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    2040 S Ridgewood Avenue South Daytona, FL 32119

    View on Map
    For Lease
    $13,376 /Mo

    COMMERCIAL - South Daytona, FL

    Property size:
    14,348 SF
    Lot size:
    0.70 Acres
    Added:
    May 19, 2025
    Days on Market:
    324
    Last Refresh:
    Apr 7 at 3:06 pm

    Property Features for 2040 S Ridgewood Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    5344-16-00-0522
    Size
    14,348 SF
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    N 75 FT OF E 175 FT OF LOT 52 & S 101 FT OF E 175 FT OF LOT 53 W OF RIDGEWOOD AVE BLAKE MB 1 PG 38 PER OR 4345 PG 2909 PER OR 8501 PG 3433
    Tax Annual Amount
    10516

    Utilities

    Heating system
    Electric (Heating), Central

    Building Details

    Year built
    1974
    Flooring type
    Concrete
    Building materials
    Block, Stucco
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    Ray Toutounchian

    Listing agent Ray Toutounchian

    Listing office Daytona Beach Real Estate LLC 2924 River Point Dr, Daytona Beach, FL

    Listing date May 19, 2025

    MLS# 1213572

    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.

    Overview

    South Daytona Mixed-Use Commercial Building

    This 14,368 square foot mixed-use commercial building is available for lease in South Daytona. The property offers excellent visibility and access, with close proximity to I-95 and I-4. The configuration is ideal for professional offices, medical, retail, or specialty use. The first floor is ADA-compliant, featuring handicap-friendly entry, bathrooms, and an elevator. Each floor includes private restrooms. An elevator provides convenient multi-level access. Ample on-site parking is available for employees and clients. The versatile layout can be easily adapted to various business needs. The property is located on a 0.7-acre lot. This well-located property is suitable for businesses seeking functionality, accessibility, and strategic positioning near major transportation routes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -81.002706
    Latitude
    29.172269

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    FAQs

    What type of property is this?
    Mixed-use property - 14,368 SF mixed-use building for lease in South Daytona.
    Where is this mixed-use property located?
    The property is located at 2040 S Ridgewood Avenue South Daytona, FL.
    What is the lease rate?
    The lease rate is $13,376 /Mo.
    What are key features of this property?
    This property features: Prime location in South Daytona with excellent visibility and access, close to I‑95 and I‑4.; **14,368 SF mixed‑use configuration ideal for offices, medical, retail, or specialty use.**; ADA‑compliant first floor with handicap‑friendly entry, bathrooms, and elevator.
    (386) 527-9787
    We can help!
    Listing Contact
    Ray Toutounchian
    Learn More
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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
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