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

    223 Ridgewood Ave Edgewater, FL 32132-1707

    • Retail space
    • 6,240 SF
    • 1.31 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5315960
    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

    • Southeast Volusia Building and Remodeling d/b/a Volusia Kitchen and Bath / Kitchen Remodeler / Bathroom Remodeler
    • Pioneer Appliance / Appliance Store

    Property Details for 223 Ridgewood Ave

    Year built
    1984
    Construction
    WOOD
    Lot size
    1.31 lot acres
    Property size
    6,240 SF
    Zone code
    B3
    Property type
    Retail space
    APN
    7452-01-00-0140
    APU
    745201000140

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Edgewater
    County
    Volusia
    State
    Florida
    Longitude
    -80.9087
    Latitude
    28.995
    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
    $16,723
    $313,077
    $579,742
    $892,819
    -
    $313,077
    $579,742
    $892,819

    Comparable in this City

    • Value Estimation
      $205,000
      800 SF

      927 Ridgewood Ave Ste A5

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      927 Ridgewood Ave Ste A5, Edgewater, FL 32132-2356
      View Details
    • Value Estimation
      $285,000
      7,520 SF

      210 Ridgewood Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,520 SF
      210 Ridgewood Ave, Edgewater, FL 32132-1731
      View Details
    • Value Estimation
      $115,000
      800 SF

      927 Ridgewood Ave Ste A7

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      927 Ridgewood Ave Ste A7, Edgewater, FL 32132-2356
      View Details
    • Value Estimation
      $200,000
      800 SF

      931 Ridgewood Ave Ste B4

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      931 Ridgewood Ave Ste B4, Edgewater, FL 32132-2375
      View Details
    • Value Estimation
      $250,000
      2,954 SF

      429 Ridgewood Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,954 SF
      429 Ridgewood Ave, Edgewater, FL 32132-1647
      View Details
    • Value Estimation
      $290,000
      2,043 SF

      917 Ridgewood Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,043 SF
      917 Ridgewood Ave, Edgewater, FL 32132-2330
      View Details

    Similar Nearby for Sale

    • $280,000

      Retail Investment Opportunity in Edgewater

      Leased retail property with new roof near amenities.
      111-113 Wolfs Driftwood Cir, Edgewater, FL 32132
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    • $4,026,893
      4,887 SF

      Retail Investment Property in Edgewater

      100% occupied retail property with long-term leases and rental increases.
      1308 S Ridgewood Ave, Edgewater, FL 32132
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    • $249,000
      1,200 SF

      Edgewater Retail Condo - $249K

      Prime Retail Space, High Visibility, US-1
      1401 Ridgewood Us 1 Ave, Edgewater, FL 32132
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    • $1,500,000
      4,600 SF

      Edgewater Retail Investment

      High-growth area, multi-tenant retail
      1092 Ridgewood Ave, Edgewater, FL 32132
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    • $489,000
      2,043 SF

      WHICH ALSO HAS DRIVE THRU\/AROUND CAPABILITY. THE PROPERTY IS LOCATED UPON THE WELL TRAVELLED U.S. HWY 1 WITH AADT OF 28

      000+ WITH BOTH EXCELLENT VISIBILITY AND SIGNAGE IN PLACE. THE PROPERTY IS ZONED B-3 HIGHWAY\/COMMERCIAL
      917 Ridgewood Us 1, Edgewater, FL 32132
      View Details
    • $3,900,000
      20.42 Acres

      Edgewater Commercial Land - 20 Acres

      Prime 20+ acre development site, ideal for mixed-use.
      3199 Indian River Blvd, Edgewater, FL 32132
      View Details

    Similar Nearby for Lease

    • $90,000
      272,250 SF

      Edgewater Industrial Flex Space

      6.25 Acres, Fully Improved, I-95 Access
      421 Timaquan Trl, Edgewater, FL 32132
      View Details
    • $5,000 /Mo
      12,197 SF

      Edgewater Warehouse with Loading Dock

      Available warehouse space with roll-up door and loading dock.
      115 Whetzel St, Edgewater, FL 32132
      View Details
    • $2,500 /Mo
      800 SF

      Versatile Office/Warehouse Space Available

      1600 SF office/warehouse combo in Edgewater, minutes from I-95.
      702 W Park Ave, Edgewater, FL 32132
      View Details
    • $395 /Mo

      Office Space in Prime Location

      Office spaces available in a well-located, freestanding building.
      1001 S Ridgewood Ave, Edgewater, FL 32132
      View Details
    • $13,200 /Mo

      Spacious Light Industrial Bay

      Light industrial bay with roll-up doors and ample lighting.
      1518 Industrial Dr, Edgewater, FL 32132
      View Details
    • $3,000 /Mo
      1,600 SF

      Edgewater Office/Warehouse Space Available

      Versatile 1,600 SF office/warehouse near I-95 and US-1.
      702 W Park Ave, Edgewater, FL 32132
      View Details
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    223 Ridgewood Ave
    Edgewater, FL 32132-1707
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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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