1092 Ridgewood AveEdgewater, FL 32132

  • Retail properties
  • 3,343 SF
For Sale
$1,500,000 View listing

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
Property subtype
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
1092 Ridgewood Ave, Edgewater, Florida

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

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
$3,556
$124,000
$43,238
$167,238
-
$124,000
$43,238
$167,238

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].