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    Multi-Use Property in Holly Hill Title is generated by Realmo AI

    218 Riverside Drive, Holly Hill, FL 32117

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    Claim this Listing
    For Sale
    $1,499,999

    COMMERCIAL - Holly Hill, FL

    Property size:
    9,252 SF
    Lot size:
    0.62 Acres
    Price / SF:
    $162/SF
    Added:
    May 16, 2026
    Days on Market:
    8
    Last Refresh:
    May 23 at 10:06 am

    Property Features for 218 Riverside Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Secured, Covered, Garage, Carport
    Security features
    Security
    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

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1946
    Building materials
    Block, Brick, Concrete, Stucco
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    Liz Spiletic
    Liz Spiletic

    Listing agent Liz Spiletic

    Listing office America's Elite Realty LLC 235 Riverside Drive Suite 1, Holly Hill, FL

    Listing date May 16, 2026

    MLS# 1226508

    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.

    HighLights

    • Exceptional multi‑use property with flexible zoning (CC1).
    • Prime location on highly visible Riverside Drive.
    • Close proximity to the Halifax River, downtown Daytona Beach, beaches, marinas, restaurants, shopping, and major transportation routes.
    • Strong traffic exposure and convenient accessibility.
    • Excellent opportunity for renovation, updating, or redevelopment of a vacant property.
    • Solid construction with block, brick, concrete, and stucco materials.

    Overview

    This multi-use property is located along Riverside Drive in Holly Hill. Zoned for multiple potential uses, the property offers flexibility for commercial, residential, live/work, office, retail, or income-producing possibilities. It is located moments from the Halifax River, downtown Daytona Beach, and the area's redevelopment corridor. The property benefits from traffic exposure, accessibility, and growth throughout the surrounding area. Potential uses include professional office space, boutique retail, short-term rental opportunities, mixed-use redevelopment, or an owner-occupied business location. The property's location places it close to beaches, marinas, restaurants, shopping, and major transportation routes. The property is currently vacant and presents an opportunity for renovation, updating, or redevelopment. The lot size is 0.62 acres and the property size is 9252 square feet. The zoning is CC1.

    Financial Insights

    Value Estimation Calculated for Mixed Use

    Conservative
    $1.27M
    NOI $114,285 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.63M
    NOI $114,285 @ 7.00% cap · market / base-case scenario
    Aggressive
    $2.29M
    NOI $114,285 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Mixed Use

    Component $ $/SF
    Gross rent $199.8k $21.60
    − Vacancy −$17.0k −$1.84
    EGI $182.9k $19.76
    − OpEx −$68.6k −$7.41
    NOI $114.3k $12.35
    9,252 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 37.50%

    Alternative Use Scenarios

    Best Use
    Mixed Use
    $1.63M
    $1.43M – $1.90M (±1% cap)
    NOI $114,285 @ 7.0% cap · market cap 7.62%
    Second Best
    Retail
    $1.24M
    $1.09M – $1.45M (±1% cap)
    NOI $87,140 @ 7.0% cap · market cap 5.81%
    Theoretical Best
    Office A
    $2.73M
    $2.39M – $3.18M (±1% cap)
    NOI $190,961 @ 7.0% cap · market cap 12.73%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Holly Hill
    County
    Volusia
    State
    Florida
    Longitude
    -81.0584
    Latitude
    29.2334

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    FAQs

    What type of property is this?
    Mixed-use property - Versatile property in growing Holly Hill market with redevelopment potential.
    Where is this mixed-use property located?
    The property is located at 218 Riverside Drive Holly Hill, FL.
    What is the asking price?
    The asking price for this property is $1,499,999.
    What are key features of this property?
    This property features: Exceptional multi‑use property with flexible zoning (CC1).; Prime location on highly visible Riverside Drive.; Close proximity to the Halifax River, downtown Daytona Beach, beaches, marinas, restaurants, shopping, and major transportation routes.
    (386) 679-8655
    We can help!
    Listing Contact
    Liz Spiletic
    Liz Spiletic
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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