New Warehouse in Edgewater,
For Sale
$759,000
2224 HIBISCUS DRIVE, Edgewater, FL 32141
Pre-construction 4380 sq ft warehouse in thriving business district.
Property Size4,380 SF
Price / SF$173.29
Days on Market202
Property Features for 2224 HIBISCUS DRIVE
General Information
Standard status
Active
Size
4,380 SF
Property subtype
Commercial
Zoning
B2
Taxes and HOA fees
Annual Taxes
$736
Building Details
Building Size
4,380 SF
Year Built
2026
Stories
1
Units
1
Listing Agency:
COLLADO REAL ESTATE
(386) 690-2558
Listed By:
Bryan Disbrow · License #521363
(386) 690-2558
Source:
Mbifloridarealty
Added: Feb 3
Changed: Aug 23
Last Checked: Aug 23 at 10:59AM
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 pre-construction warehouse, with an estimated completion date of October 15, 2026, is located in the heart of a thriving business district in Edgewater, Florida. The new 4380 sq ft warehouse is situated on a spacious lot zoned B2, offering great potential to fulfill 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 insulation membrane, providing multiple options for manufacturing and storage. Constructed to withstand winds up to 150 mph, the property prioritizes safety. There will be five public parking spots and ample room for employee parking. An in-ground sprinkler system will maintain the landscaping. The property offers easy ingress and egress for most vehicle types. The location has a Walk Score of 42, indicating car-dependence, and a Bike Score of 61, suggesting it is bikeable.
Key Highlights
- New 4380 sq ft warehouse in a thriving B2‑zoned commercial district.
- Estimated completion date of 10.15.2026.
- 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
$35,227
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
4.64%
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%
$704,540
$704.5K
Cap Rate 7%
$503,243
$503.2K
Cap Rate 9%
$391,411
$391.4K
Market Conditions
NOI Build-Up for 4,380 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
$43.6K $9.96/SF
− Vacancy
−$2.2K −$0.50/SF
EGI
$41.4K $9.46/SF
− OpEx
−$6.2K −$1.42/SF
NOI
$35.2K $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%
$704,540
Cap Rate 7%
$503,243
Cap Rate 9%
$391,411
Alternative Uses
Best Use
Warehouse
$503.2K
$440.3K – $587.1K
NOI $35,227 @ 7.0% cap · market cap 4.64%
Second Best
Industrial
$372.5K
$326.0K – $434.6K
NOI $26,076 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,403 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
389
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 - Pre-construction 4380 sq ft warehouse in thriving business district.
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: New 4380 sq ft warehouse in a thriving B2‑zoned commercial district.; Estimated completion date of 10.15.2026.; Two 14 x 14 ft bay doors and multiple entry/exit doors for easy access.
