Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    828 Ridgewood Ave Daytona Beach, FL 32117

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,299,000

    Hospitality property with 14 units, laundry, and high occupancy.

    Lot size:
    0.56 Acres

    Property Features for 828 Ridgewood Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.56 Acres

    Building Details

    Year built
    1946

    We can help!

    Listing Contact
    Hafid Boujidi
    Hafid Boujidi
    Source: Elliman

    Listing Agency: PROVINCE INTERNATIONAL, LLC Listing Agent: Hafid Boujidi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Income-Producing Motel Near Daytona Beach

    Located on Ridgewood Avenue in Holly Hill/Daytona Beach, the In dian Palm Motel is a hospitality property featuring 14 income-producing units. The property includes an on-site office and coin-operated laundry facilities for guests. There are 16 dedicated parking spaces available. Situated on a 0.56-acre parcel, the motel benefits from frontage and visibility along US-1. The property maintains an impressive year-round occupancy rate. Originally built in 1946, the motel has operated successfully for decades, serving both local and tourist markets. The layout and built-in amenities provide an easy-to-operate business model. The property is located 5 miles from Daytona International Speedway and less than 3 miles from the Daytona Beach shoreline. Ridgewood Avenue/US-1 is a busy commercial corridor in Volusia County, ensuring high traffic and visibility. The 0.56-acre lot offers potential for improvements, repositioning, or redevelopment. This property presents an opportunity in a growing coastal market.
    Location Intelligence

    Current Use by Public Records

    Indian Palms Motel Hotel & Motel Custom Glass Coatings ... Interior Design

    Suggested Use

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

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

    Similar Places Nearby

    Regency Inn-Daytona Beach, Ridgewood Inn, Fairview, Endlessly Queen V, Justine & Lexi's Place

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.039254
    Latitude
    29.2399131

    Nearby Similar for Sale

    • New
      $774,900
      7,172 SF

      Versatile Mixed-Use Building in Daytona

      Updated mixed-use building with retail, office, and warehouse space.
      529 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $769,999
      5,819 SF

      Daytona Beach Professional Office Building

      High-profile office building in prime Daytona Beach location.
      213 Silver Beach Ave, Daytona Beach, FL 32118
      View Details
    • $950,000
      6,300 SF

      Daytona Beach Retail/Warehouse Building

      Renovated retail and warehouse space with high visibility.
      719 N Ridgewood Ave, Daytona Beach, FL 32114
      View Details
    • $360,000
      3,300 SF

      Turnkey Pizza Restaurant in Daytona

      Fully operational pizza restaurant in Daytona Beach's entertainment district.
      615 Seabreeze Blvd, Daytona Beach, FL 32118
      View Details
    • $849,000
      6,600 SF

      Daytona Beach Shores Live-Work Property

      Live and work in this unique property near the beach.
      2020 S Atlantic Ave, Daytona Beach, FL 32118
      View Details
    • $999,000
      3,880 SF

      Daytona Beach Restaurant/Bar Opportunity

      Two-story restaurant/bar in a prime Daytona Beach location.
      415 Main St, Daytona Beach, FL 32118
      View Details
    • $900,000
      4,018 SF

      Daytona Beach Auto Repair Shop

      Auto repair shop with waterfront access in Daytona redevelopment area.
      705 N Beach St N, Daytona Beach, FL 32114
      View Details
    • $448,370
      Pending

      Daytona Beach Commercial Building

      Freestanding commercial building in high-traffic area near the beach.
      523 N Peninsula Dr, Daytona Beach, FL 32118
      View Details
    • $899,000
      6,700 SF

      Daytona Beach Commercial Corner Lot

      6,700 SF commercial property with 8 automotive bays.
      401 Mason Ave, Daytona Beach, FL 32117
      View Details
    • New
      $335,000
      1,300 SF

      Daytona Beach Commercial Opportunity

      High-visibility commercial property in Daytona Beach's established commercial district.
      141 W International Speedway Blvd, Daytona Beach, FL 32114
      View Details
    • $339,000
      2,060 SF

      Daytona Beach Two-Story Office Building

      Two-story office building in downtown Daytona Beach with historic charm.
      339 S Ridgewood Ave, Daytona Beach, FL 32114
      View Details
    • $999,999
      6,786 SF

      Daytona Beach Commercial Asset Sales

      Turnkey restaurant and bar opportunity in Daytona Beach, Florida.
      312-318 Seabreeze Blvd, Daytona Beach, FL 32118
      View Details

    FAQs

    What type of property is this?
    Motel - Hospitality property with 14 units, laundry, and high occupancy.
    Where is this motel located?
    The property is located at 828 Ridgewood Ave Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $1,299,000.
    What are key features of this property?
    This property features: - High year-round occupancy rate and strong cash flow from 14 income-producing units.; - Prime location: **5 miles from Daytona International Speedway and less than 3 miles from Daytona Beach.**; - Excellent frontage and visibility on high-traffic US-1/Ridgewood Avenue.
    (407) 729-3894
    Request Owner's contact information
    828 Ridgewood Ave Daytona Beach, FL 32117
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    828 Ridgewood Ave
    Daytona Beach, FL 32117
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    828 Ridgewood Ave Daytona Beach, FL 32117
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Hafid Boujidi
    Hafid Boujidi
    Real Estate License ID: BK3290647
    (407) 729-3894 (321) 939-3748 (407) 237-0905
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!