & EXC PART IN STATE ROAD PER OR 4863 PG 2695 PER OR 7877 PG 1646 PER OR 8015 PG 3793 PER OR 8482 PG 1623
Utilities
Sewer type
Public Sewer
Cooling system
Ductless, Multi Units
Amenities
detached oversized two-car garage
climate-controlled garage
Building Details
Year built
1946
Floors in Building
1
Number of units
3
Flooring type
Concrete
Building materials
Block, Stucco
Roof type
Rolled Hot Mop, Membrane
Listing Agency:
Coldwell Banker Coast Realty · Coldwell Banker Real Estate
(386) 275-1000
Listed By:
Ron Ballou · License #3235838
(386) 212-8787
Added: Nov 25, 2025
Changed: Aug 27
Last Checked: Aug 27 at 8:06PM
MLS# 1220353
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.
The offering comprises 3,856 square feet of commercial improvements on 0.46 acres, including a main building and a detached, oversized two-car garage. The rear garage is fully enclosed and climate-controlled, providing additional workspace, vehicle storage, or secure inventory capacity. The property includes concrete flooring, block and stucco construction, multiple cooling systems, public sewer, and off-street parking with a driveway. Built in 1946, the site is being offered as real estate only.
Positioned along S Ridgewood Avenue with US-1 frontage, the property benefits from a reported daily traffic volume ranging from 23,500 to 27,000 vehicles. AE zoning is in place, and surrounding parcels include commercial and multifamily zoning. The site is within the City of South Daytona’s Ridgewood Corridor Overlay District and a corridor identified for redevelopment under the city’s 2025 Land Development Regulation updates.
Positioned along S Ridgewood Avenue with US-1 frontage, the property benefits from a reported daily traffic volume ranging from 23,500 to 27,000 vehicles. AE zoning is in place, and surrounding parcels include commercial and multifamily zoning. The site is within the City of South Daytona’s Ridgewood Corridor Overlay District and a corridor identified for redevelopment under the city’s 2025 Land Development Regulation updates.
Key Highlights
- 3,856‑square‑foot commercial property on 0.46 acres
- Detached oversized two‑car garage is enclosed and climate‑controlled
- US‑1 frontage with reported traffic of 23,500 to 27,000 vehicles daily
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
$36,318
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
5.81%
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%
$726,360
$726.4K
Cap Rate 7%
$518,829
$518.8K
Cap Rate 9%
$403,533
$403.5K
Market Conditions
NOI Build-Up for 3,856 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
$57.8K $15.00/SF
− Vacancy
−$6.0K −$1.55/SF
EGI
$51.9K $13.46/SF
− OpEx
−$15.6K −$4.04/SF
NOI
$36.3K $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%
$726,360
Cap Rate 7%
$518,829
Cap Rate 9%
$403,533
Alternative Uses
Best Use
Retail
$518.8K
$454.0K – $605.3K
NOI $36,318 @ 7.0% cap · market cap 5.81%
Second Best
Industrial
$328.0K
$287.0K – $382.6K
NOI $22,957 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$1.14M
$994.9K – $1.33M
NOI $79,588 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
27,000 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
49k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 31%
Home Improvements & Furnishings 14%
SONIC Drive In
Dining
10,431 visits/mo
0.3 miles
Wendy's
Dining
9,081 visits/mo
0.2 miles
Sunoco
Shops & Services
8,582 visits/mo
0.3 miles
Madden's Ace Hardware
Home Improvements & Furnishings
7,059 visits/mo
0.4 miles
Dollar General
Shops & Services
6,756 visits/mo
0.4 miles
Demographics for 32119, FL
22,498
Population
12,629
Households
1.8
Avg Household Size
50
Median Age
27%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,884
Density / Sq Mi
$53,795
Median Household Income
$37,675
Median Earnings
$1,371
Median Rent
$215,200
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.
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Frequently Asked Questions
What type of property is this?
Auto shop - US-1 frontage, AE zoning, and an enclosed rear workspace support automotive operations and related commercial uses.
Where is this auto shop located?
The property is located at 1841 S Ridgewood Avenue South Daytona, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,856‑square‑foot commercial property on 0.46 acres; Detached oversized two‑car garage is enclosed and climate‑controlled; US‑1 frontage with reported traffic of 23,500 to 27,000 vehicles daily
