Corner Commercial Property with
For Sale
Contact for pricing
3090 S Ridgewood Avenue, South Daytona, FL 32119
Two-story commercial building with pool and ample parking.
Property Size10,500 SF
Price / SF$163.33
Days on Market827
Property Features for 3090 S Ridgewood Avenue
General Information
Standard status
Active
Size
10,500 SF
Property subtype
Business for Sale, Special Purpose, Retail, Industrial, Office, Land
Occupancy
100%
Building Details
Year Built
2007
Listing Agency:
Purucker Real Estate
(386) 235-8190
Listed By:
Dayanis Purucker · License #3366027
Source:
Crexi
Added: May 7, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:33AM
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 Purucker Real Estate
Investment Insights
Based on property information with market context.
This two-story concrete commercial building is situated on a busy corner in a thriving district. The property features an open-concept layout, generous windows, and an elevator. A lofted area on the second floor provides additional workspace or storage. The property includes a gated deck and a 4.5-ft deep pool. There are 23 concrete parking spaces in front, with additional parking available on surrounding streets. The location offers proximity to local shops, restaurants, and entertainment, and is a short drive from the beach. The sale includes the land and building. The property's adaptable design and high-traffic setting make it suitable for investors, entrepreneurs, or established enterprises. The property size is 10500 square feet.
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
$157,343
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
9.17%
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%
$3,146,860
$3.1M
Cap Rate 7%
$2,247,757
$2.2M
Cap Rate 9%
$1,748,256
$1.7M
Market Conditions
NOI Build-Up for 10,500 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
$226.8K $21.60/SF
− Vacancy
−$17.0K −$1.62/SF
EGI
$209.8K $19.98/SF
− OpEx
−$52.4K −$5.00/SF
NOI
$157.3K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$3,146,860
Cap Rate 7%
$2,247,757
Cap Rate 9%
$1,748,256
Alternative Uses
Best Use
Office B
$2.25M
$1.97M – $2.62M
NOI $157,343 @ 7.0% cap · market cap 9.17%
Second Best
Mixed Use
$1.85M
$1.62M – $2.16M
NOI $129,701 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,720 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 32119, FL
22,498
Population
12,629
Households
1.8
Avg Household Size
50
Median Age
27%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,884
Density / Sq Mi
$53,795
Median Household Income
$37,675
Median Earnings
$1,371
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story commercial building with pool and ample parking.
Where is this mixed-use property located?
The property is located at 3090 S Ridgewood Avenue South Daytona, FL.
What is the asking price?
The asking price for this property is $1,715,000.
