Renovated Apartment Building with Five
For Sale
$1,500,000
934 S Ridgewood Ave, Daytona Beach, FL 32114
Historic property offers a flexible bedroom layout, private baths, and updated building systems.
Property Size9,012 SF
Price / SF$166.44
Days on Market27
Property Features for 934 S Ridgewood Ave
General Information
Standard status
Active
Size
9,012 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1910
Listing Agency:
ADAMS, CAMERON & CO., REALTORS
(386) 258-5500
Listed By:
Ashlee Selman · License #3511847
Source:
Livewelltampabay
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 28 at 1:04PM
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 ADAMS, CAMERON & CO., REALTORS
Investment Insights
Based on property information with market context.
Built in 1910, this 9,012-square-foot apartment property combines a 25-bedroom configuration with five independent apartments. Many bedrooms include private baths, creating a flexible layout for multifamily and shared-living arrangements.
The property has undergone a comprehensive renovation that includes a new roof, new windows, and updated electrical, plumbing, and HVAC systems. Located at 934 S Ridgewood Ave in Daytona Beach, the building is one block from the redevelopment district and near the beach, retail, dining, and major thoroughfares.
The property has undergone a comprehensive renovation that includes a new roof, new windows, and updated electrical, plumbing, and HVAC systems. Located at 934 S Ridgewood Ave in Daytona Beach, the building is one block from the redevelopment district and near the beach, retail, dining, and major thoroughfares.
Key Highlights
- 9,012‑square‑foot apartment property in Daytona Beach
- 25‑bedroom configuration with many private baths
- Five fully independent apartments
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
$68,672
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
4.58%
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%
$1,373,440
$1.4M
Cap Rate 7%
$981,029
$981.0K
Cap Rate 9%
$763,022
$763.0K
Market Conditions
NOI Build-Up for 9,012 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
$139.5K $15.48/SF
− Vacancy
−$14.6K −$1.63/SF
EGI
$124.9K $13.85/SF
− OpEx
−$56.2K −$6.23/SF
NOI
$68.7K $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 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%
$1,373,440
Cap Rate 7%
$981,029
Cap Rate 9%
$763,022
Alternative Uses
Best Use
Apartment 5plus
$981.0K
$858.4K – $1.14M
NOI $68,672 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,008 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
737
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic property offers a flexible bedroom layout, private baths, and updated building systems.
Where is this apartment building located?
The property is located at 934 S Ridgewood Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 9,012‑square‑foot apartment property in Daytona Beach; 25‑bedroom configuration with many private baths; Five fully independent apartments
