1092 Ridgewood AveEdgewater, FL 32132

Property Details for 1092 Ridgewood Ave

Year built

1970

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.67 AC

Property size (Sq ft)

3,343 SF

Property type

Retail properties

APN

7433-01-00-0320

APU

743301000320

Description

This exceptional 1.53-acre mixed-use property in Edgewater, Florida, boasts 264 feet of frontage on US1 and generates over $145,000 in annual income from existing tenants. Currently operating as a mechanic shop and automotive sales business with mobile homes, this assemblage of two parcels presents significant redevelopment potential. The high-traffic location at the entrance to the YMCA ensures a steady stream of potential customers. Its versatility allows for expansion of existing uses or complete redevelopment, ideally suited for two drive-through restaurants, major retail, or medical facilities. Ample parking is available, and the addition of a retention pond in the rear would facilitate expansion while meeting regulatory requirements. The property's proximity to popular restaurants like Taco Bell, Little Caesars, and Chick-fil-A, along with its adjacency to a municipal park, further enhances its appeal. Located just one hour from Orlando International Airport and two miles from New Smyrna Beach, this property offers unparalleled business opportunities within a thriving community. Furthermore, its location within a Community Redevelopment Area (CRA) provides access to potential incentives and support for redevelopment projects. This is a truly remarkable investment opportunity in a prime commercial location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,167,610

  6.5%

  $1,077,793

  7%

  $1,000,808

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,446,712

  Geo Method

  $940,411

• Alternative Use

  Use

  Valuation

  Residential

  $909,159

  Hospitality

  $832,785

  Educational

  $692,867

  Medical

  $716,696

  Retail

  $1,077,793

Location Insight

City

Edgewater

County

Volusia

State

Florida

Latitude

28.9819

Longitude

-80.9022

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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