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    Property profile & analytics

    1028 Ridgewood Ave Daytona Beach, FL 32117

    • Motels
    • 3,700 SF
    • 0.41 lot acres
    For Sale
    View listing
    $1,151,000
    Value Estimations
    Cap Rate Potential
    4.9%
    Motels
    Location Intelligence
    Property ID
    US18-1890944
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Motels

    Property Details for 1028 Ridgewood Ave

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.41 lot acres
    Property size
    3,700 SF
    Zone code
    B4
    Property type
    Motels
    APN
    4242-62-05-0060
    APU
    424262050060

    Description

    This 12-key motel presents a compelling redevelopment opportunity in Daytona Beach, Florida. The 3,832 square foot property, built in 1952 and renovated in 2020, sits on a 0.41-acre lot at 1028 Ridgewood Ave, 32117, boasting a prime location directly across from Daytona Pictona Field. This high-traffic area benefits from proximity to LPGA Boulevard, Tanger Outlets, and the Daytona Beach river, offering guests convenient access to shopping, dining, and recreational activities. The motel currently enjoys an 80% occupancy rate (as of August 7, 2024) and features 12 guest rooms, each with its own parking space (13 total spaces). The property is zoned for hotel/motel use (3900-Hotel/Motel) and benefits from a strong existing reputation, evidenced by multiple 5-star TripAdvisor reviews. The asking price is $1,151,000 ($300.37/sq ft, $95,916.67/key). Nearby amenities include the YMCA and Holly Hill Outpost. This turnkey operation offers significant potential for increased revenue and return on investment in a thriving tourist destination. The property is freehold, not subject to a ground lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $220,000
      6.5%
      $205,000
      7%
      $190,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0408
    Latitude
    29.2432
    CBSA code
    19660
    CBSA name
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,438
    $70,920
    $52,397
    $123,317
    -
    $70,920
    $52,397
    $123,317

    Comparable in this City

    • Value Estimation
      $510,000
      928 SF

      403 Ridgewood Ave

      MOTEL • 928 SF
      403 Ridgewood Ave, Daytona Beach, FL 32117-4421
      View Details
    • Value Estimation
      $305,000
      3,502 SF

      216 Ridgewood Ave

      MOTEL • 3,502 SF
      216 Ridgewood Ave, Daytona Beach, FL 32117-4932
      View Details
    • Value Estimation
      $615,000
      1,732 SF

      467 Ridgewood Ave

      MOTEL • 1,732 SF
      467 Ridgewood Ave, Daytona Beach, FL 32117-4461
      View Details
    • Value Estimation
      $505,000
      2,460 SF

      828 Ridgewood Ave

      MOTEL • 2,460 SF
      828 Ridgewood Ave, Daytona Beach, FL 32117-3518
      View Details
    • Value Estimation
      $225,000
      504 SF

      1245 Ridgewood Ave

      MOTEL • 504 SF
      1245 Ridgewood Ave, Daytona Beach, FL 32117-2721
      View Details
    • Value Estimation
      $1,035,000
      902 SF

      500 Ridgewood Ave

      MOTEL • 902 SF
      500 Ridgewood Ave, Daytona Beach, FL 32117-4424
      View Details

    Similar Nearby for Sale

    • $1,151,000
      3,700 SF

      Daytona Beach Motel Near Pictona

      12-unit motel with owner's apartment near Daytona Pictona Field.
      1028 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $1,151,000
      3,832 SF

      Ranch Motel: Daytona Beach Investment

      12-Unit Motel, High Traffic Location, Redevelopment Opportunity
      1028 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $1,300,000
      4,086 SF

      Holly Hill Investment Opportunity

      Versatile property with income potential in Holly Hill, Florida.
      1245 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $1,151,000
      3,832 SF

      Daytona Beach Motel Investment

      12-Unit Motel, Prime Location, High Returns
      1028 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $800,000
      5,341 SF

      Daytona Beach Mixed-Use Investment

      5,341 SF Multi-Use Property, High Potential
      526 Mason Ave, Daytona Beach, FL 32117
      View Details
    • Contact for pricing

      Holly Hill, FL Multifamily Portfolio

      1455 Units, $140M Value-Add Opportunity
      0 Ridgewood Ave, Holly Hill, FL 32117
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      95,000 SF

      Daytona Beach Medical Office Space

      Prime Medical Suites, LPGA Blvd.
      1890 Lpga Blvd, Daytona Beach, FL 32117
      View Details
    • $10 SF/Yr
      40,000 SF

      Holly Hill Flex Space Available

      Versatile industrial flex space for lease.
      525 Carswell Ave, Holly Hill, FL 32117
      View Details
    • $30 SF/Yr
      2,168 SF

      Office Center Under Construction

      New office center with units available for lease.
      3881-3883 S Nova Rd, Port Orange, FL 32117
      View Details
    • $1,750,000
      3,488 SF

      Prime Commercial Property in Port Orange

      Commercial property for ground lease or build-to-suit in Florida.
      3480 S Nova Rd, Port Orange, FL 32117
      View Details
    • Contact for pricing
      2,500 SF

      Port Orange Medical Office Space

      2,500 SF medical office available for lease in Port Orange.
      3875 S Nova Rd, Port Orange, FL 32117
      View Details
    • Contact for pricing

      Daytona Beach Commercial Land Available

      Commercial land for rent with high traffic and easy access.
      1445 S Nova Rd, Daytona Beach, FL 32117
      View Details
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    Daytona Beach, FL 32117
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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.

    More about this property
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