Retail Auto Repair and
For Sale
Contact for pricing
1701 S Ridgewood Ave, Edgewater, FL 32132
Mixed-use automotive repair and residential apartments combine service retail with living space on a high-traffic corridor.
Property Size9,835 SF
Lot Size39,285.00 Acres
Price / SF$254.19
Days on Market53
Property Features for 1701 S Ridgewood Ave
General Information
Standard status
Active
Size
9,835 SF
Lot size
39,285.00 Acres
Property subtype
Retail, Mixed Use
Occupancy
100%
Lease Type
NNN
Net Operating Income
$156,050
Additional Details
Business Included
Yes
Service Bays
6
Building Details
Year Built
1969
Year Renovated
2007
Buildings
1
Tenancy
Single
Listing Agency:
AiCRE Partners
(888) 737-2264
Listed By:
Brian Sanchez · License #01768654
Source:
Crexi
Added: Jul 2
Changed: Aug 21
Last Checked: Aug 22 at 5:22PM
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 AiCRE Partners
Investment Insights
Based on property information with market context.
This mixed-use property combines a retail automotive repair facility with residential apartments. The commercial component is a fully equipped 6-bay retail auto repair building. It is positioned on a sizable lot and is designed to support on-site automotive service operations alongside the residential use.
Located at 1701 S Ridgewood Ave in Edgewater, Florida, the property sits along a high-traffic corridor. The Boulevard Tire Center is described as an established location associated with Bridgestone/Michelin and Valvoline brands, with the surrounding area tied to regional destinations near the Indian River and Mosquito Lagoon Aquatic Reserve and a short drive to beaches and the ocean.
For buyers and tenants, the structure offers two distinct on-property functions: automotive repair service in a dedicated multi-bay retail format and residential apartments for an owner looking for diversified day-to-day use. The 6-bay configuration is particularly suited for businesses that need multiple bays for workflow, while the mixed-use setup may appeal to operators who prefer to combine service-oriented space with residential income within the same property footprint.
Located at 1701 S Ridgewood Ave in Edgewater, Florida, the property sits along a high-traffic corridor. The Boulevard Tire Center is described as an established location associated with Bridgestone/Michelin and Valvoline brands, with the surrounding area tied to regional destinations near the Indian River and Mosquito Lagoon Aquatic Reserve and a short drive to beaches and the ocean.
For buyers and tenants, the structure offers two distinct on-property functions: automotive repair service in a dedicated multi-bay retail format and residential apartments for an owner looking for diversified day-to-day use. The 6-bay configuration is particularly suited for businesses that need multiple bays for workflow, while the mixed-use setup may appeal to operators who prefer to combine service-oriented space with residential income within the same property footprint.
Key Highlights
- 6‑bay retail automotive repair building with 9,835 SF
- 39,285 SF lot with mixed‑use retail and residential apartments
- Year built: 1969
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
$92,631
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
3.71%
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%
$1,852,620
$1.9M
Cap Rate 7%
$1,323,300
$1.3M
Cap Rate 9%
$1,029,233
$1.0M
Market Conditions
NOI Build-Up for 9,835 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
$147.5K $15.00/SF
− Vacancy
−$15.2K −$1.55/SF
EGI
$132.3K $13.46/SF
− OpEx
−$39.7K −$4.04/SF
NOI
$92.6K $9.42/SF
Area
Volusia County, FL
Vacancy
10.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,852,620
Cap Rate 7%
$1,323,300
Cap Rate 9%
$1,029,233
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,631 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$1.07M
$936.8K – $1.25M
NOI $74,943 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $202,994 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Clinton's Auto Body & Services — 2010 Hibiscus Dr, Edgewater, FL 32141
- Klamo Garage — 2012 Guava Dr, Edgewater, FL 32141
- Volvo Restoration and Auto Repair — 1952 guava dr, edgewater, fl 32132
- Harold's Auto Repair Service — 1952 Guava Dr, Edgewater, FL 32141
- Raw Wrap Industries — 1952 Guava Dr STE 6, Edgewater, FL 32141
Frequently Asked Questions
What type of property is this?
Auto shop - Mixed-use automotive repair and residential apartments combine service retail with living space on a high-traffic corridor.
Where is this auto shop located?
The property is located at 1701 S Ridgewood Ave Edgewater, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 6‑bay retail automotive repair building with 9,835 SF; 39,285 SF lot with mixed‑use retail and residential apartments; Year built: 1969
