Three-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$231.79
Days on Market92
Property Features for 2763 S Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Condominium
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Parking features
Parking Lot
Lot features
Corner Lot
Directions
Exit I 95 Head East, located at the corner of Reed Canal Rd & Ridgewood Ave
Subdivision
25 - Daytona S of Beville, E of Nova
Standard status
Active
APN
533313000110
Size
2,800 SF
Lot size
0.24 Acres
Taxes and HOA fees
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
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
Sewer type
Private Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front
1
Amenities
kitchen area
Building Details
Year built
1963
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Block
Roof type
Shingle
Listing Agency:
Adams, Cameron & Co., Realtors
(386) 258-5500
Listed By:
Dan Lyonnais
(386) 852-7932
Added: May 26
Changed: Aug 20
Last Checked: Aug 25 at 6:06AM
MLS# 1226845
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 single-story office property contains approximately 2,800 rentable square feet within a 2,838-square-foot gross building. The masonry structure, built in 1963, offers three distinct suites, a kitchen area, and a dedicated restroom serving the office configuration. Suites may remain separated or be combined, and the front office is currently occupied by a tenant who prefers to remain. Interior finishes include tile and carpet, with central heating and central air.
The property occupies approximately 0.24 acres at the signalized intersection of S. Ridgewood Ave (US-1) and Reed Canal in South Daytona. The site includes 21 parking spaces, monument signage space, and access from the intersection. Zoning is Business General Commercial (BGC). Public water and private sewer serve the property.
The property occupies approximately 0.24 acres at the signalized intersection of S. Ridgewood Ave (US-1) and Reed Canal in South Daytona. The site includes 21 parking spaces, monument signage space, and access from the intersection. Zoning is Business General Commercial (BGC). Public water and private sewer serve the property.
Key Highlights
- 2,838 SF gross building with approximately 2,800 SF rentable area
- Three distinct office suites with flexible separation or combination
- Approximately 0.24 AC site with 21 parking spaces
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
$41,958
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
6.47%
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%
$839,160
$839.2K
Cap Rate 7%
$599,400
$599.4K
Cap Rate 9%
$466,200
$466.2K
Market Conditions
NOI Build-Up for 2,800 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
$60.5K $21.60/SF
− Vacancy
−$4.5K −$1.62/SF
EGI
$55.9K $19.98/SF
− OpEx
−$14.0K −$5.00/SF
NOI
$42.0K $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%
$839,160
Cap Rate 7%
$599,400
Cap Rate 9%
$466,200
Alternative Uses
Best Use
Office B
$599.4K
$524.5K – $699.3K
NOI $41,958 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.6K
$722.4K – $963.2K
NOI $57,792 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office 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?
Office building - Flexible single-story workspace with separate suites, dedicated restroom, kitchen area, and central HVAC.
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: 2,838 SF gross building with approximately 2,800 SF rentable area; Three distinct office suites with flexible separation or combination; Approximately 0.24 AC site with 21 parking spaces
