Two-Story Office
For Sale
$1,715,000
3090 S Ridgewood Avenue, South Daytona, FL 32119
Commercial Sale, South Daytona, FL
Property Size10,500 SF
Lot Size0.65 Acres
Price / SF$163.33
Days on Market855
Property Features for 3090 S Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Retail
Security features
Security
Directions
From Dunlawton Ave, turn to go North on US-1 for less than a mile. The building is on the Left. Enter via Venture Dr.
Subdivision
25 - Daytona S of Beville, E of Nova
Standard status
Active
APN
5334-07-00-0031
Size
10,500 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
34 15 33 LOT 3B EXC PART IN ST RD 5 SUB LOT 1 PER OR 2779 PG 0178 PER OR 5730 PG 0726 PER OR 5882 PG 4515 PER OR 5990 PGS 0608-0609 INC PER OR 7746 PG 2372
Tax Annual Amount
21819
Legal Description
34 15 33 LOT 3B EXC PART IN ST RD 5 SUB LOT 1 PER OR 2779 PG 0178 PER OR 5730 PG 0726 PER OR 5882 PG 4515 PER OR 5990 PGS 0608-0609 INC PER OR 7746 PG 2372
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
gated deck
pool
Building Details
Year built
2007
Building materials
Block, Concrete, Stucco
Roof type
Metal
Listing Agency:
Oceans Luxury Realty Full Service LLC
(386) 236-3700
Listed By:
Dayanis Purucker · License #3366027
(386) 315-4450
Added: May 7, 2024
Changed: Aug 20
Last Checked: Sep 8 at 12:06PM
MLS# 1123272
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 10,500-square-foot office building occupies a 0.65-acre site and was constructed in 2007. The two-story structure uses block, concrete, and stucco construction with a metal roof, central air, central electric heating, public water, and public sewer. Interior features include an open-concept layout, substantial window exposure, an elevator, and a lofted second-floor area that can support workspace, storage, or specialized facilities. A gated deck and 4.5-foot-deep pool are also part of the property.
The property is located at 3090 S Ridgewood Avenue in South Daytona, with 23 concrete parking spaces in front and additional street parking nearby. Shops, restaurants, entertainment, and the beach are identified as nearby area amenities. The offering includes the land and building only; no existing business or occupant assets are included.
The property is located at 3090 S Ridgewood Avenue in South Daytona, with 23 concrete parking spaces in front and additional street parking nearby. Shops, restaurants, entertainment, and the beach are identified as nearby area amenities. The offering includes the land and building only; no existing business or occupant assets are included.
Key Highlights
- 10,500‑square‑foot office building on a 0.65‑acre site
- Two‑story block, concrete, and stucco construction completed in 2007
- 23 concrete parking spaces in front, plus nearby street parking
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
$157,343
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
9.17%
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%
$3,146,860
$3.1M
Cap Rate 7%
$2,247,757
$2.2M
Cap Rate 9%
$1,748,256
$1.7M
Market Conditions
NOI Build-Up for 10,500 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
$226.8K $21.60/SF
− Vacancy
−$17.0K −$1.62/SF
EGI
$209.8K $19.98/SF
− OpEx
−$52.4K −$5.00/SF
NOI
$157.3K $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%
$3,146,860
Cap Rate 7%
$2,247,757
Cap Rate 9%
$1,748,256
Alternative Uses
Best Use
Office B
$2.25M
$1.97M – $2.62M
NOI $157,343 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,720 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
368
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
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout with abundant windows, an elevator, lofted upper-level area, gated deck, and pool.
Where is this office building located?
The property is located at 3090 S Ridgewood Avenue South Daytona, FL.
What is the asking price?
The asking price for this property is $1,715,000.
What are key features of this property?
This property features: 10,500‑square‑foot office building on a 0.65‑acre site; Two‑story block, concrete, and stucco construction completed in 2007; 23 concrete parking spaces in front, plus nearby street parking
