2323 Ridgewood AveSouth Daytona, FL 32119

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

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.

• CAP approach

  CAP return

  Valuation

  6%

  $608,661

  6.5%

  $561,841

  7%

  $521,710

• Comparable approach

  Method

  Valuation

  Relative Method

  $399,898

  Geo Method

  $279,441

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,087,100

  Mixed-Use / Specialty

  $563,292

  Hospitality / Lodging

  $417,767

  Office

  $563,544

  Institutional / Educational

  $586,832

  Residential Income

  $686,593

  Multifamily

  $804,313

  Automotive / Energy

  $502,999

  Parking / Income-Based Land

  $170,166

  Restaurant / Food Service

  $300,345

  Healthcare / Senior Housing

  $574,104

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

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