10-Unit Apartment
For Sale
$650,000
542 N Ridgewood Avenue, Daytona Beach, FL 32114
Commercial Sale, Daytona Beach, FL
Property Size5,797 SF
Lot Size0.29 Acres
Price / SF$112.13
Days on Market401
Property Features for 542 N Ridgewood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 3, Bathroom 1
Parking features
Driveway, On Street, Guest, Parking Lot, Gated
Security features
Security
Fencing
Fenced
Lot features
Cleared, Split Possible, Uplands
Directions
Mason Ave to Us-1(ridgewood) head south, property is on the right.
Subdivision
34 - Daytona ISB to Mason, E of 95
Standard status
Active
APN
5338-38-00-0580
Size
5,797 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
38-15-33 LOTS 56 & 58 & E 1/2 OF LOT 55 EXC R/W MARSHALL SUB COLEMANS DAYTONA MB 15 PG 199 PER OR 4027 PG 2555 PER OR 4114 PG 4652 PER OR 6678 PG 1276 PER OR 8355 PG 1041
Tax Annual Amount
4486
Legal Description
38-15-33 LOTS 56 & 58 & E 1/2 OF LOT 55 EXC R/W MARSHALL SUB COLEMANS DAYTONA MB 15 PG 199 PER OR 4027 PG 2555 PER OR 4114 PG 4652 PER OR 6678 PG 1276 PER OR 8355 PG 1041
Utilities
Sewer type
Public Sewer
Heating system
Central, Varies by Unit (Heating), Electric (Heating)
Cooling system
Electric, Wall/Window Unit(s), Central Air, Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1925
Flooring type
Tile, Wood, Laminate
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
Realty Pros Assured
(386) 677-7653
Listed By:
Thomas Caffrey
(386) 290-9233
Added: Sep 12, 2025
Changed: Oct 13
Last Checked: Oct 17 at 5:06PM
MLS# 1217843
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.
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Investment Insights
Based on property information with market context.
This 10-unit multifamily property comprises three separate buildings totaling 5,797 square feet on a 0.29-acre parcel. The unit mix ranges from studios to two-bedroom apartments, and several units have been updated. The property was built in 1925 and has two vacancies. Parking is available on site.
Access is available from either US-1 or Taylor. Downtown and the 25-acre riverfront esplanade park are within walking distance. A Florida Department of Transportation project on US-1 is slated to add lighting, bicycle lanes, landscaping and roadway improvements.
Access is available from either US-1 or Taylor. Downtown and the 25-acre riverfront esplanade park are within walking distance. A Florida Department of Transportation project on US-1 is slated to add lighting, bicycle lanes, landscaping and roadway improvements.
Key Highlights
- 10 apartments across three buildings
- 5,797 square feet on a 0.29‑acre parcel
- Unit mix includes studios and two‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,173
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,460
$883.5K
Cap Rate 7%
$631,043
$631.0K
Cap Rate 9%
$490,811
$490.8K
Market Conditions
NOI Build-Up for 5,797 SF
Gross rent
$89.7K $15.48/SF
− Vacancy
−$9.4K −$1.63/SF
EGI
$80.3K $13.85/SF
− OpEx
−$36.1K −$6.23/SF
NOI
$44.2K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,460
Cap Rate 7%
$631,043
Cap Rate 9%
$490,811
Alternative Uses
Best Use
Apartment 5plus
$631.0K
$552.2K – $736.2K
NOI $44,173 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $1.99M
NOI $119,650 @ 7.0% cap · market cap 18.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Three separate buildings provide a mix of studio and two-bedroom residences, with parking on site.
Where is this apartment building located?
The property is located at 542 N Ridgewood Avenue 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: 10 apartments across three buildings; 5,797 square feet on a 0.29‑acre parcel; Unit mix includes studios and two‑bedroom apartments
