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

    1635 Ridgewood Ave South Daytona, FL 32119

    • Investment properties
    • 15,171 SF
    • 0.84 lot acres
    For Lease
    View listing
    $5,100 /Mo
    Last Sale
    Jan 27, 2025
    $1,500,000
    Value Estimations
    $1,220,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4887888
    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

    • Vanity / Beauty Salon
    • 1st Coast Bail Bonds & Surety Agency / Bail Bonds Service
    • Phyllis Lavigna / Social Worker / Practitioner Service Location
    • Mrs. Elizabeth Ferguson / Social Worker / Practitioner Service Location
    • Timothy Remmert / Social Worker / Practitioner Service Location

    Property Details for 1635 Ridgewood Ave

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.84 lot acres
    Property size
    15,171 SF
    Zone code
    BR
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    5344-16-00-0588
    APU
    534416000588

    Description

    This South Daytona commercial property offers two available office suites in a Class B, two-story building totaling 15,171 square feet situated on a 0.84-acre lot. The suites are located on the second floor and are ideal for small businesses or individual professionals. Suite 224 offers approximately 150 square feet of space for $425 per month, all-inclusive of sales tax and utilities. Suite 212-213 provides approximately 400 square feet for $625 per month, also inclusive of sales tax and utilities. Both suites benefit from access to a large shared conference room, common restrooms, and a lobby area. Ample parking is available, along with excellent signage opportunities. The building features an elevator for convenient access to the second floor. The property is zoned BGC and has a Volusia County APN of 534416000588. The building is under new ownership and management, promising a refreshed and well-maintained environment. Minimum leasable space is 150 square feet, with a maximum contiguous space of 1,000 square feet available. This property presents a fantastic opportunity for businesses seeking flexible and affordable office space in a convenient South Daytona location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,125,000
      ML approach
      $1,085,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,500,000
      Market price range: $1.50M - $2.88M
      AI Estimate
      $1,516,000
      Market price range: $1.15M - $3.65M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,790,000

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

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -81.0072
    Latitude
    29.1824
    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
    $19,768
    $146,400
    $838,401
    $984,801
    -
    $146,400
    $838,401
    $984,801

    Comparable in this City

    • Value Estimation
      $495,000
      15,578 SF

      950 Big Tree Rd

      STORE/OFFICE (MIXED USE) • 15,578 SF
      950 Big Tree Rd, South Daytona, FL 32119-2518
      View Details
    • Value Estimation
      $570,000
      500 SF

      2090 Nova Rd

      STORE/OFFICE (MIXED USE) • 500 SF
      2090 Nova Rd, Daytona Beach, FL 32119-8834
      View Details
    • Value Estimation
      $225,000
      1,440 SF

      3100 Ridgewood Ave, Unit 49

      STORE/OFFICE (MIXED USE) • 1,440 SF
      3100 Ridgewood Ave, South Daytona, FL 32119-4501
      View Details
    • Value Estimation
      $240,000
      2,400 SF

      1680 Segrave St

      STORE/OFFICE (MIXED USE) • 2,400 SF
      1680 Segrave St, South Daytona, FL 32119-2122
      View Details
    • Value Estimation by Request
      2,190 SF

      101 Sea Hawk Dr

      STORE/OFFICE (MIXED USE) • 2,190 SF
      101 Sea Hawk Dr, Daytona Beach, FL 32119-1359
      View Details
    • Value Estimation
      $870,000
      12,610 SF

      2111 Ridgewood Ave

      STORE/OFFICE (MIXED USE) • 12,610 SF
      2111 Ridgewood Ave, South Daytona, FL 32119-3015
      View Details

    Similar Nearby for Sale

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      South Daytona Commercial Land - $369K

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    Similar Nearby for Lease

    • $13,376 /Mo
      14,348 SF

      South Daytona Mixed-Use Commercial Building

      14,368 SF mixed-use building for lease in South Daytona.
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      View Details
    • $12 SF/Yr

      South Daytona Warehouse Flex Space

      7,200 SF climate-controlled warehouse with office and showroom.
      2030 S Ridgewood Ave, Daytona Beach, FL 32119
      View Details
    • $17 SF/Yr
      2,200 SF

      Big Tree Plaza Retail Space

      Prime Retail Space, US Hwy 1
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      View Details
    • $13 SF/Yr
      39,600 SF

      South Daytona Flex Space Available

      Versatile Flex/Warehouse Space for Lease
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      View Details
    • $18 SF/Yr
      1,913 SF

      South Daytona Retail Space for Lease

      Prime Retail Space, 1913 sq ft, Flexible Lease
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      View Details
    • $5,100 /Mo
      15,171 SF

      South Daytona Office Suites For Lease

      Prime Office Space, Flexible Sizes Available
      1635 Ridgewood Ave, South Daytona, FL 32119
      View Details
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    1635 Ridgewood Ave
    South Daytona, FL 32119
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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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