Value Add Office Income With Additional Land - Edgewater

For Sale

328 North Ridgewood Avenue, Edgewater, FL 32132

This Edgewater property for sale is located at 328 North Ridgewood Avenue. The general use of Value Add Office Income With Additional Land - Edgewater is office and it incorporates 7,800 square feet of class B office space. The current listed sale price for Value Add Office Income With Additional Land - Edgewater is $1,200,000. Value Add Office Income With Additional Land - Edgewater is situated on a lot that is 1.84 acre in size.

Contacts

broker
Mark Ascik

SVN | Alliance Commercial Real Estate Advisors

Property Details

  • Property Type Office - General Office
  • Property Size 7,800 SF
  • Lot Size 1.84 Acre
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Date Updated Jan 17, 2025
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.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.
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • 1.84 acres+/- w/ 360'+ 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

Getting around

  • 48/100

    Walk Score ®

  • 60/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Edgewater, FL
  • Neighborhood Edgewater
  • Zip Code 32132
  • Market North Central Florida

Points of Interest

  • Shell

    0.60 miles

  • Murphy USA

    3.39 miles

  • Circle K

    3.61 miles

  • BP

    4.85 miles

  • Chevron

    4.98 miles

  • RaceTrac

    5.18 miles

  • Mobil

    8.83 miles

  • Lot 1

    6.52 miles

  • All Suite Motel

    0.06 miles

  • Black Dolphin Inn

    1.39 miles

  • Best Western Edgewater Inn

    1.90 miles

  • Anchor Inn

    2.12 miles

  • Ocean Trillium Suites

    2.13 miles

  • Ocean Eleven Suites

    2.30 miles

  • Sunisands Beach Club

    2.31 miles

  • Hacienda del Sol II

    2.39 miles

  • Best Western New Smyrna Beach Hotel & Suites

    2.45 miles

  • Buena Vista Inn

    2.70 miles

  • Perrine's Produce

    1.42 miles

  • Bealls Outlet

    2.06 miles

  • Winn-Dixie

    2.08 miles

  • ALDI

    2.08 miles

  • Publix

    2.25 miles

  • Big Lots

    2.43 miles

  • Walmart

    5.10 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Mark Ascik

SVN | Alliance Commercial Real Estate Advisors

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.