Retail and Office
For Sale
Contact for pricing
5929 S RIDGEWOOD AVE, Port Orange, FL 32127
Versatile 1,440 SF shop and office setup suited for businesses needing both retail and workspace in one location.
Property Size1,440 SF
Price / SF$218.75
Days on Market60
Property Features for 5929 S RIDGEWOOD AVE
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Office, Mixed Use, Special Purpose
Building Details
Year Built
1934
Listing Agency:
Salty City Realty
(386) 295-9299
Listed By:
PETE KLIRONOMOS · License #BK3410351
Source:
Crexi
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 4 at 6:10AM
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 Salty City Realty
Investment Insights
Based on property information with market context.
This offering combines retail and office space in a total 1,440 SF configuration, described as a hobby shop and office environment. The property is listed for sale and presented as a commercial-use space with room to support both customer-facing activity and day-to-day work functions within the same footprint.
The asset is located at 5929 S Ridgewood Ave in Port Orange, Florida. The listing does not provide additional details on frontage, access, or neighboring tenants, but the address situates the property on a Ridgewood Avenue corridor suitable for general commercial use.
For tenants, buyers, or owner-operators, the mix of a shop area and an office portion can fit a range of small retail and service concepts that want dedicated workspace while still maintaining a retail presence. Because the remarks emphasize a hobby shop and office use, the space may be especially practical for businesses that benefit from having a customer area paired with functional office operations. The property is offered for sale with a stated listing price of $315,000.
The asset is located at 5929 S Ridgewood Ave in Port Orange, Florida. The listing does not provide additional details on frontage, access, or neighboring tenants, but the address situates the property on a Ridgewood Avenue corridor suitable for general commercial use.
For tenants, buyers, or owner-operators, the mix of a shop area and an office portion can fit a range of small retail and service concepts that want dedicated workspace while still maintaining a retail presence. Because the remarks emphasize a hobby shop and office use, the space may be especially practical for businesses that benefit from having a customer area paired with functional office operations. The property is offered for sale with a stated listing price of $315,000.
Key Highlights
- 1,440 SF shop and office space with room to support retail and business workspace needs
- Year built: 1934
- 2/2/2023 public remarks note potential for commercial use
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
$21,578
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
6.85%
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%
$431,560
$431.6K
Cap Rate 7%
$308,257
$308.3K
Cap Rate 9%
$239,756
$239.8K
Market Conditions
NOI Build-Up for 1,440 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
$31.1K $21.60/SF
− Vacancy
−$2.3K −$1.62/SF
EGI
$28.8K $19.98/SF
− OpEx
−$7.2K −$5.00/SF
NOI
$21.6K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$431,560
Cap Rate 7%
$308,257
Cap Rate 9%
$239,756
Alternative Uses
Best Use
Office B
$308.3K
$269.7K – $359.6K
NOI $21,578 @ 7.0% cap · market cap 6.85%
Second Best
Retail
$193.8K
$169.5K – $226.1K
NOI $13,563 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$424.6K
$371.5K – $495.4K
NOI $29,722 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 32127, FL
29,999
Population
15,898
Households
1.9
Avg Household Size
53
Median Age
30%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
2,013
Density / Sq Mi
$65,260
Median Household Income
$39,196
Median Earnings
$1,324
Median Rent
$301,800
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?
Office units - Versatile 1,440 SF shop and office setup suited for businesses needing both retail and workspace in one location.
Where is this office units located?
The property is located at 5929 S RIDGEWOOD AVE Port Orange, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,440 SF shop and office space with room to support retail and business workspace needs; Year built: 1934; 2/2/2023 public remarks note potential for commercial use
