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    503 N Ridgewood Ave Daytona Beach, FL 32114
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    503 N Ridgewood Ave Daytona Beach, FL 32114

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    • Apartment buildings
    For Sale
    $975,000
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    Daytona Beach Income Property For Sale
    $975,000

    Daytona Beach Income Property

    Eight-unit income property in a central Daytona Beach location.

    503 N Ridgewood Ave, Daytona Beach, FL 32114
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    Property ID
    US19-0455155
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 503 N Ridgewood Ave

    Property type
    Apartment buildings

    Description

    Whether you're looking to purchase one of my listings or explore opportunities elsewhere across the country, securing financing has never been easier. By visiting https://dinododani.commloan.com/ , you can apply for a loan online quickly and effortlessly. Contact the lender for anything you are working on: Ed Thach- Director 602-390-6800 ethach@ commloan.com Bringing Efficiency To Commercial Real Estate Lending 9112 E Verde Grove View, Suite 105 Scottsdale, AZ 85255 🌴 Exclusive Investment Opportunity in Daytona Beach, Florida 🌴 503 N Ridgewood Ave, Daytona Beach, FL Prime Location with 8 Income-Generating Units Embark on a remarkable investment journey with this exclusive property at 503 N Ridgewood Ave in beautiful Daytona Beach. This strategically located gem offers not just a property but a pathway to substantial income through its eight well-maintained and income-generating units. Property Highlights: Central Location: Situated in the heart of Daytona Beach, this property enjoys proximity to the beach, river, highways, and major attractions. 8 Income-Generating Units: The property consists of eight units, each contributing to a steady stream of rental income. Turnkey Investment: With fully occupied units, this investment is ready to generate immediate returns. Why Invest in 503 N Ridgewood Ave: Stable Rental Market: Daytona Beach's consistent demand for housing ensures a reliable tenant pool. Low Vacancy Rates: The property's prime location and well-maintained units contribute to low vacancy rates. Invest with Confidence: With a total of eight income-generating units at 503 N Ridgewood Ave, you're securing a lucrative slice of the Daytona Beach real estate market. To explore this exclusive investment opportunity and take the next step in expanding your portfolio, contact Dino Dodani , a trusted professional in the real estate industry. Contact: 📞 Dino Dodani - 3866790888 Don't miss this chance to own and profit from a prime multi-unit property in sunny Daytona Beach, Florida! Reach out to Dino Dodani for more information or to schedule a viewing of this lucrative investment. 🏡☀️

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.027215
    Latitude
    29.219814

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      Daytona Beach Multifamily Investment Opportunity

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      Multifamily Property with Development Potential

      15-unit property with land for 8 additional units.
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      Extended Stay Motel Near I-4

      Extended-stay motel with apartment, near I-4 and Daytona Beach.
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      Renovated Multifamily Investment Opportunity

      34 units in 3 renovated compounds near Daytona Beach.
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      Daytona Beach Multifamily Investment Opportunity

      15-unit property with expansion potential in a prime location.
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      Daytona Beach Multifamily Investment

      Ten-unit multifamily property with income potential in Daytona Beach.
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      Daytona Beach Development Site

      6.56 acre development site near Clyde Morris Blvd.
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      Multifamily Property with Development Potential

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      Extended Stay Motel Near I-4

      Extended-stay motel with apartment, near I-4 and Daytona Beach.
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    Similar Nearby for Lease

    • $21 SF/Yr

      Downtown Daytona Beach Office Suite

      2,000 SF office space in Downtown Daytona Beach.
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      Retail and Warehouse Space Available

      Retail and warehouse spaces for rent near Daytona International Speedway.
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      Downtown Daytona Beach Former Bank

      Former bank building in downtown Daytona Beach with ample parking.
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      Downtown Daytona Beach Office Buildings

      Two office buildings available for rent in downtown Daytona Beach.
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      Daytona Beach Commercial Land

      Easy access to major roads and Daytona attractions.
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      Retail Space Near Daytona Speedway

      Retail space available in regional shopping destination near Daytona Speedway.
      2500 W International Speedway Blvd, Daytona Beach, FL 32114
      View Details
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    Daytona Beach, FL 32114
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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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