Retail, Office & Warehouse
For Sale
$689,900
529 Ridgewood Avenue, Daytona Beach, FL 32117
Concrete block corner building combines retail front, office facilities, and warehouse/workshop space with ADA-compliant restrooms.
Property Size7,172 SF
Lot Size0.33 Acres
Price / SF$96.19
Days on Market314
Property Features for 529 Ridgewood Avenue
General Information
Standard status
Active
Size
7,172 SF
Lot size
0.33 Acres
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$4,789
Amenities
large bar top island
soundproof viewing window
partial soundproof wall
large executive office with private restroom
kitchenette
private music studio
insulated attic
ADA-compliant restrooms
monument sign
Central Air
3
Building Details
Year Built
1940
Stories
1
Construction
concrete block
Listing Agency:
CALNAN REAL ESTATE
(386) 675-1137
Listed By:
Colleen Calnan · License #3173311
(386) 675-1136
Source:
Xome
Added: Oct 31, 2025
Changed: Sep 8
Last Checked: Aug 6 at 11:14AM
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 CALNAN REAL ESTATE
Investment Insights
Based on property information with market context.
This concrete block building on a corner lot combines multiple functional areas, including a front retail space, a warehouse/workshop area, and office facilities. The retail area features a large bar top island and soundproof viewing elements that provide visibility into the warehouse while supporting quieter retail operations. The warehouse/workshop space includes an automatic 12’ x 12’ garage door installed in 2020 and an open layout suitable for production, storage, or distribution. Office amenities include an executive office with a private restroom, a kitchenette, and three additional restrooms for four total, along with ADA-compliant restrooms. The property also includes a separate music studio space with a private entrance.
The building is located on a high-traffic corridor along Ridgewood Avenue (U.S.-1). It is zoned for retail or mixed commercial use, and the improvements are stated to be permitted and up to code.
Recent upgrades referenced in the listing include a new roof (2020), new plumbing (2020), new HVAC (2022), new electric (2019), and new vinyl flooring throughout, along with an insulated attic and a large, highly visible monument sign. Measurements and square footage are approximate, and buyers are advised to verify zoning and any use restrictions.
The building is located on a high-traffic corridor along Ridgewood Avenue (U.S.-1). It is zoned for retail or mixed commercial use, and the improvements are stated to be permitted and up to code.
Recent upgrades referenced in the listing include a new roof (2020), new plumbing (2020), new HVAC (2022), new electric (2019), and new vinyl flooring throughout, along with an insulated attic and a large, highly visible monument sign. Measurements and square footage are approximate, and buyers are advised to verify zoning and any use restrictions.
Key Highlights
- 7,172 SF concrete block building on a 0.33‑acre corner lot on Ridgewood Ave (U.S.-1) in a high‑traffic corridor
- Zoned for retail or mixed commercial use; layout combines retail, office, and warehouse/workshop space and is easily dividable into revenue streams
- Front retail area approx. 4,500 SF with bar top island and soundproof viewing window/partial soundproof wall into warehouse for quieter operations
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
8.36%
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 15.58%
Second Best
Flex RnD
$1.16M
$1.01M – $1.35M
NOI $80,875 @ 7.0% cap · market cap 11.72%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $148,030 @ 7.0% cap · market cap 21.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete block corner building combines retail front, office facilities, and warehouse/workshop space with ADA-compliant restrooms.
Where is this flex space located?
The property is located at 529 Ridgewood Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: 7,172 SF concrete block building on a 0.33‑acre corner lot on Ridgewood Ave (U.S.-1) in a high‑traffic corridor; Zoned for retail or mixed commercial use; layout combines retail, office, and warehouse/workshop space and is easily dividable into revenue streams; Front retail area approx. 4,500 SF with bar top island and soundproof viewing window/partial soundproof wall into warehouse for quieter operations
