138 Ridgewood Ave Daytona Beach, FL 32114-4316
- Distribution properties
- 1,456 SF
- 0.86 lot acres
Current Use by Public Records
- LibertyX Bitcoin ATM / Atm
- Greyhound: Bus Station / Bus Company
- Greyhound Package Xpress / Bus Company
Property Details for 138 Ridgewood Ave
- Year built
- 2022
- Construction
- WOOD
- Lot size
- 0.86 lot acres
- Property size
- 1,456 SF
- Zone code
- BR2
- Property type
- Distribution properties
- APN
- 5339-01-20-0020
- APU
- 533901200020
Description
This exceptional investment opportunity presents a 1,456 square foot executive office building located at 138 S Ridgewood Ave, Daytona Beach, Florida, 32114. The property, built in 2022, sits on a 0.86-acre lot and is currently 100% occupied under a NNN lease with Greyhound, a tenant with a history exceeding 20 years at this location. The lease, expiring October 19, 2029, features a 3.5% annual base rent increase, resulting in a strong 7.75% cap rate. The building is classified as Class C and is zoned RDD3. This single-story structure offers minimal landlord responsibilities, making it an attractive investment for passive income seekers. The strategic location in downtown Daytona Beach, just south of a new Wawa and International Speedway Boulevard, ensures high visibility and accessibility. The asking price is $1,190,000. No lease extension options are available. This is a single-tenant property with a proven track record and significant upside potential. The property features state-of-the-art construction and represents a rare opportunity to acquire a well-located, income-producing asset with a strong tenant. The Volusia County property's APN is 533901200020.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $415,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $545,000
- 6.5%
- $580,000
- 7%
- $505,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $505,000
- Geo Method
- $495,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $575,000
- Retail
- $550,000
- Mixed-Use
- $500,000
- Hospitality
- $525,000
- Educational
- $450,000
- Residential Income
- $500,000
- Energy
- $440,000
- Income-Based Land
- $495,000
- Food Service
- $475,000
Location Insight
- Map
- Local Demand
- City
- Daytona Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.0227
- Latitude
- 29.2092
- CBSA code
- 19660
- CBSA name
- DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
