1020 Ridgewood AveDaytona Beach, FL 32114

Property Details for 1020 Ridgewood Ave

Year built

1953

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.95 AC

Property size (Sq ft)

4,536 SF

Zone code

T3

Property type

Hospitality properties

Property subtype

Motels

APN

5340-05-03-0030

APU

534005030030

Description

This exceptional 18-key motel in Daytona Beach, Florida, presents a lucrative investment opportunity. Located at 1020 S Ridgewood Ave, Volusia County, zip code 32114 (29.19303218890573, -81.01337398059071), this turnkey operation boasts a recently completed, extensive renovation and upgrade exceeding $100,000. The upgrades enhance the property's appeal and create a comfortable, home-like atmosphere for both guests and management. All 17 bedrooms have been upgraded, significantly increasing the property's value and rental potential. Situated in an Opportunity Zone, this motel offers attractive tax advantages for future investors. Its prime location offers easy access to the river, the ocean, public transportation, medical facilities, shopping, and downtown Daytona Beach. The property enjoys high occupancy rates throughout the year. All measurements are approximate, based on data from the Volusia Property Appraiser website. The asking price is $2,300,000. Potential owner financing may be available. Serious inquiries only; proof of funds is required to discuss financial details.

• CAP approach

  CAP return

  Valuation

  6%

  $1,082,111

  6.5%

  $998,872

  7%

  $927,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,573,751

  Geo Method

  $1,189,931

• Alternative Use

  Use

  Valuation

  Residential

  $1,090,478

  Hospitality

  $998,872

  Educational

  $831,049

  Medical

  $859,630

  Retail

  $1,292,744

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.1927

Longitude

-81.0142

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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