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    South Daytona Retail Opportunity Title is generated by Realmo AI

    2323 S RIDGEWOOD Avenue, South Daytona, FL 32119

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    Claim this Listing
    Pending
    $695,000

    COMMERCIAL - South Daytona, FL

    Type:Retail
    Property size:
    2,407 SF
    Added:
    Jul 8, 2024
    Days on Market:
    685
    Last Refresh:
    May 23 at 8:06 am

    Property Features for 2323 S RIDGEWOOD Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Parking features
    Parking Lot
    Standard status
    Pending
    APN
    5344-12-00-0400
    Size
    2,407 SF

    Taxes and HOA fees

    Tax Year
    4738
    Tax Description
    LOTS 40 & 43 WEST SHORE PARK SEC 3 EXC R/W PER OR 4490 PG 4540 PER OR 6011 PG 0757 PER OR 7032 PG 3499
    Tax Annual Amount
    2023

    Building Details

    Year built
    1962
    Building materials
    Block, Concrete

    We can help!

    Listing Contact
    Buddy Budiansky

    Listing agent Buddy Budiansky

    Listing office Realty Pros Commercial 140 S Atlantic Ave. Ste 202, Daytona Beach, FL

    Listing date Jul 8, 2024

    MLS# 1201221

    Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Absolute NNN Lease in place until 2035, providing stable income.
    • High‑visibility corner location on a major commuter route.
    • High traffic count of 28,500 AADT.
    • Located across from Publix and Sunshine Park Mall.
    • 2,407 sq ft building suitable for restaurant, retail, or office use.
    • Opportunity for tenant buyout, allowing for owner‑occupancy.

    Overview

    This 2,407 square foot commercial property is located on a bustling corner in South Daytona, Florida. The property benefits from high visibility and a traffic count of 28,500 AADT. Situated across from Publix and Sunshine Park Mall, the location offers proximity to established retail and commercial activity. Currently operating as an Absolute NNN Leased Convenience Store with a lease extending until 2035, the property presents an opportunity for income generation. Alternative uses include restaurant, retail shop, or office space. Note that gas stations or automotive uses are not permitted.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $406.1K
    NOI $36,551 @ 9.00% cap · cautious / downside scenario
    Moderate
    $522.2K
    NOI $36,551 @ 7.00% cap · market / base-case scenario
    Aggressive
    $731.0K
    NOI $36,551 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $52.9k $21.96
    − Vacancy −$4.1k −$1.71
    EGI $48.7k $20.25
    − OpEx −$12.2k −$5.06
    NOI $36.6k $15.19
    2,407 SF · lease $21.96/SF/yr · vacancy 7.80% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $522.2K
    $456.9K – $609.2K (±1% cap)
    NOI $36,551 @ 7.0% cap · market cap 5.26%
    Second Best
    Retail
    $323.9K
    $283.4K – $377.8K (±1% cap)
    NOI $22,670 @ 7.0% cap · market cap 3.26%
    Theoretical Best
    Office A
    $709.7K
    $621.0K – $828.0K (±1% cap)
    NOI $49,680 @ 7.0% cap · market cap 7.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Similar Places Nearby

    • Cerburg — 2040 s ridgewood ave, south daytona, fl 32119

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -81.0285
    Latitude
    29.1477

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    FAQs

    What type of property is this?
    Grocery and convenience store - NNN leased convenience store with high visibility and traffic.
    Where is this grocery and convenience store located?
    The property is located at 2323 S RIDGEWOOD Avenue South Daytona, FL.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Absolute NNN Lease in place until 2035, providing stable income.; High‑visibility corner location on a major commuter route.; High traffic count of 28,500 AADT.
    (386) 334-2865
    We can help!
    Listing Contact
    Buddy Budiansky
    Request Owner's contact information
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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.

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