5901 Ridgewood AvePort Orange, FL 32127

Property Details for 5901 Ridgewood Ave

Year built

1946

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.12 AC

Property size (Sq ft)

2,180 SF

Zone code

B4

Property type

Retail properties

Property subtype

Turn key restaurants

APN

6314-03-14-0160

APU

631403140160

Description

This exceptional investment property, located at 5901 S Ridgewood Avenue in Port Orange, Florida (zip code 32127), presents a rare opportunity. Built in 1946, this special purpose property boasts a highly productive income stream from a restaurant lease (with a minimum of three years remaining) and a residential building. The property sits on a busy corner lot at a four-way traffic light intersection on US Highway 1 (Ridgewood Avenue), ensuring high visibility and accessibility. Ample parking is available on-site and on the adjacent Palm Avenue. The restaurant building has undergone significant renovations, including a new roof, HVAC system, plumbing, and electrical panels. The residential building, currently configured as a single-family residence, also features a new roof, HVAC system, plumbing, and electrical upgrades and could easily be converted back into a duplex. This property offers excellent income potential and is ideal for a 1031 exchange. The asking price is $850,000. Don't miss this chance to acquire a well-maintained, high-return investment in a prime Port Orange location. The property's location offers exceptional visibility and accessibility, making it an attractive investment for both short-term and long-term growth.

• CAP approach

  CAP return

  Valuation

  6%

  $761,409

  6.5%

  $702,839

  7%

  $652,636

• Comparable approach

  Method

  Valuation

  Relative Method

  $943,414

  Geo Method

  $613,251

• Alternative Use

  Use

  Valuation

  Residential

  $592,871

  Hospitality

  $543,066

  Educational

  $451,825

  Medical

  $467,364

  Retail

  $702,839

Location Insight

City

Port Orange

County

Volusia

State

Florida

Latitude

29.1079

Longitude

-80.9728

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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