Waterfront Commercial Property on Sunset
For Sale
Contact for pricing
6292 S Ridgewood Avenue, Port Orange, FL 32127
High and dry waterfront property with commercial zoning and residential units.
Property Size4,852 SF
Lot Size1.00 Acre
Price / SF$247.32
Days on Market775
Property Features for 6292 S Ridgewood Avenue
General Information
Standard status
Active
Size
4,852 SF
Lot size
1.00 Acre
Property subtype
Mixed Use, Retail, Multifamily
Building Details
Year Built
1920
Stories
1
Listing Agency:
Land And Sea Realty
Listed By:
Gwendolyn Schwoerer · License #BK685966
(386) 314-8509
Source:
Crexi
Added: Sep 3, 2024
Changed: Oct 8
Last Checked: Oct 16 at 6:18AM
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 Land And Sea Realty
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Investment Insights
Based on property information with market context.
This waterfront property, approximately 1 acre in size, is located on Sunset Island in the Spruce Creek Preserve, bordered by Strickland Bay and state-owned lands. Zoned B7 Commercial Marina, the property offers potential uses such as a marina, restaurant, hotel, fishing lodge, bed and breakfast, and watercraft rentals. It features approximately 250 feet of frontage on US1/Ridgewood, with a dedicated turn lane from the north and a crossover from the south. The property includes two grandfathered-in residential units: a 2-bedroom, 2-bathroom home and a 1-bedroom, 1-bathroom apartment rebuilt in 2015. Additionally, there is a commercial building of approximately 1700 square feet, a storage and laundry building, and a separate garage. Two septic systems have been updated in recent years. With over 275 feet of water frontage, the property is situated at the headwaters of Spruce Creek, providing access to Turnbull Bay. It is also located on the Florida Trail, a canoe/kayak trail developed by the state, and is part of the St Johns River to Sea route. The property size is 4852 square feet.
Key Highlights
- Waterfront property with approximately 275' of water frontage and access to Spruce Creek, Turnbull Bay, and the St Johns River to Sea route.
- Zoned B7 Commercial Marina, allowing for diverse business opportunities.
- +/- 1 acre property in the Spruce Creek Preserve, surrounded by Strickland Bay and state‑owned lands.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,934
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,198,680
$1.2M
Cap Rate 7%
$856,200
$856.2K
Cap Rate 9%
$665,933
$665.9K
Market Conditions
NOI Build-Up for 4,852 SF
Gross rent
$104.8K $21.60/SF
− Vacancy
−$8.9K −$1.84/SF
EGI
$95.9K $19.76/SF
− OpEx
−$36.0K −$7.41/SF
NOI
$59.9K $12.35/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,198,680
Cap Rate 7%
$856,200
Cap Rate 9%
$665,933
Alternative Uses
Best Use
Mixed Use
$856.2K
$749.2K – $998.9K
NOI $59,934 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,145 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - High and dry waterfront property with commercial zoning and residential units.
Where is this mixed-use property located?
The property is located at 6292 S Ridgewood Avenue Port Orange, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Waterfront property with approximately 275' of water frontage and access to Spruce Creek, Turnbull Bay, and the St Johns River to Sea route.; Zoned B7 Commercial Marina, allowing for diverse business opportunities.; +/- 1 acre property in the Spruce Creek Preserve, surrounded by Strickland Bay and state‑owned lands.
