1234 Ridgewood Ave Daytona Beach, FL 32114-6178
- Motels
- 4,305 SF
- 1.23 lot acres
Current Use by Public Records
- Sunshine Inn of Daytona Beach / Motel / Hotel
Property Details for 1234 Ridgewood Ave
- Year built
- 1954
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.23 lot acres
- Property size
- 4,305 SF
- Zone code
- T2
- Property type
- Motels
- APN
- 5340-05-03-0120
- APU
- 534005030120
Description
This exceptional investment opportunity presents a well-maintained, 24-key motel situated on a busy section of US1 in Daytona Beach, Florida. The Sunshine Inn boasts a total of 9,346 square feet across two single-story buildings on a spacious 53,676 square foot lot. Built in 1954, the property includes 24 guest rooms and a substantial owner's quarters. Recent improvements include roofs that are less than two years old, eliminating immediate deferred maintenance concerns. The property is offered at $1,900,000, representing a price per square foot of $203.30. The current Net Operating Income (NOI) is $334,518, with a pro-forma NOI of $278,262, yielding a pro-forma capitalization rate of 14.65%. This turnkey operation presents a strong cash flow and significant upside potential. The property's location and size make it an attractive candidate for potential multi-family conversion. Owner financing is available upon request. This is a rare opportunity to acquire a profitable, established motel in a high-demand tourist destination. Don't miss this chance to secure a lucrative investment in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Daytona Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.012
- Latitude
- 29.1893
- CBSA code
- 19660
- CBSA name
- DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
