Versatile Mixed-Use Commercial
For Sale
$650,000
Pending
529 RIDGEWOOD Ave, Daytona Beach, FL 32117
Redevelopment zone property with retail, office, and warehouse space.
Property Size7,172 SF
Lot Size0.33 Acres
Days on Market165
Property Features for 529 RIDGEWOOD Ave
General Information
Standard status
Pending
Size
7,172 SF
Lot size
0.33 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,788
Building Details
Building Size
7,172 SF
Year Built
1940
Stories
1
Listing Agency:
CA Calnan Real Estate
(781) 983-4852
Listed By:
Colleen Calnan · License #3173311
(781) 983-4852
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 23 at 4:41AM
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 CA Calnan Real Estate
Investment Insights
Based on property information with market context.
This 7,172 sq ft concrete block building is situated on a 0.33-acre corner lot in a high-traffic corridor along Ridgewood Avenue (U.S.-1). Zoned for retail or mixed commercial use, the property offers versatility. The building combines retail, office, and warehouse space, suitable for various business models and divisible into multiple revenue streams. The front retail area, approximately 4,500 sq ft, features a large bar top island, soundproof viewing window, and partial soundproof wall offering visibility into the warehouse area. The warehouse/workshop space, approximately 2,600 sq ft, includes a 12’x12’ automatic garage door (2020) and an open floor area for production, storage, or distribution. It also features a large executive office with a private restroom, plus three additional restrooms (four total) and a kitchenette. The property includes a separate music studio space with a private entrance. Recent upgrades include a new roof (2020), new plumbing (2020), new HVAC (2022), new electric (2019), and new vinyl flooring throughout. Additional features include an insulated attic, ADA-compliant restrooms, and a large, highly visible monument sign. Located within an Opportunity Zone, this property offers potential tax advantages for investors. All improvements are permitted and up to code. Buyer should check zoning for use restrictions. Sq. footage received from the tax rolls. All measurements are approximate.
Key Highlights
- Prime commercial location on a high‑traffic corner lot (0.33 acres) along Ridgewood Avenue (U.S.-1).
- Versatile zoning allows for retail or mixed commercial use.
- Unique layout combining retail (approx. 4,500 sq ft), office, and warehouse (approx. 2,600 sq ft) space, easily dividable.
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
$57,682
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
8.87%
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%
$1,153,640
$1.2M
Cap Rate 7%
$824,029
$824.0K
Cap Rate 9%
$640,911
$640.9K
Market Conditions
NOI Build-Up for 7,172 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
$71.4K $9.96/SF
− Vacancy
−$3.6K −$0.50/SF
EGI
$67.9K $9.46/SF
− OpEx
−$10.2K −$1.42/SF
NOI
$57.7K $8.04/SF
Area
Volusia County, FL
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,153,640
Cap Rate 7%
$824,029
Cap Rate 9%
$640,911
Alternative Uses
Best Use
Office B
$1.54M
$1.34M – $1.79M
NOI $107,472 @ 7.0% cap · market cap 16.53%
Second Best
Mixed Use
$1.27M
$1.11M – $1.48M
NOI $88,592 @ 7.0% cap · market cap 13.63%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $148,030 @ 7.0% cap · market cap 22.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
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?
Mixed-use property - Redevelopment zone property with retail, office, and warehouse space.
Where is this mixed-use property located?
The property is located at 529 RIDGEWOOD Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime commercial location on a high‑traffic corner lot (0.33 acres) along Ridgewood Avenue (U.S.-1).; Versatile zoning allows for retail or mixed commercial use.; Unique layout combining retail (approx. 4,500 sq ft), office, and warehouse (approx. 2,600 sq ft) space, easily dividable.
