1501 Ridgewood AveHolly Hill, FL 32117

Property Details for 1501 Ridgewood Ave

Year built

1987

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.07 AC

Property size (Sq ft)

14,492 SF

Zone code

B4

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

4242-20-04-0010

APU

424220040010

Description

This exceptional value-add opportunity presents a two-story, 14,492 square foot retail building situated at 1501 Ridgewood Ave, Daytona Beach, FL 32117, in Volusia County. Currently operating as a multi-tenant property with 25 units, this Class B building offers significant upside potential. Constructed in 1987 and renovated in 1993, the property features concrete block construction and benefits from a 2005 roof installation. The building boasts excellent visibility and signage opportunities on high-traffic US-1 (24,000 ADT), and includes solar panels to reduce operating costs. An elevator ensures ADA compliance. The first floor comprises eight separate units, while the second floor offers smaller offices with shared restrooms and a conference room. A large rear parking lot provides ample space. The asking price is $1,400,000, translating to $96.61 per square foot. This property is zoned B4 and presents an ideal investment for those seeking to increase rental income through renovations and lease adjustments. The proximity to Daytona International Speedway and the beach further enhances its appeal. Many long-standing tenants are in place, and a large electronic sign offers additional advertising potential. This is a rare opportunity to acquire a well-located, income-producing property with substantial growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,058,878

  6.5%

  $2,823,580

  7%

  $2,621,895

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,507,500

  Geo Method

  $2,507,500

• Alternative Use

  Use

  Valuation

  Residential

  $2,823,580

  Hospitality

  $2,586,384

  Educational

  $2,151,841

  Medical

  $2,225,846

  Retail

  $3,347,308

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2528

Longitude

-81.0449

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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