Daytona Beach Portfolio
For Sale
$1,650,000
404 S RIDGEWOOD Ave, Daytona Beach, FL 32114
Five parcels including a historic home and buildable lots.
Property Size16,021 SF
Lot Size0.87 Acres
Price / SF$206.25
Days on Market152
Property Features for 404 S RIDGEWOOD Ave
General Information
Standard status
Active
Size
16,021 SF
Lot size
0.87 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,755
Building Details
Building Size
16,021 SF
Year Built
1901
Units
30
Listing Agency:
ADAMS, CAMERON & CO., REALTORS
(386) 852-7932
Listed By:
Daniel Lyonnais · License #3196672
(386) 852-7932
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Jul 16 at 4:23AM
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 ADAMS, CAMERON & CO., REALTORS
Investment Insights
Based on property information with market context.
This portfolio consists of five parcels, including an 8,000 square foot fully renovated historic Victorian home, a 7,000 square foot co-living property, a 1,021 square foot house, and three adjacent land parcels in Daytona Beach, Florida. The homes are strategically located with 164 feet of frontage on US-1, minutes from the beach, the Intercoastal Waterway, and major attractions. The centerpiece is the Victorian home, listed on the U.S. National Register of Historic Places, featuring 10 uniquely decorated bedrooms, 5 full bathrooms, and two basement apartments. The current lease with Pad Split runs through July 2025. The 1,021 square foot house has 4 bedrooms and 1 bathroom and has been fully renovated with a new bathroom/shower, plumbing, and General Electric upgrades. All three properties benefit from recent leases with Pad Split. The three land parcels total 0.51 acres and are zoned T-2, allowing for a wide variety of uses. The portfolio includes over $100,000 in furniture and fixtures. This offering is appealing to investors and developers.
Key Highlights
- Significant Price Reduction: Over $800k reduction, offered below market value.
- Turnkey Rented Portfolio: Includes furniture and fixtures for immediate income.
- Multiple Properties: Featuring a renovated 8,000 SF Historic Victorian, a 7,000 SF co‑living property, and a 1,021 SF house.
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
$60,960
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
3.69%
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%
$1,219,200
$1.2M
Cap Rate 7%
$870,857
$870.9K
Cap Rate 9%
$677,333
$677.3K
Market Conditions
NOI Build-Up for 8,000 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
$123.8K $15.48/SF
− Vacancy
−$13.0K −$1.63/SF
EGI
$110.8K $13.85/SF
− OpEx
−$49.9K −$6.23/SF
NOI
$61.0K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
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%
$1,219,200
Cap Rate 7%
$870,857
Cap Rate 9%
$677,333
Alternative Uses
Best Use
Apartment 5plus
$870.9K
$762.0K – $1.02M
NOI $60,960 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,120 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,555
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Five parcels including a historic home and buildable lots.
Where is this multifamily property located?
The property is located at 404 S RIDGEWOOD Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Significant Price Reduction: Over $800k reduction, offered below market value.; Turnkey Rented Portfolio: Includes furniture and fixtures for immediate income.; Multiple Properties: Featuring a renovated 8,000 SF Historic Victorian, a 7,000 SF co‑living property, and a 1,021 SF house.
