Leased Strip Mall with
For Sale
$699,000
2335 S Ridgewood Avenue, South Daytona, FL 32119
Commercial Sale, South Daytona, FL
Property Size4,110 SF
Lot Size0.33 Acres
Price / SF$170.07
Days on Market626
Property Features for 2335 S Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bathroom 5, Bathroom 6, Bathroom 4, Bathroom 1, Bathroom 3
Parking features
Parking Lot, Driveway
Subdivision
West Shore Park
Directions
South on US 1 (Ridgewood ave) from International Speedway Blvd On east side just past Ridge Road intersection
Standard status
Active
APN
5344-12-00-0340
Size
4,110 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LOT 34 EXC PART IN ST RD 5 WEST SHORE PARK SEC 3 PER OR 5204 PG 2595 PER OR 7300 PG 0762
Tax Annual Amount
4895
Legal Description
LOT 34 EXC PART IN ST RD 5 WEST SHORE PARK SEC 3 PER OR 5204 PG 2595 PER OR 7300 PG 0762
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
1
Flooring type
Tile
Building materials
Brick Veneer
Roof type
Shingle
Listing Agency:
Beachside Realty of Vol Cty
(386) 427-1212
Listed By:
Colleen Pearson
(407) 255-5862
Added: Dec 4, 2024
Changed: Aug 20
Last Checked: Aug 22 at 9:06PM
MLS# 1206508
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 strip mall is a tenant-occupied retail property built in 1986. The building features brick veneer construction, tile flooring, central air, a shingle roof, and six bathrooms, with one bathroom currently blocked off. On-site parking is provided through a parking lot and driveway, while a retention pond is located behind the building.
The property is situated at 2335 S Ridgewood Avenue in South Daytona, Florida. Public water and public sewer serve the site, which encompasses 0.33 acres. The center is fully rented, with long-term tenancy in place.
The property is situated at 2335 S Ridgewood Avenue in South Daytona, Florida. Public water and public sewer serve the site, which encompasses 0.33 acres. The center is fully rented, with long-term tenancy in place.
Key Highlights
- Fully rented strip mall with long‑term tenants
- 0.33‑acre site in South Daytona, FL
- Built in 1986 with brick veneer construction
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
$38,710
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
5.54%
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%
$774,200
$774.2K
Cap Rate 7%
$553,000
$553.0K
Cap Rate 9%
$430,111
$430.1K
Market Conditions
NOI Build-Up for 4,110 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
$61.7K $15.00/SF
− Vacancy
−$6.3K −$1.55/SF
EGI
$55.3K $13.46/SF
− OpEx
−$16.6K −$4.04/SF
NOI
$38.7K $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%
$774,200
Cap Rate 7%
$553,000
Cap Rate 9%
$430,111
Alternative Uses
Best Use
Retail
$553.0K
$483.9K – $645.2K
NOI $38,710 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,830 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
90k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 32%
Shops & Services 30%
Dining 30%
Home Improvements & Furnishings 8%
Publix
Groceries
28,211 visits/mo
0.2 miles
SONIC Drive In
Dining
10,431 visits/mo
0.4 miles
Taco Bell
Dining
9,250 visits/mo
0.1 miles
Sunoco
Shops & Services
8,582 visits/mo
0.4 miles
Dollar Tree
Shops & Services
7,802 visits/mo
0.2 miles
Demographics for 32119, FL
22,498
Population
12,629
Households
1.8
Avg Household Size
50
Median Age
27%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,884
Density / Sq Mi
$53,795
Median Household Income
$37,675
Median Earnings
$1,371
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Tenant-occupied retail center with central air, paved parking, and public water and sewer service.
Where is this strip mall located?
The property is located at 2335 S Ridgewood Avenue South Daytona, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Fully rented strip mall with long‑term tenants; 0.33‑acre site in South Daytona, FL; Built in 1986 with brick veneer construction
