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Property profile & analytics
OFF-MARKET
Estimated value
$2,100,000
Motels
1515 Ridgewood Ave Daytona Beach, FL 32114-6133
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-3297028
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,335 SF
Lot
0.92 ac (40,000 SF)
Zoning code
T4
APN
5340-06-23-0090
UPID
US18-3297028
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bluewater Reef Aquatics, Inc. Pet Store Pet Store & Service
-
Super Inn Hotel & Motel Bed & Breakfast
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.02M
Blend (final)
Blend
$2.10M
Owner & transaction history
Merian8 LLC · 1 yrs held
Merian8 LLC
since 2024
Last sale
$2.1M
4 recorded transactions
Zoning & alternative use
T4 · Daytona Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.1M
+11.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Daytona Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Daytona Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,100,000
ML approach
$2,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$2.10M
Range $1.89M – $2.31M · ±10% · vs last sale $2.10M (Sep 23 2024)
Last sale anchor
$2.10M
Sep 23 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$203 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,601
Tax year 2023
Assessed value
$261,312
Assessed 2023
Previous assessed
$261,312
+0.0% YoY
Effective rate
1.76%
On assessed value
Assessed land
$128,000
Assessed improvement
$133,312
Land market value
$128,000
Improvement market value
$133,312
Total market value
$261,312
Applied tax rate
204.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
Off-Market
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
21
Bathrooms
23
Total area
10,335 SF
Lot
0.92 ac (40,000 SF)
Zoning code
T4
APN
5340-06-23-0090
UPID
US18-3297028
Jurisdiction
VOLUSIA
Zoning & alternative use
T4 · Daytona Beach, FL
Zoning T4 · permitted uses
T4 · Daytona Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Daytona Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RESTAURANT
Est. value
$2.2M
HOTEL/MOTEL Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
21
Bathrooms
23
Lot
0.92 ac
Current owner
From public records · entity-resolved
Merian8 LLC
Entity
Mailing address
151 S RIDGEWOOD AVE, DAYTONA BEACH, FL 32114-4315
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2024
$2,100,000
Merian8 LLC
Geeta LLC
Warranty Deed
$25,000 · Geeta LLC
May 27, 2010
—
Geeta LLC
Patel,mahendra & Gita M
Warranty Deed
—
—
—
Mahendra Patel
—
Deed Of Trust
related
$300,000 · Coquina Bank
—
—
Mahendra Patel
—
Deed Of Trust
related
$100,000 · Coquina Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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