Warehouse with Dual Bay
For Sale
$769,000
2224 Hibiscus Drive, Edgewater, FL 32141
Commercial Sale, Edgewater, FL
Property Size4,360 SF
Lot Size0.31 Acres
Price / SF$175.57
Days on Market219
Property Features for 2224 Hibiscus Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot, Assigned
Security features
Security Lighting
Subdivision
Florida Shores
Lot features
Cleared
Directions
South on US 1 to SR 442 Indian River Blvd head West to Hibiscus, turn left head South to 2224 on the right.
Standard status
Active
APN
8402-01-06-8680
Size
4,380 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 6868 & 6869 BLK 225 FLORIDA SHORES NO 7 REVISED PLAT MB 23 PG 131 PER OR 5219 PG 2074 PER OR 6689 PG 1236 PER OR 7414 PGS 4668-4669 PER OR 8723 PG 2655
Tax Annual Amount
767
Legal Description
LOTS 6868 & 6869 BLK 225 FLORIDA SHORES NO 7 REVISED PLAT MB 23 PG 131 PER OR 5219 PG 2074 PER OR 6689 PG 1236 PER OR 7414 PGS 4668-4669 PER OR 8723 PG 2655
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Collado Real Estate
(386) 427-0002
Listed By:
Bryan Disbrow · License #521363
(386) 690-2558
Added: Feb 3
Changed: Aug 20
Last Checked: Sep 10 at 5:06AM
MLS# 1222596
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.
Planned as a new warehouse in Edgewater’s commercial district, this pre-construction property will occupy a 0.31-acre lot and is identified with B2 zoning. The building is designed with concrete flooring, metal siding, a metal roof, and interior walls exceeding 20 feet in height. Insulation membrane is included for flexible storage or manufacturing configurations.
Access is provided by two 14 x 14 ft bay doors on the east-facing front, along with two entry doors and two exit doors on the west side. The property is planned with 5 public parking spots plus additional employee parking area. A parking lot, assigned parking, public water, public sewer, cable availability, and an in-ground sprinkler system are included among the listed property features. The structure is specified to withstand winds up to 150 mph.
Access is provided by two 14 x 14 ft bay doors on the east-facing front, along with two entry doors and two exit doors on the west side. The property is planned with 5 public parking spots plus additional employee parking area. A parking lot, assigned parking, public water, public sewer, cable availability, and an in-ground sprinkler system are included among the listed property features. The structure is specified to withstand winds up to 150 mph.
Key Highlights
- Pre‑construction warehouse on a 0.31‑acre lot with B2 zoning
- Two 14 x 14 ft bay doors on the east front side
- Interior walls exceeding 20+ ft with insulation membrane
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
$35,227
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
4.58%
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%
$704,540
$704.5K
Cap Rate 7%
$503,243
$503.2K
Cap Rate 9%
$391,411
$391.4K
Market Conditions
NOI Build-Up for 4,380 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
$43.6K $9.96/SF
− Vacancy
−$2.2K −$0.50/SF
EGI
$41.4K $9.46/SF
− OpEx
−$6.2K −$1.42/SF
NOI
$35.2K $8.04/SF
Area
Volusia County, FL
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$704,540
Cap Rate 7%
$503,243
Cap Rate 9%
$391,411
Alternative Uses
Best Use
Warehouse
$503.2K
$440.3K – $587.1K
NOI $35,227 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,403 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32141, FL
17,955
Population
9,400
Households
1.9
Avg Household Size
54
Median Age
23%
College-Educated
93%
High-School Grad
23.6 sq mi
ZIP Area
761
Density / Sq Mi
$61,110
Median Household Income
$37,874
Median Earnings
$1,481
Median Rent
$244,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Pre-construction commercial building with B2 zoning, concrete floors, metal siding, and public water and sewer service.
Where is this warehouse located?
The property is located at 2224 Hibiscus Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Pre‑construction warehouse on a 0.31‑acre lot with B2 zoning; Two 14 x 14 ft bay doors on the east front side; Interior walls exceeding 20+ ft with insulation membrane
