About 328 N Ridgewood Avenue
8.5% PRO FORMA CAP RATE Located in the quickly growing city of Edgewater, this office/warehouse space is suitable for investors or owner users. 0.53ac parcel with 7800sf warehouse/office space on busy US-1. Current owner converting renewing tenants to NNN leases. Ability for year two 8.5% cap rate by optimizing rents, leasing the owner-occupied warehouse and office space, and converting additional tenants 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
Features of 328 N Ridgewood Avenue
| MLS® # | 1207594 |
|---|---|
| Price | $1,200,000 |
| Acres | 0.53 |
| Year Built | 1982 |
| Type | Commercial Sale |
| Sub-Type | Office |
| Status | Active |
Community Information
| Address | 328 N Ridgewood Avenue |
|---|---|
| Area | 80 - Edgewater |
| City | Edgewater |
| County | Volusia |
| State | FL |
| Zip Code | 32132 |
Amenities
| Parking | Other |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|
Exterior
| Lot Description | Other |
|---|
Listing Details
| Office | SVN Alliance Commercial Real Estate Advisors |
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