1092 Ridgewood Ave Edgewater, FL 32132
- Retail properties
- 3,343 SF
- 0.67 lot acres
Current Use by Public Records
- tropical auto air / Auto Repair Shop
Property Details for 1092 Ridgewood Ave
- Year built
- 1970
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.67 lot acres
- Property size
- 3,343 SF
- Property type
- Retail properties
- APN
- 7433-01-00-0320
- APU
- 743301000320
Description
This exceptional 1.53-acre mixed-use property in Edgewater, Florida, boasts 264 feet of frontage on US1 and generates over $145,000 in annual income from existing tenants. Currently operating as a mechanic shop and automotive sales business with mobile homes, this assemblage of two parcels presents significant redevelopment potential. The high-traffic location at the entrance to the YMCA ensures a steady stream of potential customers. Its versatility allows for expansion of existing uses or complete redevelopment, ideally suited for two drive-through restaurants, major retail, or medical facilities. Ample parking is available, and the addition of a retention pond in the rear would facilitate expansion while meeting regulatory requirements. The property's proximity to popular restaurants like Taco Bell, Little Caesars, and Chick-fil-A, along with its adjacency to a municipal park, further enhances its appeal. Located just one hour from Orlando International Airport and two miles from New Smyrna Beach, this property offers unparalleled business opportunities within a thriving community. Furthermore, its location within a Community Redevelopment Area (CRA) provides access to potential incentives and support for redevelopment projects. This is a truly remarkable investment opportunity in a prime commercial location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $620,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $690,000
- 6.5%
- $615,000
- 7%
- $635,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $695,000
- Geo Method
- $750,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $695,000
- Retail
- $685,000
- Mixed-Use
- $615,000
- Hospitality
- $790,000
- Educational
- $590,000
- Residential Income
- $715,000
- Energy
- $745,000
- Income-Based Land
- $660,000
- Food Service
- $605,000
Location Insight
- Map
- Local Demand
- City
- Edgewater
- County
- Volusia
- State
- Florida
- Longitude
- -80.9022
- Latitude
- 28.9819
- CBSA code
- 19660
- CBSA name
- DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
