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

    2798 Ridgewood Ave Edgewater, FL 32141-7524

    • Retail space
    • 9,416 SF
    • 2.15 lot acres
    OFF-MARKET
    Value Estimations
    $1,595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4754781
    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

    • Dollar General / Discount Store
    • Western Union / Bank / Credit Union

    Property Details for 2798 Ridgewood Ave

    Year built
    2010
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.15 lot acres
    Property size
    9,416 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    8402-64-00-0010
    APU
    840264000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,480,000
      6.5%
      $1,365,000
      7%
      $1,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,966,000
      Market price range: $939k - $2.62M
      AI Estimate
      $1,453,000
      Market price range: $392k - $1.75M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,660,000
      Current use
      AUTO REPAIR, GARAGE
      $2,340,000
      Change: +41% Conversion: Difficult
      MEDICAL BUILDING
      $1,750,000
      Change: +5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,730,000
      Change: +4% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,685,000
      Change: +2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Edgewater
    County
    Volusia
    State
    Florida
    Longitude
    -80.886
    Latitude
    28.952
    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
    $16,573
    $224,770
    $640,097
    $864,867
    -
    $224,770
    $640,097
    $864,867

    Comparable in this City

    • Value Estimation
      $2,325,000
      14,107 SF

      3010 Ridgewood Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,107 SF
      3010 Ridgewood Ave, Edgewater, FL 32141-5903
      View Details
    • Value Estimation
      $625,000
      7,000 SF

      3735 Us Hwy 1st 1

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      3735 Us Hwy 1st 1, Edgewater, FL 32141-7234
      View Details
    • Value Estimation
      $1,590,000
      9,984 SF

      1920 Ridgewood Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,984 SF
      1920 Ridgewood Ave, Edgewater, FL 32141
      View Details
    • Value Estimation by Request
      2,748 SF

      2708 Ridgewood Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,748 SF
      2708 Ridgewood Ave, Edgewater, FL 32141-7524
      View Details
    • Value Estimation by Request
      2,400 SF

      2340 Ridgewood Ave

      CONVENIENCE STORE • 2,400 SF
      2340 Ridgewood Ave, Edgewater, FL 32141-4226
      View Details
    • Value Estimation by Request
      4,522 SF

      2130 Ridgewood Ave

      FINANCIAL BUILDING • 4,522 SF
      2130 Ridgewood Ave, Edgewater, FL 32141-4207
      View Details

    Similar Nearby for Sale

    • $799,000

      Edgewater Landmark Restaurant Opportunity

      Turnkey restaurant with equipment and parking in high-traffic area.
      2100 S Ridgewood Ave, Edgewater, FL 32141
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    • $650,000
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      Versatile Commercial Building with New Roof

      Sturdy 4900 SF commercial building with flexible space.
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      Turnkey Auto Repair Opportunity

      Established auto body business and real estate for sale.
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    • $1,100,000
      4,956 SF

      Edgewater Commercial Warehouse

      Prime Edgewater location, high income potential.
      1955 Guava Dr, Edgewater, FL 32141
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    • $700,000
      0.23 Acres

      Turnkey Auto Repair Opportunity

      Established auto body business and real estate in Edgewater, Florida.
      2012 Guava Dr, Edgewater, FL 32141
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    • $295,000
      1,042 SF

      Edgewater Retail Investment Opportunity

      Prime US-1 location, high potential
      2794 Ridgewood Ave, Edgewater, FL 32141
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Edgewater Retail/Warehouse Flex Space

      9,200 SF retail/warehouse space in a rapidly growing corridor.
      3042 S Ridgewood Ave, Edgewater, FL 32141
      View Details
    • $5,000 /Mo

      Retail Space in Growing Edgewater

      Retail space available in a vibrant neighborhood center.
      2311 S Ridgewood Ave, Edgewater, FL 32141
      View Details
    • Contact for pricing
      13,500 SF

      Retail Space in Edgewater Commons

      Retail space available in busy Edgewater shopping center.
      2962-2986 S Ridgewood Ave, Edgewater, FL 32141
      View Details
    • $12,000 /Mo
      8,391 SF

      Turnkey Restaurant Opportunity in Edgewater

      Turnkey restaurant for lease on US Highway 1 in Edgewater.
      4170 Us Highway 1, Edgewater, FL 32141
      View Details
    • $6,000 /Mo

      Warehouse Units with Utilities Included

      Warehouse units featuring walk-through, garage door, sink, and toilet.
      2504 Hibiscus Dr, Edgewater, FL 32141
      View Details
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    2798 Ridgewood Ave
    Edgewater, FL 32141-7524
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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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