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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1515 Ridgewood Ave Daytona Beach, FL 32114-6133

    • Motels
    • 10,335 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2024
    $2,100,000
    Value Estimations
    $2,100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3297028
    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

    • Bluewater Reef Aquatics, Inc. / Department Store / Pet Store
    • Super Inn / Inn / Hotel

    Property Details for 1515 Ridgewood Ave

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.92 lot acres
    Property size
    10,335 SF
    Zone code
    T4
    Property type
    Motels
    APN
    5340-06-23-0090
    APU
    534006230090

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,100,000
      ML approach
      $2,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,018,000
      Market price range: $2.02M - $4.05M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,765,000
      Current use
      WAREHOUSE, STORAGE
      $3,075,000
      Change: +11% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,570,000
      Change: -7% Conversion: Difficult
      RESTAURANT
      $2,220,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0087
    Latitude
    29.1853
    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
    $4,601
    $128,000
    $133,312
    $261,312
    -
    $128,000
    $133,312
    $261,312

    Comparable in this City

    • Value Estimation
      $2,170,000
      50,500 SF

      90 Professional Blvd

      MOTEL • 50,500 SF
      90 Professional Blvd, Daytona Beach, FL 32114-3832
      View Details
    • Value Estimation by Request
      0.44 Acres

      1870 Victory Cir

      HOTEL/MOTEL • 0.44 Acres
      1870 Victory Cir, Daytona Beach, FL 32114-0006
      View Details
    • Value Estimation
      $1,500,000
      7,680 SF

      1225 Ridgewood Ave

      MOTEL • 7,680 SF
      1225 Ridgewood Ave, Daytona Beach, FL 32114-6127
      View Details
    • Value Estimation
      $525,000
      14,256 SF

      336 Palmetto Ave

      MOTEL • 14,256 SF
      336 Palmetto Ave, Daytona Beach, FL 32114-4920
      View Details
    • Value Estimation
      $905,000
      17,145 SF

      544 Ridgewood Ave

      MOTEL • 17,145 SF
      544 Ridgewood Ave, Daytona Beach, FL 32114-4930
      View Details
    • Value Estimation
      $1,105,000
      9,840 SF

      1361 Ridgewood Ave

      MOTEL • 9,840 SF
      1361 Ridgewood Ave, Daytona Beach, FL 32114-6129
      View Details

    Similar Nearby for Sale

    • $2,800,000

      Daytona Beach Motel Package Deal

      High-Yield Motel, 34 Keys, Owner Financing
      1401 Ridgewood Ave, Daytona Beach, FL 32114
      View Details
    • New
      $1,350,000
      3,930 SF

      Daytona Beach Extended Stay Motel

      Extended-stay motel near I-4 and Daytona Beach.
      1327 S Ridgewood Ave, Daytona Beach, FL 32114
      View Details
    • $3,400,000
      14,000 SF

      Daytona Beach Motel Investment Opportunity

      High-Yield Motel, 29 Keys, Great Location
      1305 Ridgewood Ave, Daytona Beach, FL 32114
      View Details
    • $2,300,000
      6,210 SF

      Prime Brown Avenue Warehouse

      12,720 SF Warehouse - Lease Option
      1020 Ridgewood Ave, Daytona Beach, FL 32114
      View Details
    • $4,200,000

      Beachfront Inn & Restaurant

      Historic Daytona Beach Hotel, Restaurant for Sale
      444 Beach St, Daytona Beach, FL 32114
      View Details
    • $4,200,000

      Established Bed and Breakfast For Sale

      15-unit bed and breakfast near Halifax Marina.
      444 S Beach St, Daytona Beach, FL 32114
      View Details

    Similar Nearby for Lease

    • $0.02 SF/Yr
      8,000 SF

      Daytona Beach Warehouse For Lease

      8,000 SF Warehouse, Expansion Available
      832 Nova Rd, Daytona Beach, FL 32114
      View Details
    • $1,490 /Mo
      894 SF

      Harbor Plaza Office with Marina Views

      Well-maintained office suite with Intracoastal Waterway views in Daytona Beach.
      125 Basin St, Daytona Beach, FL 32114
      View Details
    • Contact for pricing
      1,575 SF

      Retail Space Near Daytona Speedway

      Retail space available in regional shopping destination near Daytona Speedway.
      2500 W International Speedway Blvd, Daytona Beach, FL 32114
      View Details
    • Contact for pricing
      3,500 SF

      Daytona Beach Retail Space Available

      Retail and restaurant spaces available in new shopping center.
      1587 N Williamson Blvd, Daytona Beach, FL 32114
      View Details
    • Contact for pricing

      Daytona Beach Commercial Land

      Easy access to major roads and Daytona attractions.
      1413 S Nova Rd, Daytona Beach, FL 32114
      View Details
    • $9 SF/Yr
      1,700 SF

      Retail and Warehouse Space Available

      Retail and warehouse spaces for rent near Daytona International Speedway.
      100-292 N Nova Rd, Daytona Beach, FL 32114
      View Details
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    1515 Ridgewood Ave
    Daytona Beach, FL 32114-6133
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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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