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Property profile & analytics
OFF-MARKET
Estimated value
$1,585,000
Retail properties & Spaces
400 Ridgewood Ave Edgewater, FL 32132-7000
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-5588092
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,607 SF
Lot
1.74 ac (75,638 SF)
Zoning code
B3
APN
7452-09-01-0011
UPID
US18-5588092
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
-
United States Postal Service Post Office Logistics Service
-
All Surface Dustless Blasting Painting Service Renovation Specialist
-
Classic Barber Shop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.59M
Owner & transaction history
Apif Florida LLC · 7 yrs held
Apif Florida LLC
since 2019
2 recorded transactions
Zoning & alternative use
B3 · Edgewater, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.1M
+72.3%
Medical building
$1.6M
+29.0%
Neighborhood: shopping center
$1.5M
+24.1%
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 Edgewater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edgewater 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$1,240,000
Current use
AUTO REPAIR, GARAGE
$2,140,000
Change: +72% · Conversion: Difficult
MEDICAL BUILDING
$1,600,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,540,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$1,520,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,520,000
Change: +22% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,115,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$184 / SF
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
$20,106
Tax year 2023
Assessed value
$1,049,125
Assessed 2023
Previous assessed
$998,133
+5.1% YoY
Effective rate
1.92%
On assessed value
Assessed land
$364,537
Assessed improvement
$684,588
Land market value
$364,537
Improvement market value
$684,588
Total market value
$1,049,125
Applied tax rate
604.0000
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
3
Total area
8,607 SF
Lot
1.74 ac (75,638 SF)
Zoning code
B3
APN
7452-09-01-0011
UPID
US18-5588092
Jurisdiction
VOLUSIA
Zoning & alternative use
B3 · Edgewater, FL
Zoning B3 · permitted uses
B3 · Edgewater, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edgewater. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
3
Lot
1.74 ac
Current owner
From public records · entity-resolved
Apif Florida LLC
Entity
Mailing address
727 MT AIRY, MOUNT AIRY, MD 21771
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2019
$1,280,570
Apif Florida LLC
Letter Rip LLC
Special Warranty Deed
$425,000,000 · Citizens Bank NA
Apr 29, 2015
$850,000
Letter Rip LLC
Hart Land & Cattle Co INC
Warranty Deed
$543,937 · The Richwood Banking Co
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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