1401 Ridgewood Ave Daytona Beach, FL 32114
- Motels
Current Use by Public Records
- Tropizar Motel / Motel
Property Details for 1401 Ridgewood Ave
- Property type
- Motels
Description
This exceptional investment opportunity presents a package deal encompassing two Daytona Beach motels, the Pilot and Tropizar, situated on South Ridgewood Avenue at 1400 and 1401. Boasting a prime location in Volusia County, Florida (zip code 32114), these properties offer a compelling return. Currently operating as extended-stay accommodations, the motels generate substantial revenue. Individual rooms command weekly rental rates ranging from $350 to $400, contributing to an impressive annual gross revenue nearing $600,000. The strong operational performance translates to a significant net operating income (NOI) exceeding $475,000, resulting in an attractive capitalization rate of 16.96%. The combined property features a total of 34 keys, providing ample capacity for guests. This turnkey operation presents a rare opportunity for investors seeking a high-yield hospitality investment. The seller is offering owner financing, making this an even more accessible acquisition. The motels are conveniently located near Daytona Beach's attractions and amenities, ensuring consistent occupancy and strong rental demand. This is a unique chance to acquire a well-established and profitable motel package in a thriving Florida market. The asking price for this exceptional package is $2,800,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Daytona Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.0105835
- Latitude
- 29.1870137
