Daytona Beach Remodeled Mixed-Use
For Sale
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1020 S Ridgewood Avenue, Daytona Beach, FL 32114
Remodeled mixed-use property in Daytona Beach, close to amenities.
Property Size6,210 SF
Price / SF$370.37
Days on Market1544
Property Features for 1020 S Ridgewood Avenue
General Information
Standard status
Active
Size
6,210 SF
Property subtype
Hospitality, Mixed Use, Special Purpose
Building Details
Year Built
1953
Listing Agency:
Realty Pros Commercial Division
(386) 237-4444
Listed By:
Terry Sitaram · License #3092297
Source:
Crexi
Added: Jun 8, 2022
Changed: Aug 17
Last Checked: Aug 29 at 4:03AM
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 Realty Pros Commercial Division
Investment Insights
Based on property information with market context.
This remodeled mixed-use property is located in Daytona Beach, Florida. The property has undergone significant upgrades, including over $100,000 in renovations to the manager's living quarters. The property features 17 upgraded bedrooms. Situated in an opportunity zone, this property offers potential tax savings. It is located steps away from the river and close to the ocean. The property is near public transportation, doctor's offices, shopping, and downtown Daytona. The building has a total size of 6,210 square feet. According to the Volusia property appraiser website, all measurements are approximate. The property is rented almost full all year around.
Key Highlights
- Fully remodeled and upgraded manager's living space with over $100k in upgrades.
- 17 upgraded bedrooms.
- Located in an opportunity zone, offering potential tax savings.
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
$76,709
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
3.34%
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%
$1,534,180
$1.5M
Cap Rate 7%
$1,095,843
$1.1M
Cap Rate 9%
$852,322
$852.3K
Market Conditions
NOI Build-Up for 6,210 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
$134.1K $21.60/SF
− Vacancy
−$11.4K −$1.84/SF
EGI
$122.7K $19.76/SF
− OpEx
−$46.0K −$7.41/SF
NOI
$76.7K $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 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%
$1,534,180
Cap Rate 7%
$1,095,843
Cap Rate 9%
$852,322
Alternative Uses
Best Use
Mixed Use
$1.10M
$958.9K – $1.28M
NOI $76,709 @ 7.0% cap · market cap 3.34%
Second Best
Hotel Hospitality
$318.6K
$278.8K – $371.7K
NOI $22,300 @ 7.0% cap · market cap 0.97%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,174 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
726
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hospitality property - Remodeled mixed-use property in Daytona Beach, close to amenities.
Where is this hospitality property located?
The property is located at 1020 S Ridgewood Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Fully remodeled and upgraded manager's living space with over $100k in upgrades.; 17 upgraded bedrooms.; Located in an opportunity zone, offering potential tax savings.
