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    Waterfront Community Building Opportunity Title is generated by Realmo AI

    4332 Cedar Way, Edgewater, FL 32141

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    For Sale
    $67,000

    LAND - Edgewater, FL

    Lot size:
    0.11 Acres
    Added:
    Jan 6, 2026
    Days on Market:
    140
    Last Refresh:
    May 26 at 10:06 pm

    Property Features for 4332 Cedar Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    8538-12-02-1850
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 185 TERRA MAR VILLAGE MHP SEC 03 RIVER PARK MOBILE HOME COLONY SEC 2 MB 32 PG 107 PER OR 2032 PG 0292 PER OR 4819 PG 2324 PER OR 5572 PG 314 PER OR 8045 PG 1816
    Tax Annual Amount
    713

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Emily Van Doorn

    Listing agent Emily Van Doorn

    Listing office Realty Pros Assured 301 Dunlawton Ave., Ormond Beach, FL

    Listing date Jan 6, 2026

    MLS# 1221443 Listing URL

    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.

    HighLights

    • Waterfront community with Intracoastal access via private boat ramp, boat dock, and optional boat slip lease.
    • Vacant 50 x 100 corner lot, cleared and level, ready for building.
    • Flexible zoning (MH5) allows for manufactured home (new or relocated) or single‑family home construction.
    • Located in Flood Zone X, eliminating the need for flood insurance.
    • County‑approved variance for extended setbacks with available site plans for a 2‑bedroom home.
    • All‑age community with amenities including two pools, clubhouse, bocce ball, shuffleboard, RV/boat storage.

    Overview

    This cleared and level 50 x 100 corner lot presents a rare opportunity to build in the desirable waterfront community of Terra Mar Village. Situated on a quiet cul-de-sac, the property is zoned MH5, allowing for a new manufactured home, relocation of an existing manufactured home, or construction of a single-family concrete block or wood/metal-frame home. A county-approved variance for extended setbacks is in place, and site plans are available for a 2-bedroom, 2-bath home with loft, two driveways, and carport. Located in Flood Zone X, flood insurance is not required. This all-age community is zoned for the New Smyrna Beach school district. Community amenities include two pools (one heated), a clubhouse, bocce ball, shuffleboard, RV and boat storage, boat slips (lease available), a private boat ramp with Intracoastal access, a boat dock, and a new fishing pier. The property has low fees and is located minutes from shopping, dining, and New Smyrna Beach.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Gym & Fitness Center Auto Repair Shop Accounting Firm Grocery & Convenience Store Auto Parts Store Food Market Grocery & Convenience Store Electrical Service Furniture & Home Goods

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edgewater
    County
    Volusia
    State
    Florida
    Longitude
    -80.865122
    Latitude
    28.914914

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    FAQs

    What type of property is this?
    Residential land & home lot - Vacant corner lot in desirable waterfront community, ready to build.
    Where is this residential land & home lot located?
    The property is located at 4332 Cedar Way Edgewater, FL.
    What is the asking price?
    The asking price for this property is $67,000.
    What are key features of this property?
    This property features: Waterfront community with Intracoastal access via private boat ramp, boat dock, and optional boat slip lease.; Vacant 50 x 100 corner lot, cleared and level, ready for building.; Flexible zoning (MH5) allows for manufactured home (new or relocated) or single‑family home construction.
    (386) 679-6540
    We can help!
    Listing Contact
    Emily Van Doorn
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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