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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 W Park Ave Edgewater, FL 32132

    • Investment properties
    • 800 SF
    • 0.02 lot acres
    For Lease
    View listing
    $2,500 /Mo
    Last Sale
    Aug 24, 2021
    $170,000
    Value Estimations
    $175,000
    Cap Rate Potential
    5.1%
    Investment properties
    Location Intelligence
    Property ID
    US19-0879657
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotel-Pak Gold Inc / Spice Wholesaler / Food Products Supplier

    Property Details for 702 W Park Ave

    Year built
    1985
    Construction
    WOOD
    Lot size
    0.02 lot acres
    Property size
    800 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    7452-19-02-00A1
    APU
    7452190200A1

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $190,000
      ML approach
      $155,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $165,000
      6.5%
      $150,000
      7%
      $140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $161,000
      Market price range: $74.2k - $223k
      AI Estimate
      $134,000
      Market price range: $46.0k - $192k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $140,000
      Current use
      AUTO REPAIR, GARAGE
      $200,000
      Change: +41% Conversion: Difficult
      MEDICAL BUILDING
      $150,000
      Change: +5% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $145,000
      Change: +2% Conversion: Difficult
      RETAIL STORES
      $140,000
      Change: +0% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Edgewater
    County
    Volusia
    State
    Florida
    Longitude
    -80.9171
    Latitude
    28.9879
    CBSA code
    19660
    CBSA name
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,744
    $14,400
    $76,818
    $91,218
    -
    $14,400
    $76,818
    $91,218

    Comparable in this City

    • Value Estimation
      $210,000
      19,350 SF

      110 Mockingbird Ln

      STORE/OFFICE (MIXED USE) • 19,350 SF
      110 Mockingbird Ln, Edgewater, FL 32132-1545
      View Details
    • Value Estimation
      $185,000
      800 SF

      931 Ridgewood Ave Ste B1

      STORE/OFFICE (MIXED USE) • 800 SF
      931 Ridgewood Ave Ste B1, Edgewater, FL 32132-2375
      View Details
    • Value Estimation
      $240,000
      8,036 SF

      3315 State Rd 442

      STORE/OFFICE (MIXED USE) • 8,036 SF
      3315 State Rd 442, Edgewater, FL 32132
      View Details
    • Value Estimation
      $240,000
      364 SF

      202 Railroad Ave

      STORE/OFFICE (MIXED USE) • 364 SF
      202 Railroad Ave, Edgewater, FL 32132-1416
      View Details
    • Value Estimation
      $295,000
      7,800 SF

      328 Ridgewood Ave

      STORE/OFFICE (MIXED USE) • 7,800 SF
      328 Ridgewood Ave, Edgewater, FL 32132-1618
      View Details
    • Value Estimation
      $300,000
      3,451 SF

      441 Skwy Dr Ste, Unit 5

      STORE/OFFICE (MIXED USE) • 3,451 SF
      441 Skwy Dr Ste, Edgewater, FL 32132-3045
      View Details

    Similar Nearby for Sale

    • $1,450,000
      1,800 SF

      Edgewater Mixed-Use Development Land

      Prime 23.75-acre site, ideal for commercial ventures.
      Indian River Blvd, Edgewater, FL 32132
      View Details
    • $105,000

      Edgewater Commercial Land - $105K

      Prime Edgewater lot, high traffic area.
      431 Live Oak St, Edgewater, FL 32132
      View Details
    • $1,450,000

      Edgewater Commercial Land - $1.45M

      Prime 23.75-acre commercial land in Edgewater, FL.
      0 Indian River Blvd, Edgewater, FL 32132
      View Details
    • $1,450,000

      Edgewater Commercial Land - $1.45M

      Prime 23.75-acre commercial lot in Edgewater, FL.
      0 Indian River Blvd, Edgewater, FL 32132
      View Details
    • $1,350,000
      7,600 SF

      Edgewater Mixed-Use Investment

      1.53 Acres, High-Traffic Location, $145K+ Annual Income
      1092 Ridgewood Ave, Edgewater, FL 32132
      View Details
    • $625,000
      0.14 Acres

      Edgewater Commercial Property - Hwy 1

      High-traffic location, versatile commercial space.
      613 Ridgewood Ave, Edgewater, FL 32132
      View Details

    Similar Nearby for Lease

    • $90,000
      272,250 SF

      Edgewater Industrial Flex Space

      6.25 Acres, Fully Improved, I-95 Access
      421 Timaquan Trl, Edgewater, FL 32132
      View Details
    • $5,000 /Mo
      12,197 SF

      Edgewater Warehouse with Loading Dock

      Available warehouse space with roll-up door and loading dock.
      115 Whetzel St, Edgewater, FL 32132
      View Details
    • $2,500 /Mo
      800 SF

      Versatile Office/Warehouse Space Available

      1600 SF office/warehouse combo in Edgewater, minutes from I-95.
      702 W Park Ave, Edgewater, FL 32132
      View Details
    • $395 /Mo

      Office Space in Prime Location

      Office spaces available in a well-located, freestanding building.
      1001 S Ridgewood Ave, Edgewater, FL 32132
      View Details
    • $13,200 /Mo

      Spacious Light Industrial Bay

      Light industrial bay with roll-up doors and ample lighting.
      1518 Industrial Dr, Edgewater, FL 32132
      View Details
    • $3,000 /Mo
      1,600 SF

      Edgewater Office/Warehouse Space Available

      Versatile 1,600 SF office/warehouse near I-95 and US-1.
      702 W Park Ave, Edgewater, FL 32132
      View Details
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    Edgewater, FL 32132
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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