Mixed-Use Property with
For Sale
$1,200,000
468 Ridgewood Avenue, Holly Hill, FL 32117
Residential Income, Holly Hill, FL
Property Size12,518 SF
Lot Size1.03 Acres
Price / SF$95.86
Days on Market440
Property Features for 468 Ridgewood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Commercial
Bedrooms
5
Bathrooms
9
Full bathrooms
9
Rooms
Bedroom 2, Bathroom 5, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 9, Bathroom 2, Bathroom 7, Bathroom 8, Bedroom 1, Bedroom 3, Bedroom 5
Parking features
Gated, Guest, Parking Lot, Assigned, Off Street, Driveway, Secured, Garage, RV
Fencing
Chain Link, Fenced
Appliances
Tankless Water Heater, Refrigerator, Microwave, Instant Hot Water, Electric Water Heater, Electric Oven
Subdivision
Not on the List
Lot features
Cleared
Directions
From US 1 and Mason, go north on US 1, property. of left after 3rd. street
Standard status
Active
APN
4244-01-22-0310
Size
12,518 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
37-15-33 LOTS 31 & 32 EXC RD BLK 22 MASON & CARSWELLS HOLLY HILL DB O PG 312 MB 14 PG 21 RESUB OF MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 4495 PG 2336 PER OR 7434 PGS 0144-0145 PER OR 8212 PG 2221 PER OR 8281 PG 0835 PER OR 8399 PG 47
Tax Annual Amount
9912
Legal Description
37-15-33 LOTS 31 & 32 EXC RD BLK 22 MASON & CARSWELLS HOLLY HILL DB O PG 312 MB 14 PG 21 RESUB OF MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 4495 PG 2336 PER OR 7434 PGS 0144-0145 PER OR 8212 PG 2221 PER OR 8281 PG 0835 PER OR 8399 PG 47
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Electric (Heating), Central
Cooling system
Separate Meters, Multi Units, Window Unit(s), Varies by Unit, Electric, Wall/Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1947
Floors in Building
2
Number of units
12
Flooring type
Carpet, Tile, Laminate
Building materials
Block, Stucco
Roof type
Metal
Additional Structures
Workshop
Listing Agency:
Oceans Luxury Realty Full Service LLC
(386) 236-3700
Listed By:
Sean Hurley
(386) 566-6031
Added: Jul 1, 2025
Changed: Sep 12
Last Checked: Sep 13 at 11:06AM
MLS# 1215168
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 1.03-acre mixed-use property contains three stand-alone masonry buildings totaling 12,518 square feet. The primary two-story structure measures approximately 10,250 square feet and includes two commercial suites, seven storage units, a private residence, and four unfinished units. Two newer HVAC systems and four mini-split units serve the building. A separate 1,420-square-foot building contains three residential units, including two studios and one one-bedroom unit, while a 640-square-foot standalone building provides another one-bedroom residence.
The property has 150 linear feet of frontage along US-1 in Holly Hill’s designated redevelopment district and is zoned CC1. Its location is within four miles of Halifax Health Medical Center, Daytona Beach International Airport, Daytona International Speedway, Daytona State College/UCF, and Embry-Riddle Aeronautical University, with connectivity to the A1A beachside corridor, I-95, and I-4. A fully fenced half-acre rear yard is used for managed RV, boat, and trailer storage. Public water and sewer serve the property.
The property has 150 linear feet of frontage along US-1 in Holly Hill’s designated redevelopment district and is zoned CC1. Its location is within four miles of Halifax Health Medical Center, Daytona Beach International Airport, Daytona International Speedway, Daytona State College/UCF, and Embry-Riddle Aeronautical University, with connectivity to the A1A beachside corridor, I-95, and I-4. A fully fenced half-acre rear yard is used for managed RV, boat, and trailer storage. Public water and sewer serve the property.
Key Highlights
- 1.03‑acre mixed‑use property with 12,518 square feet across three stand‑alone masonry buildings
- 150 linear feet of US‑1 frontage; property is zoned CC1
- Approximately 10,250‑square‑foot two‑story building with two commercial suites, seven storage units, one residence, and four unfinished units
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
$95,388
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
7.95%
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%
$1,907,760
$1.9M
Cap Rate 7%
$1,362,686
$1.4M
Cap Rate 9%
$1,059,867
$1.1M
Market Conditions
NOI Build-Up for 12,518 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
$193.8K $15.48/SF
− Vacancy
−$20.3K −$1.63/SF
EGI
$173.4K $13.85/SF
− OpEx
−$78.0K −$6.23/SF
NOI
$95.4K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
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%
$1,907,760
Cap Rate 7%
$1,362,686
Cap Rate 9%
$1,059,867
Alternative Uses
Best Use
Mixed Use
$2.21M
$1.93M – $2.58M
NOI $154,629 @ 7.0% cap · market cap 12.89%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,388 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,372 @ 7.0% cap · market cap 21.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CC1-zoned holding with multiple buildings, residential units, commercial suites, storage, and a fenced rear yard.
Where is this mixed-use property located?
The property is located at 468 Ridgewood Avenue Holly Hill, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1.03‑acre mixed‑use property with 12,518 square feet across three stand‑alone masonry buildings; 150 linear feet of US‑1 frontage; property is zoned CC1; Approximately 10,250‑square‑foot two‑story building with two commercial suites, seven storage units, one residence, and four unfinished units
