5840 Ridgewood AvePort Orange, FL 32127

Property Details for 5840 Ridgewood Ave

Year built

1973

Construction

WOOD

Lot size

0.71 AC

Property size (Sq ft)

3,000 SF

Zone code

B5

Property type

Retail properties

Property subtype

Retail space

APN

6340-02-01-0120

APU

634002010120

Description

This exceptional Port Orange investment property, located on a high-traffic section of US Highway 1, presents a compelling opportunity for savvy investors. The property, which has been owned by the same family for 50 years and is now offered for sale for the first time, comprises approximately 0.9 acres and features three distinct income-producing centers, all currently leased under net-net-net (NNN) leases. Building 1, a 3,000-square-foot structure, houses a flooring business. Building 2 and the associated parking lot encompass 13,000 square feet and currently accommodate an auto dealership. Additionally, a 10,000-square-foot area is designated for RV parking. Built in 1973, this special-purpose property offers significant potential for increased income or redevelopment. The asking price is $895,000, representing an attractive cap rate of 8% or more. This property is ideally suited for a 1031 exchange, making it an even more attractive proposition for investors seeking tax-advantaged opportunities. The property's prime location and diverse income streams make it a truly exceptional investment opportunity in a thriving Florida market. The address is 5840 S Ridgewood Avenue, Port Orange, FL 32127.

• CAP approach

  CAP return

  Valuation

  6%

  $1,047,810

  6.5%

  $967,209

  7%

  $898,123

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,298,276

  Geo Method

  $843,923

• Alternative Use

  Use

  Valuation

  Residential

  $815,877

  Hospitality

  $747,339

  Educational

  $621,777

  Medical

  $643,161

  Retail

  $967,209

Location Insight

City

Port Orange

County

Volusia

State

Florida

Latitude

29.1095

Longitude

-80.9736

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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