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    Clock Tower Plaza For Sale Title is generated by Realmo AI

    2355 S Ridgewood Avenue, South Daytona, FL 32119

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    For Sale
    $648,000

    COMMERCIAL - South Daytona, FL

    Type:Retail
    Property size:
    3,900 SF
    Lot size:
    0.33 Acres
    Price / SF:
    $166/SF
    Added:
    Jan 20, 2025
    Days on Market:
    479
    Last Refresh:
    May 14 at 7:06 pm

    Property Features for 2355 S Ridgewood Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    4
    Rooms
    Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2
    Parking features
    Driveway, Parking Lot
    Standard status
    Active
    APN
    5344-11-00-0310
    Size
    3,900 SF
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT 31 EXC PART IN ST RD 5 WEST SHORE PARK SEC 2 MB 9 PG287 PER OR 5204 PG 2595 PER OR 7300 PG 0762
    Tax Annual Amount
    4383

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Multi Units
    Water source
    Public

    Building Details

    Year built
    1982
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Tile, Carpet
    Building materials
    Block, Brick, Stucco
    Roof type
    Shingle

    We can help!

    Listing Contact
    Colleen Pearson
    Colleen Pearson

    Listing agent Colleen Pearson

    Listing office Beachside Realty of Vol Cty 315 Flagler Ave, New Smyrna Beach, FL

    Listing date Jan 20, 2025

    MLS# 1208266

    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

    • Fully rented property providing immediate income.
    • Prime location across from Sunshine Plaza.
    • Clock Tower Plaza - well‑known landmark.
    • One unit equipped with a kitchen and fire alarm system.
    • Base rent of $2378.00 with tenants paying extra for water.
    • Adjacent property at 2335 S Ridgewood Avenue also available for purchase.

    Overview

    The Clock Tower Plaza, a well-known landmark, is available for purchase. Located across from the Sunshine Plaza, the property is fully rented. One unit includes a kitchen and fire alarm system. Tenants are currently on month-to-month leases. The base rent is $2378.00, with tenants paying extra for water. A retention pond is situated on the south side of the building. The adjacent property at 2335 S Ridgewood Avenue is also offered for sale. The property is situated in South Daytona, Florida, in Volusia County. The lot size is 0.33 acres and the property size is 3,900 square feet.
    Property Profile Insight Report 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 Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -81.0285
    Latitude
    29.1477

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    FAQs

    What type of property is this?
    Strip mall - Fully rented Clock Tower Plaza in South Daytona, Florida.
    Where is this strip mall located?
    The property is located at 2355 S Ridgewood Avenue South Daytona, FL.
    What is the asking price?
    The asking price for this property is $648,000.
    What are key features of this property?
    This property features: Fully rented property providing immediate income.; Prime location across from Sunshine Plaza.; Clock Tower Plaza - well‑known landmark.
    (407) 255-5862
    We can help!
    Listing Contact
    Colleen Pearson
    Colleen Pearson
    Learn More
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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.

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