Prime Commercial Land
1092 S RIDGEWOOD AVENUE Edgewater, FL 32132
1092 S RIDGEWOOD AVENUE, Edgewater, FL, 32132
$1,350,000
For Sale
$1,350,000
1.53 acres with 264 ft frontage on US1.
Property Size7,435 SF
Lot Size1.53 Acres
Price / SF$181.57
Days on Market724
Property Features for 1092 S RIDGEWOOD AVENUE
General Information
- Standard status
- Active
- Size
- 7,435 SF
- Lot size
- 1.53 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1961
Listing Agency
COLLADO REAL ESTATE
(386) 401-8008
Listed by
Ignacio Barsottelli · License #3428688
(386) 401-8008
Source
Exitrealty
Added: Jul 25, 2024 Checked: Jul 17 at 3:56 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLLADO REAL ESTATE
Investment Insights
Based on property information with market context.
This commercial property consists of 1.53 acres and features 264 feet of frontage. The property currently generates over $145,000 annually from tenants and operates as a mechanic shop with automotive sales, and includes mobile homes at the rear. Located at the entrance of a busy YMCA, the property benefits from high traffic. The land offers potential for redevelopment and expansion of commercial usage. The site is ideal for development, with potential for two drive-through establishments and ample parking. It is also suitable for major retail or medical industry use, given its proximity to the YMCA, Taco Bell, Little Caesars, and Chick-fil-A. The property is adjacent to a municipal park. A retention pond can be added to the back to comply with retention requirements if the property is expanded. The property is located within the Community Redevelopment Area (CRA), which provides opportunities for incentives and support for redevelopment projects. The property is located 1 hour from Orlando International Airport and 2 miles from New Smyrna Beach.
Key Highlights
- 1.53 Acres with 264 ft Frontage on US1 in a Prime Commercial Location
- Generates over $145,000 Annually from Existing Tenants
- Excellent Potential for Two Drive‑Through Establishments and Ample Parking
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.5k | $15.00 |
| − Vacancy | −$11.5k | −$1.55 |
| EGI | $100.0k | $13.46 |
| − OpEx | −$30.0k | −$4.04 |
| NOI | $70.0k | $9.42 |
7,435 SF · lease $15.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.00M
$875.3K – $1.17M
NOI $70,027 @ 7.0% cap · market cap 5.19%
Second Best
Industrial
$632.3K
$553.3K – $737.7K
NOI $44,264 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,458 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
tropical auto air
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Apex Windshield Repair — 103 Virginia St, Edgewater, FL 32132
- D. Day's Lawn and Garden Equipment LLC — 1731 Fern Palm Dr, Edgewater, FL 32132
- Tom Costa Auto Repair — 1730 Fern Palm Dr, Edgewater, FL 32132
- Jiffy Lube — 91 Indian River Blvd W, Edgewater, FL 32132
- Mechanics In Edgewater Fl — 1722 hibiscus dr, edgewater, fl 32132
FAQs
What type of property is this?
Auto shop - 1.53 acres with 264 ft frontage on US1.
Where is this auto shop located?
The property is located at 1092 S RIDGEWOOD AVENUE Edgewater, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1.53 Acres with 264 ft Frontage on US1 in a Prime Commercial Location; Generates over $145,000 Annually from Existing Tenants; Excellent Potential for Two Drive‑Through Establishments and Ample Parking
