Office/Warehouse Space in
For Sale
$415,000
702 W PARK Ave A1, Edgewater, FL 32132
1600 SF office/warehouse combo, minutes from I-95 and US-1.
Property Size800 SF
Price / SF$259.38
Days on Market112
Property Features for 702 W PARK Ave A1
General Information
Standard status
Active
Size
800 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$1,825
Building Details
Building Size
800 SF
Year Built
1985
Listing Agency:
WHITE WHALE REAL ESTATE
(386) 689-5171
Listed By:
Christopher Schwarz
(386) 689-5171
Source:
Elliman
Added: Apr 24
Changed: Aug 7
Last Checked: Aug 12 at 5:29AM
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 WHITE WHALE REAL ESTATE
Investment Insights
Based on property information with market context.
This 1,600 sq ft office/warehouse combo in Edgewater offers functionality and a convenient location. Situated minutes from I-95 and US-1, near the Edgewater Airport (Massey Ranch) and a major industrial park, this property is ideally positioned for service-based or logistics operations. The building features 800 sq ft of clean office space with two private offices and two separate restrooms, along with 800 sq ft of warehouse space with high ceilings and a built-in mezzanine for extra storage. The flexible layout is ideal for contractors, distribution, creative trades, or light assembly. It is a well-maintained, functional space with proximity to key transportation routes and industrial partners in the heart of Edgewater’s business corridor. Automotive, painting, and furniture-related businesses are not permitted. The bike score is 55, indicating it is bikeable, and the walk score is 15, indicating car dependence.
Key Highlights
- Prime location minutes from I‑95 and US‑1, near Edgewater Airport and a major industrial park.
- Office/warehouse combo with 800 sq ft of office space and 800 sq ft of warehouse space.
- Functional layout suitable for contractors, distribution, creative trades, or light assembly.
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
$18,042
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
4.35%
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%
$360,840
$360.8K
Cap Rate 7%
$257,743
$257.7K
Cap Rate 9%
$200,467
$200.5K
Market Conditions
NOI Build-Up for 1,600 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
$30.3K $18.96/SF
− Vacancy
−$2.6K −$1.61/SF
EGI
$27.8K $17.35/SF
− OpEx
−$9.7K −$6.07/SF
NOI
$18.0K $11.28/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$360,840
Cap Rate 7%
$257,743
Cap Rate 9%
$200,467
Alternative Uses
Best Use
Flex RnD
$257.7K
$225.5K – $300.7K
NOI $18,042 @ 7.0% cap · market cap 4.35%
Second Best
Warehouse
$183.8K
$160.9K – $214.5K
NOI $12,868 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$471.8K
$412.8K – $550.4K
NOI $33,024 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32132, FL
8,189
Population
4,266
Households
1.9
Avg Household Size
52
Median Age
19%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
1,170
Density / Sq Mi
$53,860
Median Household Income
$34,816
Median Earnings
$1,316
Median Rent
$234,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 1600 SF office/warehouse combo, minutes from I-95 and US-1.
Where is this flex space located?
The property is located at 702 W PARK Ave A1 Edgewater, FL.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Prime location minutes from I‑95 and US‑1, near Edgewater Airport and a major industrial park.; Office/warehouse combo with 800 sq ft of office space and 800 sq ft of warehouse space.; Functional layout suitable for contractors, distribution, creative trades, or light assembly.
