Retail Showroom
For Sale
$2,650,000
311 S RIDGEWOOD Ave, Edgewater, FL 32132
Concrete-block retail showroom building on US1, suited for car-dependent retail tenants in Edgewater area.
Property Size13,500 SF
Days on Market56
Property Features for 311 S RIDGEWOOD Ave
General Information
Standard status
Active
Size
13,500 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,123
Building Details
Building Size
13,500 SF
Year Built
2006
Listing Agency:
White Whale Real Estate
(386) 690-3423
Listed By:
Timothy Loomis · License #3457334
(386) 690-3423
Source:
Elliman
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 12 at 6:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of White Whale Real Estate
Investment Insights
Based on property information with market context.
This property is a retail showroom building constructed with concrete block. It is presented for sale and is currently under contract, accepting backup offers, which can matter for buyers planning their timeline and due diligence.
The building is located on US1, approximately 2 miles south of Hwy 44 in the New Smyrna Beach and Edgewater area. The provided mobility indicators suggest a car-dependent setting (walkScore: 15), with moderate bikeability (bikeScore: 55).
For retailers and showroom operators seeking a dedicated structure, a showroom-format building can support product display, customer browsing, and client meetings in a purpose-built retail environment. The concrete-block construction may also appeal to tenants or buyers looking for a solid, durable shell for retail improvements. Consider this property if your business model depends primarily on drive-in customer access and you want a straightforward retail showroom configuration in the US1 corridor.
The building is located on US1, approximately 2 miles south of Hwy 44 in the New Smyrna Beach and Edgewater area. The provided mobility indicators suggest a car-dependent setting (walkScore: 15), with moderate bikeability (bikeScore: 55).
For retailers and showroom operators seeking a dedicated structure, a showroom-format building can support product display, customer browsing, and client meetings in a purpose-built retail environment. The concrete-block construction may also appeal to tenants or buyers looking for a solid, durable shell for retail improvements. Consider this property if your business model depends primarily on drive-in customer access and you want a straightforward retail showroom configuration in the US1 corridor.
Key Highlights
- Retail showroom building built in 2006
- Concrete‑block construction
- Located on US1, about 2 miles south of Hwy 44 in the New Smyrna Beach/Edgewater area
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
$127,150
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
4.80%
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%
$2,543,000
$2.5M
Cap Rate 7%
$1,816,429
$1.8M
Cap Rate 9%
$1,412,778
$1.4M
Market Conditions
NOI Build-Up for 13,500 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
$202.5K $15.00/SF
− Vacancy
−$20.9K −$1.55/SF
EGI
$181.6K $13.46/SF
− OpEx
−$54.5K −$4.04/SF
NOI
$127.1K $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%
$2,543,000
Cap Rate 7%
$1,816,429
Cap Rate 9%
$1,412,778
Alternative Uses
Best Use
Retail
$1.82M
$1.59M – $2.12M
NOI $127,150 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,640 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Murphy USA
Shops & Services
5,417 visits/mo
0.2 miles
Dollar General
Shops & Services
5,250 visits/mo
0.4 miles
BP
Shops & Services
2,639 visits/mo
0.2 miles
CubeSmart Self Storage
Shops & Services
848 visits/mo
0.4 miles
Demographics for 32132, FL
8,189
Population
4,266
Households
1.9
Avg Household Size
52
Median Age
19%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
1,170
Density / Sq Mi
$53,860
Median Household Income
$34,816
Median Earnings
$1,316
Median Rent
$234,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - Concrete-block retail showroom building on US1, suited for car-dependent retail tenants in Edgewater area.
Where is this showroom located?
The property is located at 311 S RIDGEWOOD Ave Edgewater, FL.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Retail showroom building built in 2006; Concrete‑block construction; Located on US1, about 2 miles south of Hwy 44 in the New Smyrna Beach/Edgewater area
