801 Ridgewood AveDaytona Beach, FL 32117

This 38-unit motel in Holly Hill, Florida, presents a compelling investment opportunity. Boasting a remarkable 93% occupancy rate and generating a $600,000 Net Operating Income (NOI), this property offers a strong 13.33% capitalization rate. The asking price is $4,500,000. Built in 1958 and situated on a 1.68-acre lot, the property is zoned CC-1, allowing for diverse uses including adult living facilities. The motel comprises 29 two-bed units, 6 one-bed units, 2 two-bedroom units, a studio, and an office, providing flexibility for future development. Recent upgrades include fresh paint, new washers and dryers, landscaping (all in 2023), and brand-new roofs (2018). Essential amenities include Wi-Fi, HBO/Cinemax subscriptions, updated electrical lines, and new TVs. All furniture, fixtures, and equipment (FF&E) are included. The current on-site manager is willing to remain post-sale. The property enjoys a convenient location within 15 minutes of I-95, Daytona International Speedway, Historic Daytona Beach, and Daytona International Airport. Seller financing may be available for a portion of the purchase price. This turnkey operation offers a hassle-free entry into the thriving Daytona Beach hospitality market with significant potential for future growth and returns. The property's strong performance and versatile zoning make it an exceptional investment prospect.