Two-Unit Flex Industrial
New
For Sale
Under Contract
$599,000
2341 GUAVA Drive, Edgewater, FL 32141
Commercial Sale, EDGEWATER, FL
Property Size2,880 SF
Lot Size0.30 Acres
Price / SF$207.99
Days on Market7
Property Features for 2341 GUAVA Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B3
Parking features
Secured
Subdivision
FLORIDA SHORES
Lot features
Central Business District, Fire Hydrant, City Limits, Infrastructure In, Street Lights
Directions
South on US 1 to Indian River Blvd turn right head west to Guava just before the tracks, turn left head South to 2341 Guava on the left.
Standard status
Active Under Contract
APN
840201067110
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
02-18-34 LOTS 6711 THRU 6713 BLK 217 FLORIDA SHORES NO 7 MB 23 PGS 117-118 INC PER OR 4658 PG 3390 PER OR 6697 PGS 4895- 4896 PER OR 6706 PG 1865 PER OR 6941 PG 4718 PER OR 8328 PG
Tax Annual Amount
3671
Legal Description
02-18-34 LOTS 6711 THRU 6713 BLK 217 FLORIDA SHORES NO 7 MB 23 PGS 117-118 INC PER OR 4658 PG 3390 PER OR 6697 PGS 4895- 4896 PER OR 6706 PG 1865 PER OR 6941 PG 4718 PER OR 8328 PG
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1993
Number of units
2
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
COLLADO REAL ESTATE
(386) 427-0002
Listed By:
Bryan Disbrow · License #521363
(386) 690-2558
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 6:06PM
MLS# NS1089030
Copyright © 2026 Stellar MLS. 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.
The 2,880+/- SF concrete-block building is arranged as two 1,440+/- SF units. Each space includes an air-conditioned office and a private bathroom. An interior wall can be removed to join the units; a structural header is already in place. Newly installed AC units serve the building, and concrete flooring runs throughout. The property was built in 1993 and is zoned B3.
Each unit has a separate 200-AMP electrical service with 3-phase power. The site also provides on-site parking within a security fence. Public water and sewer are available.
Each unit has a separate 200-AMP electrical service with 3-phase power. The site also provides on-site parking within a security fence. Public water and sewer are available.
Key Highlights
- 2,880+/- SF building configured as two 1,440+/- SF units
- Two separate 200‑AMP electrical services, each with 3‑phase power
- Units can be joined by removing the interior wall; structural header is in place
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
$32,476
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
5.42%
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%
$649,520
$649.5K
Cap Rate 7%
$463,943
$463.9K
Cap Rate 9%
$360,844
$360.8K
Market Conditions
NOI Build-Up for 2,880 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
$54.6K $18.96/SF
− Vacancy
−$4.6K −$1.61/SF
EGI
$50.0K $17.35/SF
− OpEx
−$17.5K −$6.07/SF
NOI
$32.5K $11.28/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$649,520
Cap Rate 7%
$463,943
Cap Rate 9%
$360,844
Alternative Uses
Best Use
Flex RnD
$463.9K
$406.0K – $541.3K
NOI $32,476 @ 7.0% cap · market cap 5.42%
Second Best
Warehouse
$330.9K
$289.5K – $386.1K
NOI $23,163 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$849.2K
$743.0K – $990.7K
NOI $59,443 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Under-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Two independently serviceable spaces offer office areas, private bathrooms, and the option to create a larger open floor plan.
Where is this flex space located?
The property is located at 2341 GUAVA Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,880+/- SF building configured as two 1,440+/- SF units; Two separate 200‑AMP electrical services, each with 3‑phase power; Units can be joined by removing the interior wall; structural header is in place
