BR-1 Flex Space
For Sale
Contact for pricing
169 Madison Avenue, Daytona Beach, FL 32114
BR-1 zoned flex space building sold as-is and vacant, with rear yard space suited for parking or secure storage.
Property Size2,976 SF
Price / SF$100.47
Days on Market22
Property Features for 169 Madison Avenue
General Information
Standard status
Active
Size
2,976 SF
Property subtype
Industrial, Office, Retail, Special Purpose
Zoning
BR-1
Building Details
Year Built
1949
Buildings
1
Building Size
2,976 SF
Listing Agency:
The Selby Group Inc
(321) 299-4168
Listed By:
Debra Wingo
Source:
Crexi
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 10 at 4:01PM
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 The Selby Group Inc
Investment Insights
Based on property information with market context.
This BR-1 zoned flex space building offers approximately 2,976 square feet and was built in 1949. The property has operated over time as a retail storefront, office space, and manufacturing/production warehouse, supporting a flexible commercial layout for different business concepts. The seller is removing all existing equipment, and the building will be conveyed vacant at closing.
The property is being sold as-is, with an opportunity for an investor, owner-user, or developer to redesign and customize the space to fit specific needs. In addition to the main building area, the rear yard provides potential for expanded parking, outdoor storage, or a secure equipment yard.
Zoning BR-1 permits a variety of commercial uses, including retail, health care, place of worship, and business office, among others, offering multiple paths for future occupancy.
The property is being sold as-is, with an opportunity for an investor, owner-user, or developer to redesign and customize the space to fit specific needs. In addition to the main building area, the rear yard provides potential for expanded parking, outdoor storage, or a secure equipment yard.
Zoning BR-1 permits a variety of commercial uses, including retail, health care, place of worship, and business office, among others, offering multiple paths for future occupancy.
Key Highlights
- Approximately 2,976 square feet flex space building built in 1949
- Zoned BR‑1 permitting a variety of commercial uses including retail and business office
- Sold as‑is and conveyed vacant at closing
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
$23,935
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
8.01%
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%
$478,700
$478.7K
Cap Rate 7%
$341,929
$341.9K
Cap Rate 9%
$265,944
$265.9K
Market Conditions
NOI Build-Up for 2,976 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
$29.6K $9.96/SF
− Vacancy
−$1.5K −$0.50/SF
EGI
$28.2K $9.46/SF
− OpEx
−$4.2K −$1.42/SF
NOI
$23.9K $8.04/SF
Area
Volusia County, FL
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$478,700
Cap Rate 7%
$341,929
Cap Rate 9%
$265,944
Alternative Uses
Best Use
Flex RnD
$479.4K
$419.5K – $559.3K
NOI $33,559 @ 7.0% cap · market cap 11.22%
Second Best
Retail
$400.4K
$350.4K – $467.2K
NOI $28,029 @ 7.0% cap · market cap 9.37%
Theoretical Best
Office A
$877.5K
$767.8K – $1.02M
NOI $61,425 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Under-served
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - BR-1 zoned flex space building sold as-is and vacant, with rear yard space suited for parking or secure storage.
Where is this flex space located?
The property is located at 169 Madison Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approximately 2,976 square feet flex space building built in 1949; Zoned BR‑1 permitting a variety of commercial uses including retail and business office; Sold as‑is and conveyed vacant at closing
