Concrete Block Showroom
For Sale
$2,650,000
311 S RIDGEWOOD Avenue, Edgewater, FL 32132
Commercial Sale, EDGEWATER, FL
Property Size13,500 SF
Lot Size1.32 Acres
Price / SF$196.30
Days on Market82
Property Features for 311 S RIDGEWOOD Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
B-3
Subdivision
INDIAN RIVER ESTS REPLAT
Lot features
Corner Lot, City Limits, Paved
Directions
From 509 Canal Street in New Smyrna Beach, head west on Canal Street (FL-44) and continue across the North Causeway bridge. Follow FL-44 west for approximately 3 miles, then turn left onto US-1 South (South Ridgewood Avenue) toward Edgewater. Continue south on US-1 for about 9 miles, passing through the center of Edgewater. The destination, 311 S Ridgewood Avenue, will be on your right. The drive is approximately 15-20 minutes, depending on traffic.
Standard status
Active
APN
52-17-34-04-00-0040
Size
13,500 SF
Lot size
1.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 4 EXC IRREG PARCEL FOR NEW R/W IN W 4.34 FT ON S/L OF S 539.29 FT ON W/L INDIAN RIVER ESTS REPLAT MB 8 PG 289 PER OR 2278 PG 305 PER OR 5316 PG 3631 & PER OR 5504 PG 1888
Tax Annual Amount
23124
Legal Description
LOT 4 EXC IRREG PARCEL FOR NEW R/W IN W 4.34 FT ON S/L OF S 539.29 FT ON W/L INDIAN RIVER ESTS REPLAT MB 8 PG 289 PER OR 2278 PG 305 PER OR 5316 PG 3631 & PER OR 5504 PG 1888
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Building materials
Block, Stucco
Listing Agency:
WHITE WHALE REAL ESTATE
(388) 689-5171
Listed By:
Timothy Loomis · License #3457334
(386) 690-3423
Added: Jun 16
Changed: Aug 24
Last Checked: Sep 5 at 11:06PM
MLS# NS1088379
Copyright © 2026 Stellar MLS. 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 13,500-square-foot showroom building was constructed in 2006 with concrete block and stucco materials. The property includes central air conditioning, electric heat, and a heat pump system. Public water and public sewer serve the site, with phone service available.
The 1.32-acre property is located at 311 S Ridgewood Avenue in Edgewater, along US 1 and 2 miles south of Hwy 44. Its B-3 zoning supports its commercial positioning, while the combination of showroom space, substantial land area, and established utility connections provides a clear physical profile for commercial users.
The 1.32-acre property is located at 311 S Ridgewood Avenue in Edgewater, along US 1 and 2 miles south of Hwy 44. Its B-3 zoning supports its commercial positioning, while the combination of showroom space, substantial land area, and established utility connections provides a clear physical profile for commercial users.
Key Highlights
- 13,500‑square‑foot showroom building on 1.32 acres
- Concrete block and stucco construction completed in 2006
- Located on US 1, 2 miles south of Hwy 44
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
$127,150
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
4.80%
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%
$2,543,000
$2.5M
Cap Rate 7%
$1,816,429
$1.8M
Cap Rate 9%
$1,412,778
$1.4M
Market Conditions
NOI Build-Up for 13,500 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
$202.5K $15.00/SF
− Vacancy
−$20.9K −$1.55/SF
EGI
$181.6K $13.46/SF
− OpEx
−$54.5K −$4.04/SF
NOI
$127.1K $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%
$2,543,000
Cap Rate 7%
$1,816,429
Cap Rate 9%
$1,412,778
Alternative Uses
Best Use
Retail
$1.82M
$1.59M – $2.12M
NOI $127,150 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,640 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Murphy USA
Shops & Services
5,417 visits/mo
0.2 miles
Dollar General
Shops & Services
5,250 visits/mo
0.4 miles
BP
Shops & Services
2,639 visits/mo
0.2 miles
CubeSmart Self Storage
Shops & Services
848 visits/mo
0.4 miles
Demographics for 32132, FL
8,189
Population
4,266
Households
1.9
Avg Household Size
52
Median Age
19%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
1,170
Density / Sq Mi
$53,860
Median Household Income
$34,816
Median Earnings
$1,316
Median Rent
$234,900
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?
Showroom - B-3-zoned commercial showroom with public water and sewer service.
Where is this showroom located?
The property is located at 311 S RIDGEWOOD Avenue Edgewater, FL.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 13,500‑square‑foot showroom building on 1.32 acres; Concrete block and stucco construction completed in 2006; Located on US 1, 2 miles south of Hwy 44
