328 Ridgewood AVE Active Save Request In-Person Tour Request Virtual Tour
Edgewater,FL 32132
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 7,800 sqft
Price per Sqft $153
MLS Listing ID 1207594
Originating Board Daytona Beach Area Association of REALTORS®
Year Built 1982
Annual Tax Amount $14,286
Lot Size 0.528 Acres
Lot Dimensions 0.53
Property Description
10.5% PRO FORMA CAP RATE
Located in the quickly growing city of Edgewater, this office/warehouse space is suitable for investors or owner users. Two separate parcels: a 0.53ac parcel with 7800sf warehouse/office space, and a 1.31ac vacant lot on a hard corner of US-1. Current building cap rate at 6.2%, with ability for year two 10.5% cap rate by optimizing rents, leasing the warehouse space, and converting to NNN leases. Owner/user would benefit from 6k square feet of office space and small bay warehouse in the rear of the building, with ability to sublet unused space to office tenants. 1.84 acres+/- w/ prime road frontage on US-1
1.3 acres adjacent land can be developed(340 RW)
B-3 Highway Commercial Zoning - Edgewater
20+ parking spaces
3 bay warehouse(1,800 SF)-currently vacant, easy to rent
2023 HVAC, gutters, and soffits - 2016 roof
Additional land parcel may be sold sepaarately
Location
State FL
County Volusia
Direction Discover the dynamic investment potential of the Daytona-Ormond Beach, FL MSA market, where the property is located. This vibrant area is a hotspot for commercial real estate investors, offering a strategic location and a thriving business environment.
Exterior
Parking Features Other
Building
Lot Description Other
Others
Senior Community No
Tax ID 7450-01-00-0210