328 N Ridgewood Ave - Office/Residential FOR SALE


Edgewater, FL 32132
$1,200,000 USD
626-201-4761
328 N Ridgewood Ave, Edgewater, FL for Sale
$1,200,000 USD
Office/Residential - FOR SALE
1/15
null | 8.5% Cap Rate

328 N Ridgewood Ave
Edgewater, FL 32132


HIGHLIGHTS

  • 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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$108 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

B-3 Highway Commercial

APN/PARCEL ID

7450-01-00-0210

ASK ABOUT THIS PROPERTY

Mark AscikSVN | Alliance Commercial Real Estate AdvisorsMore Info
626-201-4761

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Mark AscikSVN | Alliance Commercial Real Estate AdvisorsMore Info
626-201-4761

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.