1855 Ridgewood AveSouth Daytona, FL 32119

Property Details for 1855 Ridgewood Ave

Year built

1957

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.11 AC

Property size (Sq ft)

6,720 SF

Zone code

BR

Property type

Hospitality properties

Property subtype

Motels

APN

5344-16-00-0442

APU

534416000442

Description

This exceptional South Daytona, Florida retail property presents a unique investment opportunity. Located at 1855 S Ridgewood Ave, in Volusia County (zip code 32119), this single-tenant building boasts 11,641 square feet of newly renovated space situated on a generous 3.5-acre lot. The property features a high-end, 7,500 square foot showroom and a 3,900 square foot warehouse area, perfectly suited for a variety of retail uses. The building is constructed of concrete block and benefits from recently upgraded features including a new 16-ton HVAC system and a roof replaced within the last year. High ceilings (14 feet) add to the spacious feel. The property also includes a recently sealed and striped parking lot with new landscaping. The existing building offers significant expansion potential, or the possibility of adding a new structure on the ample land. This turnkey property is ready for immediate occupancy and presents a compelling opportunity for a discerning buyer seeking a prime retail location in a thriving area. The property's location in South Daytona, Florida offers excellent visibility and accessibility.

• CAP approach

  CAP return

  Valuation

  6%

  $1,603,951

  6.5%

  $1,480,570

  7%

  $1,374,816

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,332,994

  Geo Method

  $1,762,861

• Alternative Use

  Use

  Valuation

  Residential

  $1,616,353

  Hospitality

  $1,480,570

  Educational

  $1,231,817

  Medical

  $1,274,181

  Retail

  $1,916,160

Location Insight

City

South Daytona

County

Volusia

State

Florida

Latitude

29.1772

Longitude

-81.0042

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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