Mixed-Use Retail Warehouse Office
For Sale
Under Contract
$650,000
529 Ridgewood Avenue, Holly Hill, FL 32117
COMMERCIAL - Holly Hill, FL
Property Size7,172 SF
Lot Size0.33 Acres
Price / SF$90.63
Days on Market261
Property Features for 529 Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Parking Lot
Subdivision
Mason & Carswells Holly Hill
Lot features
Corner Lot
Directions
from Mason and Ridgewood head north to 529 on the right
Standard status
Active Under Contract
APN
4244-01-23-0042
Size
7,172 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
37-15-33 W 180 FT OF S 90 FT OF LOT 4 EXC W 3 FT IN ST BLK 23 MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 5106 PG 4878 PER OR 7754 PG 0444
Tax Annual Amount
4833
Legal Description
37-15-33 W 180 FT OF S 90 FT OF LOT 4 EXC W 3 FT IN ST BLK 23 MASON & CARSWELLS HOLLY HILL MB 2 PG 90 MB 12 PGS 3-4 PER OR 5106 PG 4878 PER OR 7754 PG 0444
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
bar top island
soundproof viewing window
soundproof wall
12x12 automatic garage door
executive office with private restroom
kitchenette
music studio space with private entrance
insulated attic
ADA-compliant restrooms
monument sign
Building Details
Year built
1940
Number of units
1
Flooring type
Concrete, Laminate
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Calnan Real Estate
(386) 675-1137
Listed By:
Colleen Calnan · License #3173311
(386) 675-1136
Added: Nov 19, 2025
Changed: Aug 4
Last Checked: Aug 7 at 7:06AM
MLS# 1220169
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.
Investment Insights
Based on property information with market context.
This concrete block mixed-use building is set on a 0.33-acre corner lot and is configured with retail, office, and warehouse/workshop space. The front retail area includes a large bar top island, a soundproof viewing window, and partial soundproof wall elements oriented toward the warehouse area for quieter retail operations. The warehouse/workshop space offers generous open floor area and a 12’x12’ automatic garage door installed in 2020. Office amenities include an executive office with a private restroom, plus three additional restrooms (four total) and a kitchenette. The property also includes a separate music studio space with a private entrance.
The building has been updated and permitted, with upgrades including 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 highly visible monument sign. It is zoned for retail or mixed commercial use and is located in an Opportunity Zone.
All improvements are permitted and described as up to code. Buyer should verify zoning and any use restrictions. There are no warranties expressed or implied, and measurements are approximate.
The building has been updated and permitted, with upgrades including 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 highly visible monument sign. It is zoned for retail or mixed commercial use and is located in an Opportunity Zone.
All improvements are permitted and described as up to code. Buyer should verify zoning and any use restrictions. There are no warranties expressed or implied, and measurements are approximate.
Key Highlights
- 7,172 SF concrete block building on a 0.33‑acre corner lot on Ridgewood Avenue (U.S.-1)
- Updated and permitted layout with retail, office, and warehouse/workshop space—potential to subdivide into multiple revenue streams
- Approx. 4,500 SF front retail area with large bar top island, soundproof viewing window, and partial soundproof wall
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
Flex RnD
$1.16M
$1.01M – $1.35M
NOI $80,875 @ 7.0% cap · market cap 12.44%
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
Lease Details
1
Drive-in doors
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 building on a corner lot with divisible retail, office, and warehouse/workshop space.
Where is this flex space located?
The property is located at 529 Ridgewood Avenue Holly Hill, 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: 7,172 SF concrete block building on a 0.33‑acre corner lot on Ridgewood Avenue (U.S.-1); Updated and permitted layout with retail, office, and warehouse/workshop space—potential to subdivide into multiple revenue streams; Approx. 4,500 SF front retail area with large bar top island, soundproof viewing window, and partial soundproof wall
