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Property profile & analytics
FOR SALE
Commercial land
2538 S Ridgewood Ave South Daytona, FL 32119
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US19-0377204
For Sale
1 / 6
$749,000
2538 S Ridgewood Ave, South Daytona, FL 32119
View Listing →
Property summary
AI-generated overview
This exceptional 6.43-acre commercial property, located at 2538 S Ridgewood Avenue in South Daytona, Florida (32119), presents a unique investment opportunity. The expansive 107,244.72 square foot lot boasts frontage on both Ridgewood Avenue to the east and Carmen Street to the west, offering excellent visibility and accessibility. Zoned for high-density development, this land is ideally suited for a multifamily project, with potential for upwards of 150 apartment units. The property's location in the business-friendly city of South Daytona, adjacent to the International Academy, ensures a strong potential tenant base. The seller is open to collaborating with qualified developers, making this an attractive proposition for those seeking a partnership opportunity. This is a rare chance to acquire a significant parcel of land in a thriving area with substantial development potential. The total square footage of the property is 279,655 square feet. Serious inquiries only.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,877 SF
Lot
2.46 ac (107,246 SF)
Zoning code
BR
APN
5333-07-00-0010
UPID
US19-0377204
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Varol Investments INC · 21 yrs held
Varol Investments INC
since 2005
3 recorded transactions
Zoning & alternative use
BR · South Daytona, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 South Daytona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Daytona 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,637
Tax year 2023
Assessed value
$131,376
Assessed 2023
Previous assessed
$131,376
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$131,376
Land market value
$131,376
Total market value
$131,376
Applied tax rate
401.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Sale
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Total area
3,877 SF
Lot
2.46 ac (107,246 SF)
Zoning code
BR
APN
5333-07-00-0010
UPID
US19-0377204
Jurisdiction
VOLUSIA
Zoning & alternative use
BR · South Daytona, FLZoning BR · permitted uses
BR · South Daytona, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Lot
2.46 ac
Current owner
From public records · entity-resolved
Varol Investments INC
Entity
Mailing address
2550 S RIDGEWOOD AVE, SOUTH DAYTONA, FL 32119-3536
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2005
$400,000
Varol Investments INC
Hp Properties
Warranty Deed
$302,133 · Hp Properties
Apr 26, 2004
$200,000
H P Properties
Cosentino,alfred S
Grant Deed
—
—
—
Varol Investments INC
—
Deed Of Trust
related
$3,000,000 · Wachovia Bank NA
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.
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