Modern Warehouse in Parktowne
For Sale
$998,000
318 Base Leg Drive, Edgewater, FL 32132
6,000 SF warehouse on 1 acre in Edgewater.
Property Size6,000 SF
Lot Size1.00 Acre
Price / SF$166.33
Days on Market1681
Property Features for 318 Base Leg Drive
General Information
Standard status
Active
Size
6,000 SF
Lot size
1.00 Acre
Property subtype
Other
Amenities
3
Industrial Area, City Road.
Building Details
Year Built
2021
Listing Agency:
The Barnett Group Inc.
(386) 426-7234
Listed By:
Tracey Barlow · License #3438904
(386) 566-3715
Source:
Xome
Added: Jan 23, 2022
Changed: Aug 12
Last Checked: Aug 30 at 3:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Barnett Group Inc.
Investment Insights
Based on property information with market context.
This 6,000-square-foot warehouse, constructed in 2021, is situated on a 1-acre parcel within the Parktowne Industrial Park in Edgewater. The property features ample open space, allowing for a tailored build-out, and includes two existing restrooms. Three large 16' x 16' overhead doors provide ample clearance, complemented by 20' ceilings. The property is nicely landscaped and offers plenty of parking. It is equipped with 200-amp service and 3-phase power. The location provides convenient access to I-95 and is strategically positioned between Central Florida's S.R. 528 and I-4 corridor, and is minutes from the Kennedy Space Center and the aerospace industry. The Parktowne Industrial Park in Edgewater is well-maintained and hosts a variety of compatible businesses.
Key Highlights
- 6,000 sq ft warehouse built in 2021 on 1‑acre in Parktowne Industrial Park
- Convenient access to I‑95, SR 528, I‑4, Kennedy Space Center, and the Aerospace Industry
- Features three 16' x 16' overhead doors and 20' ceilings
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
$48,256
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
4.84%
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%
$965,120
$965.1K
Cap Rate 7%
$689,371
$689.4K
Cap Rate 9%
$536,178
$536.2K
Market Conditions
NOI Build-Up for 6,000 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
$59.8K $9.96/SF
− Vacancy
−$3.0K −$0.50/SF
EGI
$56.8K $9.46/SF
− OpEx
−$8.5K −$1.42/SF
NOI
$48.3K $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%
$965,120
Cap Rate 7%
$689,371
Cap Rate 9%
$536,178
Alternative Uses
Best Use
Warehouse
$689.4K
$603.2K – $804.3K
NOI $48,256 @ 7.0% cap · market cap 4.84%
Second Best
Industrial
$510.3K
$446.5K – $595.4K
NOI $35,721 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,840 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 6,000 SF warehouse on 1 acre in Edgewater.
Where is this warehouse located?
The property is located at 318 Base Leg Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: 6,000 sq ft warehouse built in 2021 on 1‑acre in Parktowne Industrial Park; Convenient access to I‑95, SR 528, I‑4, Kennedy Space Center, and the Aerospace Industry; Features three 16' x 16' overhead doors and 20' ceilings
