2323 Ridgewood AveSouth Daytona, FL 32119

  • Retail properties
  • 2,407 SF
For Sale
$695,000 View listing

Property Details for 2323 Ridgewood Ave

Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.66 AC
Property size (Sq ft)
2,407 SF
Zone code
BA
Property type
Retail properties
Property subtype
Grocery and convenience stores
APN
5344-12-00-0400
APU
534412000400

Description

This exceptional South Daytona, Florida commercial property presents a lucrative investment opportunity. Located at 2323 S Ridgewood Avenue, this 2,407 square foot retail building sits on a prominent corner lot with high visibility and exceptional traffic counts, boasting 28,500 AADT. Currently operating as a convenience store under a triple net (NNN) lease extending until 2035, this property offers immediate income potential. The building, constructed in 1962, is ideally situated across from Publix and Sunshine Park Mall, ensuring consistent customer flow. The property's zoning allows for a variety of uses, including restaurants, retail shops, or offices, providing flexibility for future development. The asking price is $695,000. This is a turnkey operation with a long-term lease, making it an attractive investment for those seeking a stable, income-generating asset. Note that gas stations and automotive uses are prohibited per the lease agreement. The property is situated in Volusia County, Florida, zip code 32119. This prime location offers significant potential for growth and return on investment. The property is offered as-is. Serious inquiries only.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $791,862
    6.5%
    $730,950
    7%
    $678,739
  • Comparable approach

    Method
    Valuation
    Relative Method
    $968,985
    Geo Method
    $677,107
  • Alternative Use

    Use
    Valuation
    Residential
    $616,583
    Hospitality
    $564,787
    Educational
    $469,896
    Medical
    $486,057
    Retail
    $730,950
2323 Ridgewood Ave, South Daytona, Florida

Location Insight

City
South Daytona
County
Volusia
State
Florida
Latitude
29.168
Longitude
-80.9995
CBSA code
19660
CBSA name
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$4,395
$206,640
$12,329
$218,969
-
$206,640
$12,329
$218,969

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