228 Ridgewood AveDaytona Beach, FL 32114

Property Details for 228 Ridgewood Ave

Year built

1957

Construction

CONCRETE

Lot size

1.06 AC

Property size (Sq ft)

20,823 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

5339-02-53-0071

APU

533902530071

Description

This exceptional mixed-use property, located at 228 N Ridgewood Ave in Daytona Beach, Florida, presents a prime investment opportunity. The 20,822 square foot building, constructed in 1957 and extensively renovated in 2024, is currently vacant and ready for immediate occupancy. Its versatile design allows for a variety of uses, including medical office, storefront retail, and traditional office space. The property boasts a two-story building situated on a high-visibility location in a rapidly growing area of Daytona Beach. Ample parking is available, ensuring convenience for tenants and customers. The asking price is $1,999,750, translating to $96.04 per square foot. Daytona Beach's thriving economy, fueled by tourism and ongoing development projects, promises strong rental potential and a high return on investment. The property's zoning allows for flexible development options, offering further expansion or redevelopment opportunities. Its proximity to hotels, beaches, retail centers, and apartments enhances customer foot traffic and visibility. This is an ideal investment for those seeking to capitalize on the burgeoning commercial landscape of Daytona Beach. The property offers a unique blend of established infrastructure and significant growth potential, making it a compelling investment opportunity in a dynamic market. This is a rare chance to own a strategically positioned commercial property in a high-growth area.

• CAP approach

  CAP return

  Valuation

  6%

  $5,420,016

  6.5%

  $5,003,092

  7%

  $4,645,728

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,761,643

  Geo Method

  $3,602,931

• Alternative Use

  Use

  Valuation

  Residential

  $5,003,092

  Hospitality

  $4,582,805

  Educational

  $3,812,840

  Medical

  $3,943,970

  Retail

  $5,931,084

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2134

Longitude

-81.0252

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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