Renovated Mixed-Use Hospitality
New
For Sale
$2,300,000
208/216 Ridgewood Avenue, Holly Hill, FL 32117
Commercial Sale, Holly Hill, FL
Property Size14,737 SF
Lot Size0.49 Acres
Price / SF$156.07
Days on Market5
Property Features for 208/216 Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Directions
Exit interstate 95 at International Speedway blvd and head east North on Ridgewood ave property on left
Subdivision
35 - Mason to LPGA E of 95
Standard status
Active
APN
4244-01-28-0050
Size
14,737 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
37-15-33 S 101 FT OF N 811 FT OF E 234 FT EXC RD BLK 28 MASON & CARSWELLS HOLLY HILL DB O PG 312 MB 14 PG 21 OF MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 5128 PGS 1143-1144 PER OR 5966 PG 1410
Tax Annual Amount
5188
Legal Description
37-15-33 S 101 FT OF N 811 FT OF E 234 FT EXC RD BLK 28 MASON & CARSWELLS HOLLY HILL DB O PG 312 MB 14 PG 21 OF MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 5128 PGS 1143-1144 PER OR 5966 PG 1410
Building Details
Year built
1949
Listing Agency:
Realty Pros Assured
(386) 767-7653
Listed By:
Michael Williams · License #344170
(386) 689-2462
Added: Aug 28
Changed: Aug 31
Last Checked: Sep 1 at 7:06AM
MLS# 1230276
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 mixed-use property spans two separate parcels at 208/216 Ridgewood Avenue and contains 14,737 square feet on 0.49 acres. The hospitality component includes two 2-bedroom/2-bath units, three additional 2-bedroom/2-bath units, fourteen 1-bedroom/1-bath units, and detached cabin-style accommodations. Three separate homes add a residential component: a 2-bedroom/2-bath home with a 2-car garage, a fully updated 5-bedroom/3-bath home, and a renovated 7-bedroom/2-bath home.
Recent work across the renovated improvements includes new roofs, HVAC systems, flooring, interior and exterior paint, and updated finishes. The property provides 23 parking spaces, and the parking lot has been recently recoated. Additional land is present, while future parking expansion or other growth remains subject to applicable approvals. Fencing along the sides and rear provides defined property boundaries.
Recent work across the renovated improvements includes new roofs, HVAC systems, flooring, interior and exterior paint, and updated finishes. The property provides 23 parking spaces, and the parking lot has been recently recoated. Additional land is present, while future parking expansion or other growth remains subject to applicable approvals. Fencing along the sides and rear provides defined property boundaries.
Key Highlights
- Two separate parcels at 208/216 Ridgewood Avenue
- 14,737 square feet on 0.49 acres
- Hospitality component includes fourteen 1‑bedroom/1‑bath units and five 2‑bedroom/2‑bath units
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
$182,039
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
7.91%
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%
$3,640,780
$3.6M
Cap Rate 7%
$2,600,557
$2.6M
Cap Rate 9%
$2,022,656
$2.0M
Market Conditions
NOI Build-Up for 14,737 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
$318.3K $21.60/SF
− Vacancy
−$27.1K −$1.84/SF
EGI
$291.3K $19.76/SF
− OpEx
−$109.2K −$7.41/SF
NOI
$182.0K $12.35/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$3,640,780
Cap Rate 7%
$2,600,557
Cap Rate 9%
$2,022,656
Alternative Uses
Best Use
Mixed Use
$2.60M
$2.28M – $3.03M
NOI $182,039 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $112,296 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$4.35M
$3.80M – $5.07M
NOI $304,172 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two parcels combine lodging units, three homes, parking, and recent building improvements.
Where is this mixed-use property located?
The property is located at 208/216 Ridgewood Avenue Holly Hill, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two separate parcels at 208/216 Ridgewood Avenue; 14,737 square feet on 0.49 acres; Hospitality component includes fourteen 1‑bedroom/1‑bath units and five 2‑bedroom/2‑bath units
