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    623 Ridgewood Ave Daytona Beach, FL 32114

    Sponsored
    For Sale
    $90,000

    Prime location, multi-use potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Daytona Beach property, located at 623 S Ridgewood Avenue, presents a compelling investment opportunity. The 7,840.8 square foot lot is zoned T-2, allowing for a diverse range of uses including multi-family housing, tourist accommodations, office space, restaurants, retail establishments, and residential development. Situated in the heart of Daytona Beach's business and historic district, this property enjoys a prime location directly on US1. Its proximity to the Halifax River, marina, riverfront areas, parks, beaches, shops, and restaurants enhances its appeal. The lot is cleared and ready for development, with readily available water, sewer, and electricity. An adjacent lot at 619 S Ridgewood Ave is also available for sale, offering potential for a combined purchase at a reduced price. This property is ideal for investors seeking a versatile and strategically located asset in a thriving area. Potential buyers are strongly encouraged to conduct their own due diligence, contacting the zoning department to discuss any planned development and verifying all acceptable zoning uses, measurements, and city requirements. The asking price for this remarkable opportunity is $90,000.

    Property Features for 623 Ridgewood Ave

    General Information

    Property type
    Multifamily properties

    HighLights

    • 7,840.8 sq ft lot zoned T‑2, allowing multi‑family, tourist accommodations, office, retail, and residential uses.
    • Prime Daytona Beach location on US1, near Halifax River, marina, beaches, and amenities.
    • Cleared and ready for development with utilities available.
    • Adjacent lot (619 S Ridgewood Ave) also available for combined purchase.
    • Asking price: $90,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0170042
    Latitude
    29.2005685

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    FAQs

    What type of property is this?
    Multifamily property - Prime location, multi-use potential.
    Where is this multifamily property located?
    The property is located at 623 Ridgewood Ave Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $90,000.
    What are key features of this property?
    This property features: 7,840.8 sq ft lot zoned T-2, allowing multi-family, tourist accommodations, office, retail, and residential uses.; Prime Daytona Beach location on US1, near Halifax River, marina, beaches, and amenities.; Cleared and ready for development with utilities available.
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    Realmo Value Estimation

    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.

    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.

    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
    623 Ridgewood Ave Daytona Beach, FL 32114
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