60-Unit Apartment
1208 S Ridgewood Ave, Daytona Beach, FL 32114
For Sale
$8,888,888
Commercial Sale, Daytona Beach, FL
Property Size41,397 SF
Lot Size1.72 Acres
Price / SF$214.72
Days on Market184
Property Features for 1208 S Ridgewood Ave
General Information
Property type
Property subtype
Parking
Parking features
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Building Details
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
The Keyes Company
(305) 595-8166
Listed By:
Madelyn Andrade · License FL #3188906
(786) 624-7335
Added: May 13
Changed: Nov 10
Last Checked: Nov 12 at 8:06AM
MLS# A12011183
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 41,397-square-foot apartment property comprises 60 units in nine buildings on 1.72 acres. The mix includes 40 one-bedroom apartments, 13 studios, and 7 two-bedroom apartments. Approximately 51 units have been renovated and rented; the remaining units are scheduled for completion before closing. Renovated interiors include updated kitchens and appliances, designer finishes, and luxury vinyl flooring. Building materials include block, frame, and stucco, with shingle roofs and guest parking noted.
The property fronts US-1 in Daytona Beach, near Embry-Riddle Aeronautical University and Daytona State College. The source describes zoning that allows potential hotel conversion, offering an additional use possibility alongside the existing apartment configuration.
The property fronts US-1 in Daytona Beach, near Embry-Riddle Aeronautical University and Daytona State College. The source describes zoning that allows potential hotel conversion, offering an additional use possibility alongside the existing apartment configuration.
Key Highlights
- 60 apartments across 9 buildings on 1.72 acres
- Unit mix: 40 one‑bedroom units, 13 studios, and 7 two‑bedroom units
- Approximately 51 units renovated and rented; remaining work scheduled for completion before closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$315,446
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,308,920
$6.3M
Cap Rate 7%
$4,506,371
$4.5M
Cap Rate 9%
$3,504,956
$3.5M
Market Conditions
NOI Build-Up for 41,397 SF
Gross rent
$640.8K $15.48/SF
− Vacancy
−$67.3K −$1.63/SF
EGI
$573.5K $13.85/SF
− OpEx
−$258.1K −$6.23/SF
NOI
$315.4K $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 Rate 5%
$6,308,920
Cap Rate 7%
$4,506,371
Cap Rate 9%
$3,504,956
Alternative Uses
Best Use
Apartment 5plus
$4.51M
$3.94M – $5.26M
NOI $315,446 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.21M
$10.68M – $14.24M
NOI $854,434 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
60
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Daytona Beach, FL
Properties on Market for Apartment buildings in Daytona Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Nine buildings contain a mix of studio, one-bedroom, and two-bedroom residences on a 1.72-acre site.
Where is this apartment building located?
The property is located at 1208 S Ridgewood Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $8,888,888.
What are key features of this property?
This property features: 60 apartments across 9 buildings on 1.72 acres; Unit mix: 40 one‑bedroom units, 13 studios, and 7 two‑bedroom units; Approximately 51 units renovated and rented; remaining work scheduled for completion before closing
