Five-Unit Apartment
610 S RIDGEWOOD AVENUE, Daytona Beach, FL 32114
For Sale
$650,000
Corner property includes an adjacent parcel within Downtown zoning and sits near Daytona Beach’s downtown and beachside corridors.
Property Size2,400 SF
Lot Size0.40 Acres
Price / SF$270.83
Days on Market61
Property Features for 610 S RIDGEWOOD AVENUE
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Road Access
Multifamily Units
Building Details
Year Built
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
Husain Jaffer · License #3293364
(407) 923-7642
Source:
Dennisrealty
Added: Sep 8
Changed: Nov 6
Last Checked: Nov 6 at 9:41AM
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 CHARLES RUTENBERG REALTY ORLANDO
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Investment Insights
Based on property information with market context.
This apartment property contains five units within a 2,400-square-foot building constructed in 1915. Window/wall units provide the stated interior cooling feature, and the site includes an adjacent parcel that expands the overall assemblage to approximately 0.40 acres. The property occupies a corner at S Ridgewood Ave and Cedar St in Daytona Beach, with frontage along an interstate service road and a paved road. Halifax River, the downtown core, and the beachside corridor are described as being within walking distance. Downtown zoning allows up to 40 units per acre, while the combined site has been identified for a potential 12–16-unit redevelopment concept, subject to verification with the City of Daytona Beach Planning Division.
Key Highlights
- Five‑unit apartment property with a 2,400 SF building
- Adjacent parcel creates an approximately 0.40‑acre combined site
- Corner location at S Ridgewood Ave and Cedar St
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,288
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,760
$365.8K
Cap Rate 7%
$261,257
$261.3K
Cap Rate 9%
$203,200
$203.2K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$37.2K $15.48/SF
− Vacancy
−$3.9K −$1.63/SF
EGI
$33.3K $13.85/SF
− OpEx
−$15.0K −$6.23/SF
NOI
$18.3K $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%
$365,760
Cap Rate 7%
$261,257
Cap Rate 9%
$203,200
Alternative Uses
Best Use
Apartment 5plus
$261.3K
$228.6K – $304.8K
NOI $18,288 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$707.7K
$619.2K – $825.6K
NOI $49,536 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
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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
$174,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Daytona Beach, FL
Properties on Market for Apartment buildings in Daytona Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Corner property includes an adjacent parcel within Downtown zoning and sits near Daytona Beach’s downtown and beachside corridors.
Where is this apartment building located?
The property is located at 610 S 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: Five‑unit apartment property with a 2,400 SF building; Adjacent parcel creates an approximately 0.40‑acre combined site; Corner location at S Ridgewood Ave and Cedar St
