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

    1615 Ridgewood Ave Holly Hill, FL 32117

    • Investment properties
    • 4,324 SF
    • 0.50 lot acres
    For Lease
    View listing
    $33 SF/Yr
    Last Sale
    Jul 06, 2021
    $580,000
    Value Estimations
    $895,000
    Cap Rate Potential
    6.2%
    Investment properties
    Location Intelligence
    Property ID
    US18-0665933
    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

    • Premier Pulmonary Services / Medical Clinic
    • webuyanycar.com / Car Dealer / Appraiser
    • Dole Exports & Imports / Exporter
    • Stress And Anxiety Center / Mental Health Clinic
    • Carters Health Care / Health Consultant

    Property Details for 1615 Ridgewood Ave

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.50 lot acres
    Property size
    4,324 SF
    Zone code
    B4
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    4242-20-09-0080
    APU
    424220090080

    Description

    This exceptional offering presents a rare opportunity to lease fully-equipped executive office suites in Daytona Beach, Florida. Located on high-traffic Ridgewood Avenue (US Hwy 1), this prime location ensures excellent visibility and accessibility. The property comprises two Class B buildings, totaling 9,706 square feet, constructed in 1974 and extensively renovated in 2021. Currently, approximately 1,000 square feet of space is available for lease. The suites boast 8-foot ceilings, 120V power, and modern amenities including LED lighting and surveillance systems. Leases are gross, meaning utilities are included in the monthly rent. Several turn-key options are available, featuring fresh carpet, flooring, and paint. The spaces are ideal for small businesses or individuals seeking a convenient and cost-effective workspace. Available units include: Building 1615, Unit 108 (12x12, $425/month)

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $865,000
      ML approach
      $635,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $890,000
      6.5%
      $820,000
      7%
      $765,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,172,000
      Market price range: $400k - $1.35M
      AI Estimate
      $861,000
      Market price range: $213k - $993k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $845,000
      Current use
      AUTO REPAIR, GARAGE
      $1,075,000
      Change: +27% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $915,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $845,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0471
    Latitude
    29.2569
    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
    $10,482
    $86,320
    $439,445
    $525,765
    -
    $86,320
    $439,445
    $525,765

    Comparable in this City

    • Value Estimation
      $265,000
      640 SF

      721 Ridgewood Ave Ste, Unit 6

      STORE/OFFICE (MIXED USE) • 640 SF
      721 Ridgewood Ave Ste, Daytona Beach, FL 32117-3647
      View Details
    • Value Estimation
      $265,000
      450 SF

      1264 8th St

      STORE/OFFICE (MIXED USE) • 450 SF
      1264 8th St, Daytona Beach, FL 32117-4009
      View Details
    • Value Estimation
      $745,000
      22,562 SF

      1616 Concierge Blvd

      STORE/OFFICE (MIXED USE) • 22,562 SF
      1616 Concierge Blvd, Daytona Beach, FL 32117-7158
      View Details
    • Value Estimation by Request
      2,573 SF

      1500 Ridgewood Ave

      STORE/OFFICE (MIXED USE) • 2,573 SF
      1500 Ridgewood Ave, Daytona Beach, FL 32117-2220
      View Details
    • Value Estimation
      $365,000
      16,765 SF

      112 Carswell Ave

      STORE/OFFICE (MIXED USE) • 16,765 SF
      112 Carswell Ave, Daytona Beach, FL 32117-5010
      View Details
    • Value Estimation
      $355,000
      16,477 SF

      1811 Holsonback Dr

      STORE/OFFICE (MIXED USE) • 16,477 SF
      1811 Holsonback Dr, Daytona Beach, FL 32117-5113
      View Details

    Similar Nearby for Sale

    • $1,151,000
      3,832 SF

      Daytona Beach Motel Investment

      12-Unit Motel, Prime Location, High Returns
      1028 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $450,000
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      Daytona Beach Commercial Property

      Mixed-use building, 2164 sq ft, $450,000
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      View Details
    • $1,300,000
      12,518 SF

      Mixed-Use Property in Redevelopment Area

      Mixed-use property in Holly Hill's redevelopment zone with income potential.
      468 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $1,300,000
      12,518 SF

      Holly Hill Mixed-Use Investment

      Mixed-use property in redevelopment area with income and growth potential.
      468 Ridgewood Ave, Daytona Beach, FL 32117
      View Details
    • $350,000
      2,705 SF

      Versatile Holly Hill Commercial Property

      Prime location, dual-use building, $350,000
      486 Lpga Blvd, Holly Hill, FL 32117
      View Details
    • $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

    Similar Nearby for Lease

    • $24 SF/Yr
      95,000 SF

      Daytona Beach Medical Office Space

      Prime Medical Suites, LPGA Blvd.
      1890 Lpga Blvd, Daytona Beach, FL 32117
      View Details
    • $10 SF/Yr
      40,000 SF

      Holly Hill Flex Space Available

      Versatile industrial flex space for lease.
      525 Carswell Ave, Holly Hill, FL 32117
      View Details
    • $30 SF/Yr
      2,168 SF

      Office Center Under Construction

      New office center with units available for lease.
      3881-3883 S Nova Rd, Port Orange, FL 32117
      View Details
    • Contact for pricing
      2,500 SF

      Port Orange Medical Office Space

      2,500 SF medical office available for lease in Port Orange.
      3875 S Nova Rd, Port Orange, 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
    • Contact for pricing

      Daytona Beach Commercial Land Available

      Commercial land for rent with high traffic and easy access.
      1445 S Nova Rd, Daytona Beach, FL 32117
      View Details
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    1615 Ridgewood Ave
    Holly Hill, FL 32117
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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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