NNN Leased Auto Parts
For Sale
$699,000
4651 S Ridgewood Avenue, Port Orange, FL 32127
Napa Auto Parts is leased on a NNN basis with a 10-year lease signed in 2022 and roof replaced in 2022.
Property Size5,100 SF
Days on Market122
Property Features for 4651 S Ridgewood Avenue
General Information
Standard status
Active
Size
5,100 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Cap Rate
5.01%
Highway Access
Yes
Building Details
Building Size
5,100 SF
Year Built
1970
Tenancy
Single
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors Ormond Beach
Listed By:
Michael Baxter · License #SL3451680
(386) 999-1762
Source:
Svn
Added: Jun 23
Changed: Oct 15
Last Checked: Oct 20 at 5:42PM
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 SVN | Alliance Commercial Real Estate Advisors Ormond Beach
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a corporate-backed, NNN-leased free-standing retail building occupied by Napa Auto Parts. A 10-year lease was signed in 2022, and there are 5.5 years remaining, with two additional three-year options. The tenant has been at the location for 20+ years. Under the NNN structure, the tenant reimburses the landlord for property taxes, property insurance, and all common area maintenance, while the landlord is responsible for maintaining the roof, foundation, and structure only. The tenant is responsible for all HVAC and mechanicals, and the roof was replaced in March 2022.
The property is located in Port Orange, FL, within a retail-focused area surrounded by a mix of local and national retailers. The remarks cite close proximity to major highways, as well as nearby shopping, dining, and recreational destinations including the Pavilion at Port Orange, Dunlawton Square, and the Halifax River.
The lease is specifically structured as NNN with defined responsibilities for taxes, insurance, common area maintenance, and building systems.
The property is located in Port Orange, FL, within a retail-focused area surrounded by a mix of local and national retailers. The remarks cite close proximity to major highways, as well as nearby shopping, dining, and recreational destinations including the Pavilion at Port Orange, Dunlawton Square, and the Halifax River.
The lease is specifically structured as NNN with defined responsibilities for taxes, insurance, common area maintenance, and building systems.
Key Highlights
- NNN‑leased Napa Auto Parts building with a 10‑year lease signed in 2022 (5.5 years remaining) plus two 3‑year options.
- 5.01% cap rate noted for this corporate‑backed, NNN leased property.
- Tenant has operated at the location for 20+ years.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,034
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$960,680
$960.7K
Cap Rate 7%
$686,200
$686.2K
Cap Rate 9%
$533,711
$533.7K
Market Conditions
NOI Build-Up for 5,100 SF
Gross rent
$76.5K $15.00/SF
− Vacancy
−$7.9K −$1.55/SF
EGI
$68.6K $13.46/SF
− OpEx
−$20.6K −$4.04/SF
NOI
$48.0K $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 Rate 5%
$960,680
Cap Rate 7%
$686,200
Cap Rate 9%
$533,711
Alternative Uses
Best Use
Retail
$686.2K
$600.4K – $800.6K
NOI $48,034 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,264 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
1,247 visits/mo
0.1 miles
Napa Auto Parts
Shops & Services
979 visits/mo
0.0 miles
Demographics for 32127, FL
29,999
Population
15,898
Households
1.9
Avg Household Size
53
Median Age
30%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
2,013
Density / Sq Mi
$65,260
Median Household Income
$39,196
Median Earnings
$1,324
Median Rent
$301,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - Napa Auto Parts is leased on a NNN basis with a 10-year lease signed in 2022 and roof replaced in 2022.
Where is this nnn property located?
The property is located at 4651 S Ridgewood Avenue Port Orange, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: NNN‑leased Napa Auto Parts building with a 10‑year lease signed in 2022 (5.5 years remaining) plus two 3‑year options.; 5.01% cap rate noted for this corporate‑backed, NNN leased property.; Tenant has operated at the location for 20+ years.
