8-Unit Apartment Building with
For Sale
$549,900
1202 Ridgewood Ave, Daytona Beach, FL 32117
Fully occupied apartment property with efficiency units and a commercial-grade swimming pool.
Property Size2,112 SF
Price / SF$260.37
Days on Market13
Property Features for 1202 Ridgewood Ave
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
8 x efficiency
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$4,619
Amenities
commercial-grade swimming pool
Listing Agency:
3 Dot Realty, LLC
(386) 235-0670
Listed By:
Rodolphe Charles Brun · License #BK3267171
(386) 235-0670
Source:
Exprealty
Added: Aug 3
Changed: Aug 14
Last Checked: Aug 14 at 5:07AM
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 3 Dot Realty, LLC
Investment Insights
Based on property information with market context.
This apartment property contains eight efficiency units, all currently rented, within a 2,112-square-foot building. A commercial-grade swimming pool was completed in 2023 and serves as a shared property feature for occupants.
The asset is offered to cash buyers only. Its compact unit configuration places multiple occupied apartments within one property, while the on-site pool adds a substantial recreational improvement to the existing improvements.
The asset is offered to cash buyers only. Its compact unit configuration places multiple occupied apartments within one property, while the on-site pool adds a substantial recreational improvement to the existing improvements.
Key Highlights
- Eight rented efficiency units in one apartment property
- Fully occupied at the time of listing
- Commercial‑grade swimming pool completed in 2023
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
$16,094
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
2.93%
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%
$321,880
$321.9K
Cap Rate 7%
$229,914
$229.9K
Cap Rate 9%
$178,822
$178.8K
Market Conditions
NOI Build-Up for 2,112 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
$32.7K $15.48/SF
− Vacancy
−$3.4K −$1.63/SF
EGI
$29.3K $13.85/SF
− OpEx
−$13.2K −$6.23/SF
NOI
$16.1K $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%
$321,880
Cap Rate 7%
$229,914
Cap Rate 9%
$178,822
Alternative Uses
Best Use
Apartment 5plus
$229.9K
$201.2K – $268.2K
NOI $16,094 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$622.7K
$544.9K – $726.5K
NOI $43,592 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
434
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
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Fully occupied apartment property with efficiency units and a commercial-grade swimming pool.
Where is this apartment building located?
The property is located at 1202 Ridgewood Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Eight rented efficiency units in one apartment property; Fully occupied at the time of listing; Commercial‑grade swimming pool completed in 2023
