Warehouse Property With
For Sale
$2,150,000
2724 Hibiscus Drive, Edgewater, FL 32141
COMMERCIAL - Edgewater, FL
Property Size10,650 SF
Lot Size0.82 Acres
Price / SF$201.88
Days on Market46
Property Features for 2724 Hibiscus Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4
Parking features
Parking Lot, Secured, Gated
Security features
Security
Fencing
Fenced, Chain Link
Subdivision
Florida Shores
Lot features
Few Trees, Uplands
Directions
I-95 to Edgewater Exit 244. South on Indian River Blvd. to Hibiscus Dr. South on Hibiscus Dr. to address.
Standard status
Active
APN
8402-01-06-7890
Size
10,650 SF
Lot size
0.82 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2-18-34 LOTS 6789 THRU 6792 BLK 220 FLORIDA SHORES REVISED PLAT PART OF FLORIDA SHORES UNIT NO 7 MB 23 PG 131 PER OR 7549 PG 4266 PER OR 8639 PG 2117
Tax Annual Amount
7452
Legal Description
2-18-34 LOTS 6789 THRU 6792 BLK 220 FLORIDA SHORES REVISED PLAT PART OF FLORIDA SHORES UNIT NO 7 MB 23 PG 131 PER OR 7549 PG 4266 PER OR 8639 PG 2117
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Amenities
electric keypad entry gate
Building Details
Year built
2026
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Concrete, Metal Siding
Roof type
Shingle, Metal
Listing Agency:
The Barnett Group Inc.
(386) 426-7234
Listed By:
Tracey Barlow · License #3438904
(386) 566-3715
Added: Jun 28
Changed: Aug 4
Last Checked: Aug 12 at 11:06PM
MLS# 1228041
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 warehouse property totals 10,650 square feet across an existing building and a second facility under construction. The current 3,400-square-foot structure is divided into multiple units ranging from approximately 510 to 720 square feet and includes a 220-square-foot office. A new 7,250-square-foot precast concrete warehouse expands the site’s functional capacity, with 20-foot clear heights, five oversized 14-foot roll-up doors, and plumbing stub-outs for future restrooms. The layout can accommodate separate units or a larger owner-user operation.
The 0.82-acre property is paved, fully fenced, and accessed through a secured electric keypad gate. It carries Commercial B-2 (Neighborhood Business) zoning and includes a parking lot, public water, and public sewer. Concrete flooring, metal siding, and public utility connections support a range of warehouse and commercial configurations.
The 0.82-acre property is paved, fully fenced, and accessed through a secured electric keypad gate. It carries Commercial B-2 (Neighborhood Business) zoning and includes a parking lot, public water, and public sewer. Concrete flooring, metal siding, and public utility connections support a range of warehouse and commercial configurations.
Key Highlights
- 10,650 total square feet across existing and new warehouse space
- Existing 3,400‑square‑foot building with units from approximately 510 to 720 square feet
- New 7,250‑square‑foot warehouse under 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
$120,094
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
5.59%
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%
$2,401,880
$2.4M
Cap Rate 7%
$1,715,629
$1.7M
Cap Rate 9%
$1,334,378
$1.3M
Market Conditions
NOI Build-Up for 10,650 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
$201.9K $18.96/SF
− Vacancy
−$17.2K −$1.61/SF
EGI
$184.8K $17.35/SF
− OpEx
−$64.7K −$6.07/SF
NOI
$120.1K $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%
$2,401,880
Cap Rate 7%
$1,715,629
Cap Rate 9%
$1,334,378
Alternative Uses
Best Use
Flex RnD
$1.72M
$1.50M – $2.00M
NOI $120,094 @ 7.0% cap · market cap 5.59%
Second Best
Warehouse
$1.22M
$1.07M – $1.43M
NOI $85,655 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$3.14M
$2.75M – $3.66M
NOI $219,816 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
5
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
249
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 - Fenced, gated warehouse property combines existing small-bay space with a larger concrete building under construction.
Where is this warehouse located?
The property is located at 2724 Hibiscus Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 10,650 total square feet across existing and new warehouse space; Existing 3,400‑square‑foot building with units from approximately 510 to 720 square feet; New 7,250‑square‑foot warehouse under construction
