Two-Story Professional Office
New
For Sale
$299,990
429 N RIDGEWOOD Avenue, Daytona Beach, FL 32114
Commercial Sale, DAYTONA BEACH, FL
Property Size1,824 SF
Lot Size0.24 Acres
Price / SF$164.47
Days on Market5
Property Features for 429 N RIDGEWOOD Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BP
Subdivision
SUTHERLANDS IN COLEMANS DAYTONA
Directions
From ISB (US-92), go north on Ridgewood Ave (US-1) approximately 1 mile. Property is on the right.
Standard status
Active
APN
53-38-23-00-0050
Size
1,824 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 35 FT OF LOT 5 & LOTS 6 & 7 EXC HWY SOUTHERLAND SUB MB 5PG 55 PER OR 5088 PG 2045 PER OR 5992 PG 2815 PER OR 8003 PG 0447
Tax Annual Amount
3154
Legal Description
S 35 FT OF LOT 5 & LOTS 6 & 7 EXC HWY SOUTHERLAND SUB MB 5PG 55 PER OR 5088 PG 2045 PER OR 5992 PG 2815 PER OR 8003 PG 0447
Utilities
Cooling system
Central Air
Building Details
Year built
1933
Floors in Building
1
Flooring type
Bamboo
Building materials
Block, Brick, Concrete, Metal Siding
Roof type
Built-Up
Listing Agency:
REALTY PROS ASSURED
(386) 677-7653
Listed By:
Terry Sitaram · License #3092297
(386) 237-4444
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 9:06PM
MLS# V4950910
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.
Located at 429 N Ridgewood Avenue, this two-story office property provides approximately 1,824 square feet of professional workspace. The interior includes multiple private offices, conference and meeting areas, reception space, storage, and separate office areas on each floor. Central HVAC, bamboo flooring, large front windows, and a built-up roof are among the existing improvements. Construction materials include block, brick, concrete, and metal siding.
The property is zoned BP and fronts North Ridgewood Avenue, also identified as US-1. Twelve dedicated parking spaces serve the building, with access to Downtown Daytona Beach, beachside areas, major roadways, and surrounding commercial districts. The configuration can accommodate a range of professional office arrangements, subject to applicable zoning and governmental approvals.
The property is zoned BP and fronts North Ridgewood Avenue, also identified as US-1. Twelve dedicated parking spaces serve the building, with access to Downtown Daytona Beach, beachside areas, major roadways, and surrounding commercial districts. The configuration can accommodate a range of professional office arrangements, subject to applicable zoning and governmental approvals.
Key Highlights
- Two‑story office building at 429 N Ridgewood Avenue, Daytona Beach, FL 32114
- 1,824 square feet of property size
- 0.24‑acre lot
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
$27,333
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
9.11%
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%
$546,660
$546.7K
Cap Rate 7%
$390,471
$390.5K
Cap Rate 9%
$303,700
$303.7K
Market Conditions
NOI Build-Up for 1,824 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
$39.4K $21.60/SF
− Vacancy
−$3.0K −$1.62/SF
EGI
$36.4K $19.98/SF
− OpEx
−$9.1K −$5.00/SF
NOI
$27.3K $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%
$546,660
Cap Rate 7%
$390,471
Cap Rate 9%
$303,700
Alternative Uses
Best Use
Office B
$390.5K
$341.7K – $455.6K
NOI $27,333 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.8K
$470.6K – $627.5K
NOI $37,647 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,363
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 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 - BP-zoned office property with private rooms, meeting areas, central HVAC, and dedicated parking along the US-1 corridor.
Where is this office building located?
The property is located at 429 N RIDGEWOOD Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $299,990.
What are key features of this property?
This property features: Two‑story office building at 429 N Ridgewood Avenue, Daytona Beach, FL 32114; 1,824 square feet of property size; 0.24‑acre lot
