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    404 S Ridgewood Ave Daytona Beach, FL 32114

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    Sponsored
    For Sale
    $1,675,000

    Multi-Family 5+ - DAYTONA BEACH, FL

    Property size:
    16,021 SF
    Lot size:
    0.87 Acres
    Days on Market:
    25
    Last Refresh:
    Mar 26 at 2:06 am

    Property Features for 404 S Ridgewood Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Fire Alarm, Fire Sprinkler System
    Zoning
    02T2
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    309
    APN
    5339-01-17-0062
    Parking features
    Guest
    Interior features
    Ceiling Fans(s), High Ceilings, Vaulted Ceiling(s)
    Exterior features
    Corner Lot
    Fireplace
    1
    Appliances
    Cooktop, Dishwasher, Dryer, Garbage Disposer, Washer
    Size
    16,021 SF
    Lot size
    0.87 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Attic Fan, Central Air

    Building Details

    Year built
    1901
    Number of units
    30
    Flooring type
    Tile, Wood
    Building materials
    Brick, Frame, Vinyl Siding, Wood Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Daniel Lyonnais
    Daniel Lyonnais

    Adams, Cameron & Co. Realtors

    Listing agent Daniel Lyonnais License #3196672

    Listing date Mar 1, 2026

    MLS# V4943079 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Daytona Beach Multi-Family Portfolio

    This portfolio includes five parcels: an 8,000 square foot fully renovated historic Victorian home, a 7,000 square foot co-living property, a 1,021 square foot house, plus three adjacent land parcels in Daytona Beach, Florida. The homes are strategically located with 164 feet of prime frontage on US-1, minutes away from the beach, the Intercoastal Waterway, and major attractions. The centerpiece of this portfolio is the Victorian home, listed on the U.S. National Register of Historic Places. It boasts 10 uniquely decorated bedrooms, 5 full bathrooms, and two basement apartments. The current lease with Pad Split runs through July 2025. The third property of the portfolio is an adjacent 1,021 square foot house with 4 bedrooms and 1 bathroom, fully renovated with new bathroom/shower, plumbing and General Electric upgrades. All three properties benefit from recent leases with Pad Split. The three land parcels adjacent to the homes make up a total of 0.51 acres. These land parcels are zone T -2 which allows for a wide variety of uses. The total lot size is 0.87 acres and the property size is 16,021 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.019907
    Latitude
    29.204527

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    FAQs

    What type of property is this?
    Apartment building - Portfolio includes renovated historic home, co-living property, house, and land.
    Where is this apartment building located?
    The property is located at 404 S Ridgewood Ave Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $1,675,000.
    What are key features of this property?
    This property features: - Turnkey rented portfolio generating income below market price, including furniture and fixtures.; - Portfolio includes 5 parcels: an **8,000 SF historic Victorian home**, a 7,000 SF co-living property, a 1,021 SF house, and 3 contiguous buildable lots.; - **Prime location with 164 feet of frontage on US-1 in Daytona Beach**, minutes from the beach and Intercoastal Waterway.
    (386) 852-7932
    Request Owner's contact information
    404 S Ridgewood Ave Daytona Beach, FL 32114
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    Daytona Beach, FL 32114
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    404 S Ridgewood Ave Daytona Beach, FL 32114
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    We can help!
    Listing Contact
    Daniel Lyonnais
    Daniel Lyonnais
    Real Estate License ID: 3196672
    Learn More
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