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    Property profile & analytics

    708 Park Ave Edgewater, FL 32132

    • Warehouses
    • 4,000 SF
    • 0.64 lot acres
    For Sale
    View listing
    $639,000
    Last Sale
    Oct 21, 2020
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2804850
    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

    • On-Site Mobile Oil Change / Oil Change Service

    Property Details for 708 Park Ave

    Year built
    1979
    Construction
    WOOD
    Lot size
    0.64 lot acres
    Property size
    4,000 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    7452-01-00-037A
    APU
    74520100037A

    Description

    This exceptional investment opportunity presents a 4,000 square foot industrial building situated on a 0.64-acre lot at 708 W Park Avenue in Edgewater, Florida. The property boasts a highly desirable location on a main avenue between Edgewater and New Smyrna Beach, offering excellent visibility and accessibility. The metal building is currently divided into five rentable spaces: three 800 square foot units, one 1,000 square foot unit, and one 600 square foot unit. Each space features its own overhead door for convenient access. The property also includes eight fenced areas, each currently renting for $100 per month. Six of these areas are currently occupied, with one utilized by the property's landscaper. This translates to a strong current rental income stream. The property's industrial zoning allows for potential expansion, maximizing future value and revenue generation. With a 7.45% capitalization rate, this property represents a compelling investment opportunity with significant upside potential in a high-growth area. Don't miss this chance to acquire a well-positioned, income-producing asset. The asking price is $639,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $235,000
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $317,000
      Market price range: $233k - $626k

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

    Location Insight

    • Map
    • Local Demand
    City
    Edgewater
    County
    Volusia
    State
    Florida
    Longitude
    -80.9177
    Latitude
    28.9873
    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
    $4,480
    $55,956
    $189,453
    $245,409
    -
    $55,956
    $189,453
    $245,409

    Comparable in this City

    • Value Estimation
      $625,000
      6,076 SF

      118 Mockingbird Ln

      WAREHOUSE, STORAGE • 6,076 SF
      118 Mockingbird Ln, Edgewater, FL 32132-1562
      View Details
    • Value Estimation by Request
      9,835 SF

      1701 Ridgewood Ave

      WAREHOUSE, STORAGE • 9,835 SF
      1701 Ridgewood Ave, Edgewater, FL 32132-3655
      View Details
    • Value Estimation
      $765,000
      7,770 SF

      129 Marion Ave

      WAREHOUSE, STORAGE • 7,770 SF
      129 Marion Ave, Edgewater, FL 32132-3568
      View Details
    • Value Estimation
      $350,000
      3,600 SF

      702 Park Ave E E Ste

      WAREHOUSE, STORAGE • 3,600 SF
      702 Park Ave E E Ste, Edgewater, FL 32132-1411
      View Details
    • Value Estimation
      $145,000
      1,600 SF

      706 Park Ave Ste I

      WAREHOUSE, STORAGE • 1,600 SF
      706 Park Ave Ste I, Edgewater, FL 32132-1410
      View Details
    • Value Estimation
      $305,000
      1,836 SF

      209 Parktowne Blvd

      WAREHOUSE, STORAGE • 1,836 SF
      209 Parktowne Blvd, Edgewater, FL 32132-1478
      View Details

    Similar Nearby for Sale

    • $1,700,000

      New Industrial Building with Customization

      Pre-construction 14,080 sq ft industrial building with customization options.
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    • $639,000
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      Edgewater Warehouse Investment

      High-return industrial property in FL.
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    • $1,200,000
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      Edgewater Office/Warehouse Investment Opportunity

      Office/warehouse space in Edgewater, suitable for investors or owner-users.
      328 North Ridgewood Ave, Edgewater, FL 32132
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    • $1,700,000
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      Edgewater Industrial Building - For Sale

      New Construction, 14,080 sq ft, Prime Location
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    • $639,000
      4,000 SF

      Edgewater Industrial Property: High ROI

      Prime location, high-growth area, strong rental income.
      708 Park Ave, Edgewater, FL 32132
      View Details

    Similar Nearby for Lease

    • $13,200 /Mo

      Spacious Light Industrial Bay

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    • $5,000 /Mo
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    • $2,500 /Mo
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      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
    • $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
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    • $90,000
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      Edgewater Industrial Flex Space

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      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
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    708 Park Ave
    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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