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Property profile & analytics
OFF-MARKET
Estimated value
$1,455,000
Outlet malls
1720 Ridgewood Ave Edgewater, FL 32132-3614
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US18-0581580
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,935 SF
Lot
1.28 ac (55,845 SF)
Zoning code
B3
APN
8402-28-02-0079
UPID
US18-0581580
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
-
AutoZone Auto Parts Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.46M
Owner & transaction history
Preferred Properties Ptshp · 16 yrs held
Preferred Properties Ptshp
since 2010
6 recorded transactions
Zoning & alternative use
B3 · Edgewater, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+40.9%
Medical building
$1.3M
+5.5%
Neighborhood: shopping center
$1.2M
+1.5%
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 Edgewater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edgewater 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,090,000
6.5%
$1,005,000
7%
$935,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,225,000
Current use
AUTO REPAIR, GARAGE
$1,725,000
Change: +41% · Conversion: Difficult
MEDICAL BUILDING
$1,290,000
Change: +5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,240,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,225,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$1.46M
Range $1.31M – $1.60M · ±10%
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
$210 / 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
$15,789
Tax year 2023
Assessed value
$826,288
Assessed 2023
Previous assessed
$771,737
+7.1% YoY
Effective rate
1.91%
On assessed value
Assessed land
$251,303
Assessed improvement
$574,985
Land market value
$251,303
Improvement market value
$574,985
Total market value
$826,288
Applied tax rate
604.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
2
Total area
6,935 SF
Lot
1.28 ac (55,845 SF)
Zoning code
B3
APN
8402-28-02-0079
UPID
US18-0581580
Jurisdiction
VOLUSIA
Zoning & alternative use
B3 · Edgewater, FL
Zoning B3 · permitted uses
B3 · Edgewater, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edgewater. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
2010
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.28 ac
Current owner
From public records · entity-resolved
Preferred Properties Ptshp
Entity
Mailing address
PO BOX 2198, MEMPHIS, TN 38101-2198
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2010
$625,000
Preferred Properties Ptshp
Spanos,georgia
Warranty Deed
—
May 2, 2008
—
Georgia Spanos
Buonicore,olga T
Quit Claim Deed
related
—
May 3, 2005
$875,000
Georgia Spanos
Cavos INC
Warranty Deed
$650,000 · Friends Bank
Apr 30, 2001
$375,000
Cavos INC
Benetal Corp
Grant Deed
$325,000 · Benetal Corp
—
—
Cavos INC
—
Deed Of Trust
related
$250,000 · Regions Bank
—
—
Martha S Halcomb
—
Deed Of Trust
related
$483,233 · Martha S Halcomb
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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