1092 Ridgewood AveEdgewater, FL 32132
- Retail properties
- 3,343 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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