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Property profile & analytics
FOR LEASE
Community centers
2311 S Ridgewood Ave Edgewater, FL 32141
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-1984985
For Lease
1 / 30
$5,000/Mo
2311 S Ridgewood Ave, Edgewater, FL 32141
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,260 SF
Lot
3.13 ac (136,343 SF)
Zoning code
B3
APN
8402-44-00-0020
UPID
US18-1984985
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
-
Pelican Plaza Shopping Center & Mall
-
Kid City USA - Edgewater Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.84M
Comparable Approach
Comparable
$6.18M
Blend (final)
Blend
$6.14M
Owner & transaction history
Pelican Plaza LLC · 7 yrs held
Pelican Plaza LLC
since 2019
5 recorded transactions
Zoning & alternative use
B3 · Edgewater, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.3M
+38.8%
Medical building
$5.4M
+3.9%
Commercial (general)
$5.4M
+2.6%
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%
$7,405,000
6.5%
$6,835,000
7%
$6,345,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$5,240,000
Current use
AUTO REPAIR, GARAGE
$7,270,000
Change: +39% · Conversion: Difficult
MEDICAL BUILDING
$5,445,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,370,000
Change: +3% · Conversion: Easy
RETAIL STORES
$5,160,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$6.14M
Range $5.53M – $6.75M · ±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
$30,456
Tax year 2023
Assessed value
$1,563,130
Assessed 2023
Previous assessed
$1,455,578
+7.4% YoY
Effective rate
1.95%
On assessed value
Assessed land
$490,835
Assessed improvement
$1,072,295
Land market value
$490,835
Improvement market value
$1,072,295
Total market value
$1,563,130
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
16
Total area
29,260 SF
Lot
3.13 ac (136,343 SF)
Zoning code
B3
APN
8402-44-00-0020
UPID
US18-1984985
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$5.4M
COMMERCIAL (GENERAL)
Est. value
$5.4M
RETAIL STORES
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
16
Lot
3.13 ac
Current owner
From public records · entity-resolved
Pelican Plaza LLC
Entity
Mailing address
20200 W DIXIE HWY STE #902, AVENTURA, FL 33180-1926
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2019
$1,650,000
Pelican Plaza LLC
Across The Pond Developments L
Warranty Deed
$1,155,000 · Across The Pond Dev LLC
Mar 6, 2012
$1,225,000
Across The Pond Devs LLC
Carder,james C
Warranty Deed
$350,000 · Carder Rosemary Trust (pt)
Aug 9, 2005
—
Carder Rosemary Trust
Carder,james C & Rosemary
Quit Claim Deed
related
—
—
—
James C Carder SR.
—
Deed Of Trust
related
$473,840 · Friends Bank
—
—
James C Carder SR.
—
Deed Of Trust
related
$476,479 · Friends Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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