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

    2400 Ridgewood Ave South Daytona, FL 32119-3024

    • Community centers
    • 251,665 SF
    • 22.56 lot acres
    OFF-MARKET
    Last Sale
    Oct 06, 2021
    Value Estimations
    $3,980,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0140818
    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

    • Isalis / Gift Shop / Boutique
    • Party City / Party Store / Balloon Store
    • Skunk Funk / Corporate Campus / Wholesaler
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 2400 Ridgewood Ave

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    22.56 lot acres
    Property size
    251,665 SF
    Zone code
    BR
    Property type
    Community centers
    APN
    5344-08-03-0010
    APU
    534408030010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -81.0007
    Latitude
    29.165
    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
    $257,743
    $3,095,133
    $9,745,125
    $12,840,258
    -
    $3,095,133
    $9,745,125
    $12,840,258

    Comparable in this City

    • Value Estimation
      $4,540,000
      25,720 SF

      927 Beville Rd

      MINI-MALL • 25,720 SF
      927 Beville Rd, South Daytona, FL 32119-1768
      View Details
    • Value Estimation
      $1,770,000
      13,500 SF

      2027 Ridgewood Ave

      MINI-MALL • 13,500 SF
      2027 Ridgewood Ave, South Daytona, FL 32119-2240
      View Details
    • Value Estimation
      $550,000
      4,050 SF

      306 Big Tree Rd

      MINI-MALL • 4,050 SF
      306 Big Tree Rd, South Daytona, FL 32119-2922
      View Details
    • Value Estimation
      $1,000,000
      9,815 SF

      2271 Ridgewood Ave

      MINI-MALL • 9,815 SF
      2271 Ridgewood Ave, South Daytona, FL 32119-3017
      View Details
    • Value Estimation
      $575,000
      4,480 SF

      2335 Ridgewood Ave

      MINI-MALL • 4,480 SF
      2335 Ridgewood Ave, South Daytona, FL 32119-5003
      View Details
    • Value Estimation
      $505,000
      3,870 SF

      2355 Ridgewood Ave

      MINI-MALL • 3,870 SF
      2355 Ridgewood Ave, South Daytona, FL 32119-5004
      View Details

    Similar Nearby for Sale

    • $799,000
      4,926 SF

      South Daytona Multi-Use Property

      16-unit income-producing property, owner financing available.
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    • $699,000
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      Established Strip Mall For Sale

      Fully rented strip mall with long-term tenants and great road frontage.
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    • $648,000
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      Clock Tower Plaza For Sale

      Fully rented Clock Tower Plaza in South Daytona, Florida.
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    • $1,799,000
      1.90 Acres

      US-1 Waterfront Commercial Land

      1.9 Acres, High Traffic, Development Potential
      1848 Ridgewood Ave, South Daytona, FL 32119
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    • $369,000

      South Daytona Commercial Land - $369K

      1.2 Acres, High-Traffic Location, River Views
      2690 Ridgewood Ave, South Daytona, FL 32119
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    • Contact for pricing
      12,778 SF

      Beville Road Commercial Opportunity

      Office, retail, and warehouse spaces available on Beville Road.
      815 Beville Rd, South Daytona, FL 32119
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      39,600 SF

      Office/Flex Space For Lease

      Office/Flex space available in a well-kept industrial park.
      933 Beville Rd, South Daytona, FL 32119
      View Details
    • $5,100 /Mo
      15,171 SF

      South Daytona Office Suites For Lease

      Prime Office Space, Flexible Sizes Available
      1635 Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $3,170 /Mo
      2,200 SF

      Retail Space in South Daytona

      2,200 SF retail space available in established plaza.
      2030 S Ridgewood Ave, Daytona Beach, FL 32119
      View Details
    • $13,376 /Mo
      14,348 SF

      South Daytona Mixed-Use Commercial Building

      14,368 SF mixed-use building for lease in South Daytona.
      2040 S Ridgewood Ave, Daytona Beach, FL 32119
      View Details
    • $17 SF/Yr
      2,200 SF

      Big Tree Plaza Retail Space

      Prime Retail Space, US Hwy 1
      2030 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
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    2400 Ridgewood Ave
    South Daytona, FL 32119-3024
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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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