Daytona Beach Retail Investment
915 Ridgewood Ave Daytona Beach, FL
For Sale
Contact for pricing
Fully occupied two-tenant retail asset in Daytona Beach, Florida.
Property Size4,702 SF
Lot Size0.36 Acres
Price / SF$413.65
Days on Market629
Property Features for 915 Ridgewood Ave
General Information
Standard status
Active
Size
4,702 SF
Lot size
0.36 Acres
Property subtype
RETAIL
Listing Agency:
SRS Real Estate Partners | Tampa
(813) 371-1079
Listed By:
Daniel Becker · License #FL BK3120739
(813) 675-5004
Source:
Moodyscre
Added: Nov 7, 2024
Changed: Jul 6
Last Checked: Jul 21 at 5:03AM
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 SRS Real Estate Partners | Tampa
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire a fully occupied, two-tenant retail asset located in Daytona Beach, Florida. The property is currently leased to Green Dragon and Marijuana Doctor. Green Dragon operates under a 10-year lease with two 5-year options to extend. Marijuana Doctor operates under a 5-year lease with two 2-year options to extend, demonstrating commitment to the location. Both tenants' leases include rental increases throughout the initial term and each option period, generating net operating income and hedging against inflation. The property size is 4,702 square feet.
Key Highlights
- 100% occupied two‑tenant asset.
- Green Dragon operating under a 10‑year lease with options to extend.
- Marijuana Doctor operating under a 5‑year lease with options to extend.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.3k | $21.96 |
| − Vacancy | −$8.1k | −$1.71 |
| EGI | $95.2k | $20.25 |
| − OpEx | −$23.8k | −$5.06 |
| NOI | $71.4k | $15.19 |
4,702 SF · lease $21.96/SF/yr · vacancy 7.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.02M
$892.5K – $1.19M
NOI $71,401 @ 7.0% cap · market cap 3.67%
Second Best
Retail
$632.7K
$553.6K – $738.1K
NOI $44,286 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,049 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Fully occupied two-tenant retail asset in Daytona Beach, Florida.
Where is this retail space located?
The property is located at 915 Ridgewood Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,945,000.
What are key features of this property?
This property features: 100% occupied two‑tenant asset.; Green Dragon operating under a 10‑year lease with options to extend.; Marijuana Doctor operating under a 5‑year lease with options to extend.
