Multifamily Property with
For Sale
$699,990
150 Oak Ridge Avenue, Edgewater, FL 32132
Separate electric meters and central air serve the property.
Property Size3,972 SF
Price / SF$185.18
Days on Market11
Property Features for 150 Oak Ridge Avenue
General Information
Standard status
Active
Size
3,972 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
Multi Family
Net Operating Income
$40,692
Taxes and HOA fees
Annual Taxes
$7,495
Amenities
Central Air, Electric, Separate Meters
Central, Electric, Separate Meters
Refrigerator, Electric Range, Dishwasher
Parking Lot, Unassigned
Courtyard
Building Details
Building Size
3,972 SF
Year Built
1984
Listing Agency:
Newberry Realty & Development Group Inc.
Listed By:
Patricia Temple
(386) 852-8757
Source:
Evrealestate
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 28 at 8:51AM
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 Newberry Realty & Development Group Inc.
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Investment Insights
Based on property information with market context.
Located at 150 Oak Ridge Avenue in Edgewater, this multifamily property was built in 1984. Interior features include central air, electric service, separate meters, and a kitchen equipped with a refrigerator, electric range, and dishwasher.
The exterior includes a courtyard and an unassigned parking lot.
The exterior includes a courtyard and an unassigned parking lot.
Key Highlights
- Built in 1984
- Separate electric meters and central air
- Kitchen includes a refrigerator, electric range, and dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,804
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,080
$576.1K
Cap Rate 7%
$411,486
$411.5K
Cap Rate 9%
$320,044
$320.0K
Market Conditions
NOI Build-Up for 3,780 SF
Gross rent
$58.5K $15.48/SF
− Vacancy
−$6.1K −$1.63/SF
EGI
$52.4K $13.85/SF
− OpEx
−$23.6K −$6.23/SF
NOI
$28.8K $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%
$576,080
Cap Rate 7%
$411,486
Cap Rate 9%
$320,044
Alternative Uses
Best Use
Apartment 5plus
$411.5K
$360.1K – $480.1K
NOI $28,804 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$975.2K – $1.30M
NOI $78,019 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
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Business Placement
Demographics for 32132, FL
8,189
Population
4,266
Households
1.9
Avg Household Size
52
Median Age
19%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
1,170
Density / Sq Mi
$53,860
Median Household Income
$34,816
Median Earnings
$1,316
Median Rent
$234,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate electric meters and central air serve the property.
Where is this multifamily property located?
The property is located at 150 Oak Ridge Avenue Edgewater, FL.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: Built in 1984; Separate electric meters and central air; Kitchen includes a refrigerator, electric range, and dishwasher
