Multi-Suite Office
For Sale
$649,000
2763 S RIDGEWOOD Avenue, South Daytona, FL 32119
Commercial Sale, SOUTH DAYTONA, FL
Property Size2,838 SF
Lot Size0.24 Acres
Price / SF$250.19
Days on Market95
Property Features for 2763 S RIDGEWOOD Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
SANDY POINT RESUB
View
Water
Directions
located at the corner of Reed Canal Rd & Ridgewood Ave
Standard status
Active
APN
5333-13-00-0110
Size
2,594 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
34 15 33 LOT 11 EXC E 260.5 FT & EXC PART IN ST RD 5 SANDY POINT RESUB MB 19 PG 288 PER OR 3245 PG 0465 PER OR 6262 PGS 0792-0793 PER OR 7758 PG 4857
Tax Annual Amount
4835
Legal Description
34 15 33 LOT 11 EXC E 260.5 FT & EXC PART IN ST RD 5 SANDY POINT RESUB MB 19 PG 288 PER OR 3245 PG 0465 PER OR 6262 PGS 0792-0793 PER OR 7758 PG 4857
Utilities
Cooling system
Central Air
Water front
1
Building Details
Year built
1963
Building materials
Block
Listing Agency:
ADAMS, CAMERON & CO., REALTORS
(386) 738-1920
Listed By:
Daniel Lyonnais · License #3196672
(386) 852-7932
Added: Jun 8
Changed: Aug 25
Last Checked: Sep 10 at 2:06PM
MLS# V4949560
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.
This single-story office building offers three separate suites plus a kitchen area that can function independently or as a combined layout. The masonry structure was built in 1963 and features a dedicated restroom serving the suite and kitchen areas, along with separate electric metering. Central air conditioning supports the interior, while 21 parking spaces serve the property. The front office is currently occupied by an active tenant that would prefer to continue operating on site.
The property occupies approximately 0.24 acres at the signalized intersection of S. Ridgewood Ave (US-1) and Reed Canal in South Daytona. Its corner position provides access from the intersection, monument signage space, and exposure to passing traffic. Zoning is Business General Commercial (BGC), supporting the property's office use.
The property occupies approximately 0.24 acres at the signalized intersection of S. Ridgewood Ave (US-1) and Reed Canal in South Daytona. Its corner position provides access from the intersection, monument signage space, and exposure to passing traffic. Zoning is Business General Commercial (BGC), supporting the property's office use.
Key Highlights
- Three‑suite office configuration with kitchen area
- Approximately 0.24‑acre site with 21 parking spaces
- Signalized corner at S. Ridgewood Ave (US‑1) and Reed Canal
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
$38,871
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
5.99%
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%
$777,420
$777.4K
Cap Rate 7%
$555,300
$555.3K
Cap Rate 9%
$431,900
$431.9K
Market Conditions
NOI Build-Up for 2,594 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
$56.0K $21.60/SF
− Vacancy
−$4.2K −$1.62/SF
EGI
$51.8K $19.98/SF
− OpEx
−$13.0K −$5.00/SF
NOI
$38.9K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$777,420
Cap Rate 7%
$555,300
Cap Rate 9%
$431,900
Alternative Uses
Best Use
Office B
$555.3K
$485.9K – $647.9K
NOI $38,871 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$764.9K
$669.3K – $892.3K
NOI $53,540 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-story masonry office property with flexible suite configuration, dedicated restroom service, and on-site parking.
Where is this office building located?
The property is located at 2763 S RIDGEWOOD Avenue South Daytona, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three‑suite office configuration with kitchen area; Approximately 0.24‑acre site with 21 parking spaces; Signalized corner at S. Ridgewood Ave (US‑1) and Reed Canal
