1305 Ridgewood Ave Daytona Beach, FL 32114

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.