Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Ridgewood Ave Daytona Beach, FL 32117-1733

    • Grocery and convenience stores
    • 2,585 SF
    • 0.81 lot acres
    OFF-MARKET
    Last Sale
    Sep 02, 2024
    $2,989,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0189857
    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

    • 7-Eleven / Convenience Store
    • Western Union / Money Transfer Service
    • 7 Eleven / Gas Station
    • Redbox / Movie Rental Kiosk / Dvd Store

    Property Details for 1601 Ridgewood Ave

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.81 lot acres
    Property size
    2,585 SF
    Zone code
    B4
    Property type
    Grocery and convenience stores
    APN
    4242-20-09-0010
    APU
    424220090010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0466
    Latitude
    29.256
    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
    $9,144
    $159,165
    $277,780
    $436,945
    -
    $159,165
    $277,780
    $436,945

    Comparable in this City

    • Value Estimation
      $455,000
      3,134 SF

      1900 Lpga Blvd

      CONVENIENCE STORE • 3,134 SF
      1900 Lpga Blvd, Daytona Beach, FL 32117-7118
      View Details
    • Value Estimation
      $360,000
      4,178 SF

      1000 Derbyshire Rd

      CONVENIENCE STORE • 4,178 SF
      1000 Derbyshire Rd, Daytona Beach, FL 32117-2910
      View Details
    • Value Estimation
      $1,180,000
      53,380 SF

      2330 Gtwy Dr

      CONVENIENCE STORE • 53,380 SF
      2330 Gtwy Dr, Daytona Beach, FL 32117-7206
      View Details
    • Value Estimation
      $780,000
      5,346 SF

      2087 Lpga Blvd

      CONVENIENCE STORE • 5,346 SF
      2087 Lpga Blvd, Daytona Beach, FL 32117-7162
      View Details
    • Value Estimation
      $495,000
      6,118 SF

      1000 Mason Ave

      CONVENIENCE STORE • 6,118 SF
      1000 Mason Ave, Daytona Beach, FL 32117-4612
      View Details
    • Value Estimation
      $960,000
      62,315 SF

      800 Nova Rd

      GROCERY, SUPERMARKET • 62,315 SF
      800 Nova Rd, Daytona Beach, FL 32117
      View Details

    Similar Nearby for Sale

    • $800,000
      5,341 SF

      Daytona Beach Multi-Use Property

      Versatile 5,341 sq ft building, many uses.
      526 Mason Ave, Daytona Beach, FL 32117
      View Details
    • $800,000
      5,341 SF

      Daytona Beach Mixed-Use Investment

      5,341 SF Multi-Use Property, High Potential
      526 Mason Ave, Daytona Beach, FL 32117
      View Details
    • $1,237,650
      11,392 SF

      LPGA Boulevard Corridor Office Pads

      Office/Retail building pads for sale with completed utilities and parking.
      107 Grand Preserve Way, Daytona Beach, FL 32117
      View Details
    • $1,100,000
      4,513 SF

      Freestanding Building on Signalized Corner

      4,513 SF building on 1.17+/- acres with six drive-thru lanes.
      1600 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $675,000
      4,200 SF

      Daytona Beach Commercial Opportunity

      Versatile 4,200 SF commercial property on 1 acre.
      1036 Derbyshire Rd, Daytona Beach, FL 32117
      View Details
    • $895,000
      6,880 SF

      Daytona Beach Commercial Building

      6,880 SF building with retail, office, and warehouse space.
      806 Mason Ave, Daytona Beach, FL 32117
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1,147 SF

      Holly Hill Office Building For Lease

      1,147 sq ft Medical Office Space in Daytona Beach
      244 9 St, Holly Hill, FL 32117
      View Details
    • $1,750,000
      3,488 SF

      Prime Commercial Property in Port Orange

      Commercial property for ground lease or build-to-suit in Florida.
      3480 S Nova Rd, Port Orange, FL 32117
      View Details
    • $15 SF/Yr
      3,870 SF

      Daytona Beach Retail Space Available

      Retail space in high-visibility corridor, Daytona Beach, FL.
      808-896 N Nova Rd, Daytona Beach, FL 32117
      View Details
    • $18 SF/Yr
      1,275 SF

      Retail Space in Port Orange

      Retail space available in the Port Orange retail corridor.
      3821-3863 S Nova Rd, Port Orange, FL 32117
      View Details
    • $14 SF/Yr
      1,400 SF

      Retail Center on Beville Road

      49,128 SF retail center with high visibility.
      1512-1592 S Nova Rd, Daytona Beach, FL 32117
      View Details
    • $2,650 /Mo
      2,362 SF

      Daytona Beach Commercial Space For Rent

      Versatile commercial space in growing district with river views.
      923 N Beach St, Daytona Beach, FL 32117
      View Details

    Property Visit Statistics

    • Visits by month
      18.4k
    • Visitors by month
      10.6k
    • Avg Time on site
      8 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1601 Ridgewood Ave
    Daytona Beach, FL 32117-1733
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.