For Sale
$3,400,000

1305 Ridgewood AveDaytona Beach, FL 32114

High-Yield Motel, 29 Keys, Great Location

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 29-key motel in Daytona Beach, Florida, presents a compelling investment opportunity. Boasting 14,000 square feet on a prime location just minutes from the Halifax River, this property currently operates as an extended-stay motel, commanding weekly rental rates between $400 and $450 per room. The property generates substantial revenue, with an annual gross revenue approaching $600,000 and a net operating income (NOI) exceeding $450,000. This translates to an attractive cap rate of 13.24% and a price per square foot of $242.86. The asking price for this lucrative asset is $3,400,000. A significant advantage is the inclusion of an additional acre lot, providing potential for future expansion and development of additional units, further enhancing the property's value and income potential. The property is situated at 1305 S Ridgewood Ave, Daytona Beach, FL 32114, in Volusia County. This is a rare chance to acquire a high-performing motel with significant upside potential in a desirable tourist destination.

Highlights

  • 29-key extended-stay motel in Daytona Beach, FL, generating nearly $600,000 in annual gross revenue.
  • Prime location minutes from the Halifax River, offering weekly rates of $400-$450 per room.
  • Strong financial performance with over $450,000 NOI and a 13.24% cap rate.
  • Asking price: $3,400,000 ($242.86/SF); includes an additional acre lot for future expansion.
  • Located at 1305 S Ridgewood Ave, Daytona Beach, FL 32114.

Property Details for 1305 Ridgewood Ave

Property type
Hospitality properties, Motels
Square Feet
14,000 SF

Location Insight

City
Daytona Beach
County
Volusia
State
Florida
Latitude
29.188337986679
Longitude
-81.010664785997
1305 Ridgewood Ave, Daytona Beach, Florida

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1305 Ridgewood Ave
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