Property profile

2309 S Ridgewood Ave South Daytona, FL 32119

FOR SALE
Turn key restaurants
Property ID
US18-0696072
2,170 SF 0.92 ac lot Built 1954
Individually Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

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

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1954
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 2,170 SF
Lot 0.92 ac (39,903 SF)
Zoning code BA
APN 5344-13-00-0460
UPID US18-0696072

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

2309 S Ridgewood Ave South Daytona, FL 32119
South Daytona metro Census 82401 DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$235k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$235k

Owner & transaction history

since 2024
6 recorded transactions
2024
Price N/A
2012
Price N/A
1999
$225,000
1998
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

BA · South Daytona, FL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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