Commercial Land with Existing
New
For Sale
$1,200,000
218 Riverside Drive, Holly Hill, FL 32117
COMMERCIAL - Holly Hill, FL
Property Size9,252 SF
Lot Size0.62 Acres
Price / SF$129.70
Days on Market4
Property Features for 218 Riverside Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Irregular Lot
Directions
East International Speedway Blvd; Left on Beach St. Property on Right across from Marina Grande.
Subdivision
34 - Daytona ISB to Mason, E of 95
Standard status
Active
APN
4244-01-26-0120
Size
9,252 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
37-15-33 LOT 12 EXC W 100 FT & LAND W OF HWY IN FRONT OF SAME BLK 26 MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 5248 PGS 4594-4596 INC PER OR 8215 PG 0138 PER OR 8463 PG 0766
Tax Annual Amount
10957
Legal Description
37-15-33 LOT 12 EXC W 100 FT & LAND W OF HWY IN FRONT OF SAME BLK 26 MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 5248 PGS 4594-4596 INC PER OR 8215 PG 0138 PER OR 8463 PG 0766
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1946
Listing Agency:
Spiletic and Co.
(386) 679-8655
Listed By:
Liz Spiletic
(386) 679-8655
Added: Aug 8
Last Checked: Aug 11 at 7:06PM
MLS# 1229465
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 0.62-acre commercial land parcel includes 9,252 square feet of existing improvements comprising a former cafe or commercial space, warehouse, and residential or multi-living structures. The property is vacant, and the buildings require substantial renovation. Constructed in 1946, the improvements are conveyed in their present condition.
Located at 218 Riverside Drive in Holly Hill, the site is across from Marina Grande on the Halifax, a waterfront residential development with two 26-story condominium towers. The property carries CC-1 Commercial Corridor zoning, with permitted uses, density, building height, setbacks, and development feasibility subject to verification with the City of Holly Hill and other applicable authorities. Public water and public sewer serve the property.
Located at 218 Riverside Drive in Holly Hill, the site is across from Marina Grande on the Halifax, a waterfront residential development with two 26-story condominium towers. The property carries CC-1 Commercial Corridor zoning, with permitted uses, density, building height, setbacks, and development feasibility subject to verification with the City of Holly Hill and other applicable authorities. Public water and public sewer serve the property.
Key Highlights
- 0.62‑acre commercial land parcel
- 9,252 square feet of existing improvements
- CC‑1 Commercial Corridor zoning
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
$87,140
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
7.26%
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%
$1,742,800
$1.7M
Cap Rate 7%
$1,244,857
$1.2M
Cap Rate 9%
$968,222
$968.2K
Market Conditions
NOI Build-Up for 9,252 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
$138.8K $15.00/SF
− Vacancy
−$14.3K −$1.55/SF
EGI
$124.5K $13.46/SF
− OpEx
−$37.3K −$4.04/SF
NOI
$87.1K $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%
$1,742,800
Cap Rate 7%
$1,244,857
Cap Rate 9%
$968,222
Alternative Uses
Best Use
Retail
$1.24M
$1.09M – $1.45M
NOI $87,140 @ 7.0% cap · market cap 7.26%
Second Best
Warehouse
$1.06M
$930.1K – $1.24M
NOI $74,411 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $190,961 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
990
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Vacant Riverside Drive parcel with CC-1 commercial corridor zoning and public water and sewer service.
Where is this commercial land located?
The property is located at 218 Riverside Drive Holly Hill, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 0.62‑acre commercial land parcel; 9,252 square feet of existing improvements; CC‑1 Commercial Corridor zoning
