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    Modern Warehouse in Parktowne Industrial Title is generated by Realmo AI

    318 Base Leg Drive, Edgewater, FL 32132

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    For Sale
    $998,000

    6,000 SF warehouse on 1 acre in Edgewater.

    Property size:
    6,000 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $166/SF
    Added:
    Aug 13, 2022
    Days on Market:
    1389
    Last Refresh:
    May 13 at 8:34 pm

    Property Features for 318 Base Leg Drive

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Lot size
    1.00 Acre
    Property subtype
    Other

    Building Details

    Year Built
    2021

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    Listing Contact
    Tracey Barlow

    Listing agent Tracey Barlow

    Listing office The Barnett Group Inc.

    Listing date Aug 13, 2022

    Source Xome

    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.

    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
    • 200‑amp service with 3‑phase power
    • Ample open space for tailored build‑out
    • Well‑maintained industrial park with great curb appeal and plenty of parking

    Overview

    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.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

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

    Similar Places Nearby

    • Park Center Storage — 1945 W Park Ave, Edgewater, FL 32132
    • Barracuda Boat & RV Storage Edgewater — 412 W Park Ave, Edgewater, FL 32132
    • Convenient Toy Storage — 117 N Flagler Ave, Edgewater, FL 32132
    • Park Place Boat & RV Storage — 131 Park Ave, Edgewater, FL 32132
    • CubeSmart Self Storage — 200 N Ridgewood Ave, Edgewater, FL 32132

    Location Insight

    • Map
    • Local Demand
    City
    Edgewater
    County
    Volusia
    State
    Florida
    Longitude
    -80.9203521
    Latitude
    28.9882965

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    FAQs

    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
    (386) 426-7234
    We can help!
    Listing Contact
    Tracey Barlow
    Request Owner's contact information
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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.

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