Fully Rented Strip Mall with Retention
For Sale
$648,000
2355 S Ridgewood Avenue, South Daytona, FL 32119
COMMERCIAL - South Daytona, FL
Property Size3,900 SF
Lot Size0.33 Acres
Price / SF$166.15
Days on Market573
Property Features for 2355 S Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3
Parking features
Parking Lot, Driveway
Subdivision
West Shore Park
Directions
From International Speedway Blvd. south on US 1 Property is on East side past Ridge Ave
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
Legal 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
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
Carpet, Tile
Building materials
Block, Brick, Stucco
Roof type
Shingle
Listing Agency:
Beachside Realty of Vol Cty
(386) 427-1212
Listed By:
Colleen Pearson
(407) 255-5862
Added: Jan 20, 2025
Changed: Aug 4
Last Checked: Aug 16 at 1:06AM
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.
Investment Insights
Based on property information with market context.
Clock Tower Plaza (2355 S Ridgewood Avenue, South Daytona, FL 32119) is a fully rented strip mall featuring month-to-month tenants. Public remarks indicate one unit includes a kitchen and fire alarm system, with tenants billed additionally for water usage. The property includes a retention pond on the south side of the building. Construction materials include block, brick, and stucco, with central heating and multi-unit cooling. Flooring includes tile and carpet, and the roof is shingle. Public water and public sewer are provided.
The site sits on a 0.33-acre lot and is built in 1982. Parking is available via driveway and parking lot.
An adjacent property at 2335 S Ridgewood Avenue is being offered with this strip mall.
The site sits on a 0.33-acre lot and is built in 1982. Parking is available via driveway and parking lot.
An adjacent property at 2335 S Ridgewood Avenue is being offered with this strip mall.
Key Highlights
- Fully rented strip mall with month‑to‑month tenants
- Retention pond on the south side of the building
- 0.33‑acre lot with 3,900 SF building
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
$36,732
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
5.67%
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%
$734,640
$734.6K
Cap Rate 7%
$524,743
$524.7K
Cap Rate 9%
$408,133
$408.1K
Market Conditions
NOI Build-Up for 3,900 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
$58.5K $15.00/SF
− Vacancy
−$6.0K −$1.55/SF
EGI
$52.5K $13.46/SF
− OpEx
−$15.7K −$4.04/SF
NOI
$36.7K $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%
$734,640
Cap Rate 7%
$524,743
Cap Rate 9%
$408,133
Alternative Uses
Best Use
Retail
$524.7K
$459.2K – $612.2K
NOI $36,732 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,496 @ 7.0% cap · market cap 12.42%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Clock Tower Plaza is fully rented, with month-to-month tenants and a retention pond on the south side of the building.
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 strip mall with month‑to‑month tenants; Retention pond on the south side of the building; 0.33‑acre lot with 3,900 SF building
