Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3635 Ridgewood Ave Edgewater, FL 32141
    Back to Search
    Property profile & analytics

    3635 Ridgewood Ave Edgewater, FL 32141

    View on Map
    • Commercial real estate
    • 1,500 SF
    • 1.31 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3635 Ridgewood Ave

    Lot size
    1.31 lot acres
    Property size
    1,500 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents the chance to acquire Lucille's Silver Spurs Country & Western Lounge, a well-established and remodeled nightclub in Edgewater, Florida. Situated on a 1.31-acre lot at 3635 S Ridgewood Ave, 32141, this property boasts excellent visibility and ample parking. The main building offers 1,500 square feet of climate-controlled space, complemented by a spacious rear patio. Included in the sale is a valuable 4-COP Quota alcoholic beverage license, estimated at a fair market value of $350,000. The sale also encompasses existing furniture, fixtures, and equipment. Note that the pool table and jukebox are subject to a 50/50 split with amusement vendors. This is an "as-is" sale of the real estate, license, and furnishings

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Edgewater
    County
    Volusia
    State
    Florida
    Longitude
    -80.8778
    Latitude
    28.934

    Comparable in this City

    • Value Estimation by Request

      4339 Cedar Way

      Multifamily properties
      4339 Cedar Way, Edgewater, FL 32141
      View Details
    • Value Estimation by Request

      Indian River Blvd

      Multifamily properties
      0 Indian River Blvd, Edgewater, FL 32141
      View Details
    • Value Estimation by Request

      4332 Cedar Way

      Multifamily properties
      4332 Cedar Way, Edgewater, FL 32141
      View Details
    • Value Estimation by Request

      324 Schooner Ave

      Multifamily properties
      324 Schooner Ave, Edgewater, FL 32141
      View Details
    • Value Estimation by Request
      1,944 SF

      2016 Hibiscus Dr

      STORE/OFFICE (MIXED USE) • 1,944 SF
      2016 Hibiscus Dr, Edgewater, FL 32141-4006
      View Details
    • Value Estimation
      $6,595,000
      44,800 SF

      202 Relocation Rd

      STORE/OFFICE (MIXED USE) • 44,800 SF
      202 Relocation Rd, Edgewater, FL 32141-7931
      View Details

    Similar Nearby for Sale

    • $1,800,000
      1.86 Acres

      Edgewater Commercial Investment Opportunity

      High-traffic corner lot, 8200+ sq ft, 1.837 acres
      2001 Ridgewood Ave, Edgewater, FL 32141
      View Details
    • $998,000

      Edgewater Commercial Space Investment

      6,250 SF Office/Warehouse, Lease in Place
      2808 Hibiscus Dr, Edgewater, FL 32141
      View Details
    • Contact for pricing

      Volusia County Commercial Land Opportunity

      Strategically located commercial land in Volusia County, near New Smyrna Beach.
      3493 S Ridgewood Ave, Edgewater, FL 32141
      View Details
    • $100,000
      0.34 Acres

      Oversized Homesite in Florida Shores

      Triple lot ready to build your custom dream home.
      2324 Orange Tree Dr, Edgewater, FL 32141
      View Details

    Similar Nearby for Lease

    • $15,408 /Mo

      Prime Retail/Office Suite on US-1

      Highly visible 856± SF suite on US-1 in Edgewater, FL.
      2120 S Ridgewood Ave, Edgewater, FL 32141
      View Details
    • $5,000 /Mo

      Retail Space in Growing Edgewater

      Retail space available in a vibrant neighborhood center.
      2311 S Ridgewood Ave, Edgewater, FL 32141
      View Details
    • $3 SF/Yr

      Quick Service Restaurant Opportunity

      New restaurant space with drive-up in high-traffic retail center.
      2900 S Ridgewood Ave, Edgewater, FL 32141
      View Details
    • $12,000 /Mo
      8,391 SF

      Turnkey Restaurant Opportunity in Edgewater

      Turnkey restaurant for lease on US Highway 1 in Edgewater.
      4170 Us Highway 1, Edgewater, FL 32141
      View Details
    Request Owner's contact information
    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.
    3635 Ridgewood Ave
    Edgewater, FL 32141
    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
    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

    Thank You for Inquiry
    3635 Ridgewood Ave, Edgewater, FL, 32141
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!