New Warehouse in Thriving
For Sale
$759,000
2224 HIBISCUS DRIVE, Edgewater, FL 32141
New 4000+ sq ft warehouse in Edgewater, Florida.
Property Size4,000 SF
Lot Size0.31 Acres
Price / SF$189.75
Days on Market191
Property Features for 2224 HIBISCUS DRIVE
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.31 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$736
Amenities
Metal Roof
Pool
Public Pool
Accessible Approach with Ramp
Accessible Doors
Accessible Electrical and Environmental Controls
Accessible Entrance
Accessible Full Bath
Central Business District
Concrete Flooring
Parking Spaces - 1 to 5
Paved
Street Lights
Building Details
Year Built
2026
Listing Agency:
COLLADO REAL ESTATE
(386) 427-0002
Listed By:
BRYAN DISBROW · License #521363
Source:
Corcoran
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 8 at 6:06AM
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 COLLADO REAL ESTATE
Investment Insights
Based on property information with market context.
This new 4000+ sq ft warehouse is under construction in the heart of a thriving business district in Edgewater, Florida, with an estimated completion date of October 15, 2026. The property is zoned B2, offering great potential for various business needs. The building features two 14 x 14 ft bay doors on the east front side, along with two entry doors and two exit doors on the west side. The interior boasts soaring 20+ ft walls with an insulation membrane, accommodating multiple options for manufacturing and storage. Constructed to withstand winds up to 150 mph, the building prioritizes safety. The property includes an in-ground sprinkler system to maintain the landscaping. There will be five public parking spots, with additional room for employee parking. The property provides easy ingress and egress for most vehicle types.
Key Highlights
- Brand new 4000+ sq ft warehouse in Edgewater, Florida's thriving Business District.
- Zoned B2 with great potential for various business needs.
- Two 14 x 14 ft bay doors and multiple entry/exit doors for easy access.
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
$32,171
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
4.24%
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%
$643,420
$643.4K
Cap Rate 7%
$459,586
$459.6K
Cap Rate 9%
$357,456
$357.5K
Market Conditions
NOI Build-Up for 4,000 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
$39.8K $9.96/SF
− Vacancy
−$2.0K −$0.50/SF
EGI
$37.8K $9.46/SF
− OpEx
−$5.7K −$1.42/SF
NOI
$32.2K $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%
$643,420
Cap Rate 7%
$459,586
Cap Rate 9%
$357,456
Alternative Uses
Best Use
Warehouse
$459.6K
$402.1K – $536.2K
NOI $32,171 @ 7.0% cap · market cap 4.24%
Second Best
Industrial
$340.2K
$297.7K – $396.9K
NOI $23,814 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,560 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32141, FL
17,955
Population
9,400
Households
1.9
Avg Household Size
54
Median Age
23%
College-Educated
93%
High-School Grad
23.6 sq mi
ZIP Area
761
Density / Sq Mi
$61,110
Median Household Income
$37,874
Median Earnings
$1,481
Median Rent
$244,000
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - New 4000+ sq ft warehouse in Edgewater, Florida.
Where is this warehouse located?
The property is located at 2224 HIBISCUS DRIVE Edgewater, FL.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: Brand new 4000+ sq ft warehouse in Edgewater, Florida's thriving Business District.; Zoned B2 with great potential for various business needs.; Two 14 x 14 ft bay doors and multiple entry/exit doors for easy access.
