Flex Property with Warehouse
For Sale
$1,795,000
1524 &1522 Ridgewood Avenue, Holly Hill, FL 32117
Commercial Sale, Holly Hill, FL
Property Size7,175 SF
Price / SF$250.17
Days on Market53
Property Features for 1524 &1522 Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Directions
From Flomich, South 200' +/- on Ridgewood / US1 to property on Rt.
Subdivision
41 - LPGA to Granada, E of Nova
Standard status
Active
APN
424220020290
Size
7,175 SF
Taxes and HOA fees
Tax Description
LOTS 29 TO 32 INC FLORIDAS RIVIERA IN BLKS 2 & 3 RIO VISTA SEC C MB 19 PG 73 PER OR 3747 PG 1455 PER OR 8544 PG 1424 & LOTS 33 & 34 FLORIDAS RIVIERA IN BLKS 2 & 3 RIO VISTA SEC C MB 10 PG 173 MB 19 PG 73 PER OR 3850 PG 1949 PER OR 8544 PG 1424
Legal Description
LOTS 29 TO 32 INC FLORIDAS RIVIERA IN BLKS 2 & 3 RIO VISTA SEC C MB 19 PG 73 PER OR 3747 PG 1455 PER OR 8544 PG 1424 & LOTS 33 & 34 FLORIDAS RIVIERA IN BLKS 2 & 3 RIO VISTA SEC C MB 10 PG 173 MB 19 PG 73 PER OR 3850 PG 1949 PER OR 8544 PG 1424
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Building materials
Concrete
Listing Agency:
Coldwell Banker Commercial Benchmark
(386) 672-8530
Listed By:
David Galt · License #3243843
(386) 882-3230
Added: Jul 17
Changed: Aug 20
Last Checked: Sep 7 at 10:06AM
MLS# 1228826
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 flex property includes two parcels totaling over 1 acre. Building A provides 7,100+ square feet, including more than 5,000 square feet of renovated office, retail, and showroom space. The balance includes a warehouse and shop area exceeding 1,900 square feet, with 16-foot height and four roll-up doors. Building B is a 1955-built office structure measuring just over 1,000 square feet. Both buildings are concrete construction with central heating and central air, and the property includes a parking lot.
Located at 1524 & 1522 Ridgewood Avenue in Holly Hill, the property fronts US-1 with approximately 300 feet of frontage and reported daily traffic exceeding 25,000 cars. The site is zoned CC-1 and includes potential for a laydown yard and outside storage.
Located at 1524 & 1522 Ridgewood Avenue in Holly Hill, the property fronts US-1 with approximately 300 feet of frontage and reported daily traffic exceeding 25,000 cars. The site is zoned CC-1 and includes potential for a laydown yard and outside storage.
Key Highlights
- Two parcels totaling over 1 acre with approximately 300' of US‑1 frontage
- Building A measures 7,100+SF with more than 5,000SF of renovated office, retail, and showroom area
- Warehouse/shop area exceeds 1,900SF and features 16 ft height
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
$107,517
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
5.99%
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%
$2,150,340
$2.2M
Cap Rate 7%
$1,535,957
$1.5M
Cap Rate 9%
$1,194,633
$1.2M
Market Conditions
NOI Build-Up for 7,175 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
$155.0K $21.60/SF
− Vacancy
−$11.6K −$1.62/SF
EGI
$143.4K $19.98/SF
− OpEx
−$35.8K −$5.00/SF
NOI
$107.5K $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%
$2,150,340
Cap Rate 7%
$1,535,957
Cap Rate 9%
$1,194,633
Alternative Uses
Best Use
Office B
$1.54M
$1.34M – $1.79M
NOI $107,517 @ 7.0% cap · market cap 5.99%
Second Best
Flex RnD
$1.16M
$1.01M – $1.35M
NOI $80,909 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,092 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Under-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Moore Fine Foods — 1299 State Ave, Holly Hill, FL 32117
Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property combines renovated customer-facing areas with warehouse and shop space, roll-up access, and outdoor storage potential.
Where is this flex space located?
The property is located at 1524 &1522 Ridgewood Avenue Holly Hill, FL.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Two parcels totaling over 1 acre with approximately 300' of US‑1 frontage; Building A measures 7,100+SF with more than 5,000SF of renovated office, retail, and showroom area; Warehouse/shop area exceeds 1,900SF and features 16 ft height
