1234 Ridgewood AveDaytona Beach, FL 32114

Property Details for 1234 Ridgewood Ave

Year built

1954

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.23 AC

Property size (Sq ft)

4,305 SF

Zone code

T2

Property type

Motels

APN

5340-05-03-0120

APU

534005030120

Description

This exceptional investment opportunity presents a well-maintained, 24-key motel situated on a busy section of US1 in Daytona Beach, Florida. The Sunshine Inn boasts a total of 9,346 square feet across two single-story buildings on a spacious 53,676 square foot lot. Built in 1954, the property includes 24 guest rooms and a substantial owner's quarters. Recent improvements include roofs that are less than two years old, eliminating immediate deferred maintenance concerns. The property is offered at $1,900,000, representing a price per square foot of $203.30. The current Net Operating Income (NOI) is $334,518, with a pro-forma NOI of $278,262, yielding a pro-forma capitalization rate of 14.65%. This turnkey operation presents a strong cash flow and significant upside potential. The property's location and size make it an attractive candidate for potential multi-family conversion. Owner financing is available upon request. This is a rare opportunity to acquire a profitable, established motel in a high-demand tourist destination. Don't miss this chance to secure a lucrative investment in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,027,117

  6.5%

  $948,108

  7%

  $880,386

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,493,814

  Geo Method

  $1,129,333

• Alternative Use

  Use

  Valuation

  Residential

  $1,035,058

  Hospitality

  $948,108

  Educational

  $788,814

  Medical

  $815,943

  Retail

  $1,227,045

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.1893

Longitude

-81.012

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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