For Sale
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Property summary
This exceptional investment opportunity presents a 2,170-square-foot restaurant building situated on a 0.916-acre lot in South Daytona, Florida. Located at 2309 S Ridgewood Avenue, the property boasts a highly visible corner location fronting both US-1 (S Ridgewood Avenue) and South Palmetto Avenue, ensuring significant exposure. Built in 1954, the single-story building previously housed an 80-seat restaurant and includes all existing restaurant equipment, including kitchen equipment and a walk-in cooler. The property is being sold "As Is" with no warranties. However, significant redevelopment potential exists. Should the existing structure be demolished, the site offers credits for both County Road Impact Fees and City Water/Sewer Impact Fees, streamlining the construction of a new building. Furthermore, a pre-approved curb cut to US-1 is already in place. The lot size is a generous 39,900.96 square feet, offering ample space for various uses. This property presents a unique chance to acquire a well-located commercial space in a thriving area, ideal for either continued restaurant operation or complete redevelopment. The asking price is $385,000. The property is zoned for commercial use and is located in Volusia County, Florida, zip code 32119.
Property profile
VerifiedCap rate & NOI
Current use
-
Restaurant
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the South Daytona market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
BA · South Daytona, FLZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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