Medical Office Space with
For Sale
$350,000
631 N Ridgewood Avenue, Daytona Beach, FL 32114
Commercial Sale, Daytona Beach, FL
Property Size1,476 SF
Lot Size0.42 Acres
Price / SF$237.13
Days on Market572
Property Features for 631 N Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Fencing
Chain Link
Subdivision
Kingston
Lot features
Cleared
Directions
From International Speedway Go North on Ridgewood building is on the Right after Main Street and before Oakridge
Standard status
Active
APN
5338-01-09-0110
Size
1,476 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
S 83 FT OF LOT 11 & N 5 FT OF LOT 10 EXC HIWY BLK 9 KINGSTON MB 3 PG 95 PER OR 3999 PG 4921 PER OR 4275 PG 0849 PER OR 6575 PG 3600 PER OR 6705 PG 3630 PER OR 7786 PG 3753
Tax Annual Amount
1937
Legal Description
S 83 FT OF LOT 11 & N 5 FT OF LOT 10 EXC HIWY BLK 9 KINGSTON MB 3 PG 95 PER OR 3999 PG 4921 PER OR 4275 PG 0849 PER OR 6575 PG 3600 PER OR 6705 PG 3630 PER OR 7786 PG 3753
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Flooring type
Concrete, Carpet
Building materials
Brick, Concrete
Roof type
Shingle
Listing Agency:
Coldwell Banker Coast Realty · Coldwell Banker Real Estate
(386) 275-1000
Listed By:
Tom S Grasberger · License #3323835
(386) 843-4346
Added: Feb 7, 2025
Changed: Aug 20
Last Checked: Sep 2 at 1:06PM
MLS# 1209146
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,476-square-foot medical office property sits on a 0.42-acre parcel at 631 N Ridgewood Avenue in Daytona Beach. The 1978 building was configured with five offices, a kitchen area, and two bathrooms, offering a practical starting point for medical, dental, or professional office use. Brick and concrete construction, concrete and carpet flooring, central heating, and central air conditioning are in place.
The property includes a parking lot, chain-link fencing, public water, public sewer, and water availability. Its Daytona Beach location and existing commercial building format provide a straightforward setting for an owner-user or office operation.
The property includes a parking lot, chain-link fencing, public water, public sewer, and water availability. Its Daytona Beach location and existing commercial building format provide a straightforward setting for an owner-user or office operation.
Key Highlights
- 1,476 SF medical office building on a 0.42‑acre parcel
- Five existing offices with kitchen area and two bathrooms
- Central heating and central air conditioning
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
$22,118
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
6.32%
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%
$442,360
$442.4K
Cap Rate 7%
$315,971
$316.0K
Cap Rate 9%
$245,756
$245.8K
Market Conditions
NOI Build-Up for 1,476 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
$31.9K $21.60/SF
− Vacancy
−$2.4K −$1.62/SF
EGI
$29.5K $19.98/SF
− OpEx
−$7.4K −$5.00/SF
NOI
$22.1K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$442,360
Cap Rate 7%
$315,971
Cap Rate 9%
$245,756
Alternative Uses
Best Use
Office B
$316.0K
$276.5K – $368.6K
NOI $22,118 @ 7.0% cap · market cap 6.32%
Second Best
Healthcare Medical
$306.7K
$268.4K – $357.9K
NOI $21,472 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$435.2K
$380.8K – $507.8K
NOI $30,465 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
948
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing office layout with a kitchen, two bathrooms, central HVAC, and a dedicated parking lot.
Where is this medical office space located?
The property is located at 631 N Ridgewood Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,476 SF medical office building on a 0.42‑acre parcel; Five existing offices with kitchen area and two bathrooms; Central heating and central air conditioning
