Freestanding Building on Signalized
For Sale
Contact for pricing
1630 Ridgewood Ave, Holly Hill, FL
4,513 SF building on 1.17 acres with six drive-thru lanes.
Property Size4,513 SF
Lot Size1.16 Acres
Price / SF$243.74
Days on Market512
Property Features for 1630 Ridgewood Ave
General Information
Standard status
Active
Size
4,513 SF
Lot size
1.16 Acres
Property subtype
RETAIL
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors
(386) 310-7900
Listed By:
John W. Trost, CCIM · License ##BK-0160420
(386) 295-5723
Source:
Moodyscre
Added: Apr 15, 2025
Changed: Aug 9
Last Checked: Sep 7 at 6:32AM
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 SVN | Alliance Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This 4,513 square foot freestanding building, formerly a bank, is available for sale. Situated on 1.17 acres, the property benefits from a signalized corner location and frontage on three streets: Ridgewood Avenue, Flomich Street, and Espanola Avenue. It features six drive-thru lanes and 27 parking spaces. The building has been well-maintained, with the roof replaced in 2011, two 4-ton HVAC units replaced in 2020, and flooring replaced in 2023. The property is ready for occupancy. Please note that there is a restriction against its use as a financial institution for 2 years. All communication should be conducted exclusively through the listing broker, and the tenant is not to be contacted or disturbed.
Key Highlights
- Six drive‑thru lanes provide exceptional service potential.
- Freestanding 4,513 SF building on 1.17+\/- Acres.
- Located on a signalized corner with frontage on three streets.
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
$67,627
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
6.15%
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%
$1,352,540
$1.4M
Cap Rate 7%
$966,100
$966.1K
Cap Rate 9%
$751,411
$751.4K
Market Conditions
NOI Build-Up for 4,513 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
$97.5K $21.60/SF
− Vacancy
−$7.3K −$1.62/SF
EGI
$90.2K $19.98/SF
− OpEx
−$22.5K −$5.00/SF
NOI
$67.6K $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%
$1,352,540
Cap Rate 7%
$966,100
Cap Rate 9%
$751,411
Alternative Uses
Best Use
Office B
$966.1K
$845.3K – $1.13M
NOI $67,627 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,148 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 4,513 SF building on 1.17 acres with six drive-thru lanes.
Where is this office building located?
The property is located at 1630 Ridgewood Ave Holly Hill, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Six drive‑thru lanes provide exceptional service potential.; Freestanding 4,513 SF building on 1.17+\/- Acres.; Located on a signalized corner with frontage on three streets.
