2900 Ridgewood Ave Edgewater, FL 32141-7526

Property Details for 2900 Ridgewood Ave

Lot size

0.65 lot acres

Zone code

B5

Property type

Commercial land

APN

8411-08-00-0031

APU

841108000031

Description

This exceptional investment opportunity presents a newly constructed Popeyes restaurant in Edgewater, Florida. The property boasts a 2,126 square foot building on a 0.65-acre lot, situated on an outparcel of a Publix-anchored shopping center. This prime location on Ridgewood Avenue benefits from high visibility and significant daily traffic, with approximately 22,000 vehicles passing by daily. The strong demographics are further enhanced by a population of over 35,000 residents within a 5-mile radius, exhibiting positive growth trends. The property is offered under an absolute NNN lease, eliminating landlord responsibilities. The lease commenced December 14, 2024, and has a remaining term of 20 years, with attractive annual rent increases of 1.75%. The current Net Operating Income (NOI) is $130,000, resulting in a 5.15% cap rate. The asking price is $2,524,270, translating to a price per square foot of $1,187.33. The lease includes four, 5-year renewal options, providing long-term stability and predictable income. This is an ideal investment for those seeking a low-maintenance, high-return property in a thriving coastal market, conveniently located just 6 miles from New Smyrna Beach and 21 miles from Daytona Beach. The building was constructed in 2024 and enjoys 100% occupancy.