10-Unit Apartment
For Sale
$675,000
542 N Ridgewood Avenue, Daytona Beach, FL 32114
Commercial Sale, Daytona Beach, FL
Property Size8,127 SF
Lot Size0.29 Acres
Price / SF$83.06
Days on Market353
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 3, Bathroom 1, Bathroom 2
Parking features
Guest, Parking Lot, On Street, Gated, Driveway
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
8,127 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
Electric (Heating), Central, Varies by Unit (Heating)
Cooling system
Wall/Window Unit(s), Ceiling Fan(s), Electric, Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1925
Flooring type
Wood, Laminate, Tile
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: Aug 20
Last Checked: Aug 30 at 5:06AM
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.
Investment Insights
Based on property information with market context.
This multifamily property includes 10 units across three separate buildings on a 0.29-acre parcel. The 8,127-square-foot property includes a mix of two-bedroom apartments and studios, with updates completed in several units. Two vacancies remain. Construction includes frame and stucco elements, while flooring varies among wood, laminate, and tile. Heating and cooling systems vary by unit, including central and electric equipment, wall or window units, and ceiling fans.
Residents have access to gated parking, a parking lot, driveway spaces, guest parking, and on-street parking. The property can be entered or exited from US-1 or Taylor Avenue and is within walking distance of downtown and the renovated 25-acre Riverfront Esplanade Park. Public water and sewer serve the property, which was built in 1925.
Residents have access to gated parking, a parking lot, driveway spaces, guest parking, and on-street parking. The property can be entered or exited from US-1 or Taylor Avenue and is within walking distance of downtown and the renovated 25-acre Riverfront Esplanade Park. Public water and sewer serve the property, which was built in 1925.
Key Highlights
- 10 units across three separate buildings on 0.29 acres
- 8,127 SF multifamily property with two‑bedroom units and studios
- Over 10% cap rate with 2 vacancies
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
$61,928
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
9.17%
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%
$1,238,560
$1.2M
Cap Rate 7%
$884,686
$884.7K
Cap Rate 9%
$688,089
$688.1K
Market Conditions
NOI Build-Up for 8,127 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
$125.8K $15.48/SF
− Vacancy
−$13.2K −$1.63/SF
EGI
$112.6K $13.85/SF
− OpEx
−$50.7K −$6.23/SF
NOI
$61.9K $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 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%
$1,238,560
Cap Rate 7%
$884,686
Cap Rate 9%
$688,089
Alternative Uses
Best Use
Apartment 5plus
$884.7K
$774.1K – $1.03M
NOI $61,928 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,741 @ 7.0% cap · market cap 24.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three separate buildings offer varied unit layouts, gated parking, and access from US-1 or Taylor Avenue.
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 $675,000.
What are key features of this property?
This property features: 10 units across three separate buildings on 0.29 acres; 8,127 SF multifamily property with two‑bedroom units and studios; Over 10% cap rate with 2 vacancies
