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    2323 S Ridgewood Ave South Daytona, FL 32119
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    2323 S Ridgewood Ave South Daytona, FL 32119

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    • Grocery and convenience stores
    • 2,407 SF
    • 0.66 lot acres
    For Sale
    $695,000
    View Listing →
    South Daytona Retail Opportunity For Sale
    $695,000
    2,407 SF

    South Daytona Retail Opportunity

    NNN leased convenience store with high visibility and traffic.

    2323 S RIDGEWOOD Avenue, South Daytona, FL 32119
    View Listing
    Property ID
    US19-0381422
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2323 S Ridgewood Ave

    Year built
    1962
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.66 lot acres
    Property size
    2,407 SF
    Zone code
    BA
    Property type
    Grocery and convenience stores
    APN
    5344-12-00-0400
    APU
    534412000400

    Description

    This exceptional South Daytona, Florida commercial property presents a lucrative investment opportunity. Located at 2323 S Ridgewood Avenue, this 2,407 square foot retail building sits on a prominent corner lot with high visibility and exceptional traffic counts, boasting 28,500 AADT. Currently operating as a convenience store under a triple net (NNN) lease extending until 2035, this property offers immediate income potential. The building, constructed in 1962, is ideally situated across from Publix and Sunshine Park Mall, ensuring consistent customer flow. The property's zoning allows for a variety of uses, including restaurants, retail shops, or offices, providing flexibility for future development. The asking price is $695,000. This is a turnkey operation with a long-term lease, making it an attractive investment for those seeking a stable, income-generating asset. Note that gas stations and automotive uses are prohibited per the lease agreement. The property is situated in Volusia County, Florida, zip code 32119. This prime location offers significant potential for growth and return on investment. The property is offered as-is. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -80.9995
    Latitude
    29.168
    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
    $4,395
    $206,640
    $12,329
    $218,969
    -
    $206,640
    $12,329
    $218,969

    Comparable in this City

    • Value Estimation by Request
      1,856 SF

      1980 Ridgewood Ave

      CONVENIENCE STORE • 1,856 SF
      1980 Ridgewood Ave, South Daytona, FL 32119-2239
      View Details
    • Value Estimation
      $530,000
      2,520 SF

      2625 Beville Rd

      CONVENIENCE STORE • 2,520 SF
      2625 Beville Rd, Daytona Beach, FL 32119-1384
      View Details
    • Value Estimation
      $580,000
      2,994 SF

      1999 Nova Rd

      CONVENIENCE STORE • 2,994 SF
      1999 Nova Rd, South Daytona, FL 32119-1734
      View Details
    • Value Estimation
      $5,475,000
      3,080 SF

      1401 Beville Rd

      CONVENIENCE STORE • 3,080 SF
      1401 Beville Rd, Daytona Beach, FL 32119-8110
      View Details
    • Value Estimation by Request
      4,368 SF

      1379 Beville Rd

      CONVENIENCE STORE • 4,368 SF
      1379 Beville Rd, Daytona Beach, FL 32119-1529
      View Details
    • Value Estimation
      $515,000
      3,264 SF

      1800 Nova Rd

      CONVENIENCE STORE • 3,264 SF
      1800 Nova Rd, South Daytona, FL 32119-1730
      View Details

    Similar Nearby for Sale

    • $695,000
      Pending

      South Daytona Retail Opportunity

      NNN leased convenience store with high visibility and traffic.
      2323 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $230,000
      1,150 SF

      Retail Storefront in South Daytona

      Retail storefront in high-traffic area with dispensary option.
      1780 S Nova Rd, South Daytona, FL 32119
      View Details
    • $648,000
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      Clock Tower Plaza For Sale

      Fully rented Clock Tower Plaza in South Daytona, Florida.
      2355 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $112,500
      Pending

      South Daytona Flex Space For Sale

      High-visibility flex space with easy access to major routes.
      1725 S Nova Rd, South Daytona, FL 32119
      View Details
    • Contact for pricing

      Beville Road Commercial Opportunity

      Office, retail, and warehouse spaces available on Beville Road.
      815 Beville Rd, South Daytona, FL 32119
      View Details
    • $700,000
      2,511 SF

      South Daytona Commercial Property

      Prime Beville Road Office Space, $700,000
      905 Beville Rd, South Daytona, FL 32119
      View Details

    Similar Nearby for Lease

    • $3,170 /Mo
      2,200 SF

      Retail Space in South Daytona

      2,200 SF retail space available in established plaza.
      2030 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $20 SF/Yr

      Office/Showroom with Warehouse Space

      Office/Showroom for lease with warehouse space and parking.
      1952 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $14 SF/Yr

      Two-Story Building on Ridgewood Avenue

      Freestanding 12,610 SF building for lease with ample parking.
      2111 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $18 SF/Yr
      1,913 SF

      South Daytona Retail Space for Lease

      Prime Retail Space, 1913 sq ft, Flexible Lease
      927 Beville Rd, South Daytona, FL 32119
      View Details
    • Contact for pricing

      Retail Space in Big Tree Plaza

      2,200 SF retail space for lease in South Daytona.
      2030 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $5,454 /Mo
      18,304 SF

      South Daytona Commercial Showroom Space

      Showroom with perimeter offices and roll-up door for lease.
      2841 S Nova Rd, South Daytona, FL 32119
      View Details
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    South Daytona, FL 32119
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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.

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    2323 S Ridgewood Ave, South Daytona, FL, 32119
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