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Property profile & analytics
OFF-MARKET Estimated value $565,000
Turn key restaurants

613 Ridgewood Ave Edgewater, FL 32132-1651

1,485 SF 0.16 ac lot Built 1961
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US18-0295817
Property summary
AI-generated overview

This exceptional commercial property, situated at 613 N Ridgewood Avenue in Edgewater, Florida, presents a unique investment opportunity. Boasting a prime location on busy US Highway 1, directly on the city line between New Smyrna Beach and Edgewater, this 0.14-acre lot benefits from an impressive average daily traffic count of 27,500 vehicles (based on 2022 FDOT statistics). The property's B-3 Highway Commercial zoning allows for a wide range of business uses, offering significant flexibility for potential buyers. Previously operating as a successful restaurant, the property is being sold "as-is" and includes existing inventory. This inventory encompasses a comprehensive commercial kitchen setup, featuring a gas stove/burners, griddle, fryers, three deep freezers, three coolers, a 500-pound ice machine, and ample prep tables. The existing furniture and fixtures are also included in the sale, providing a head start for new ventures. This property's high visibility, substantial traffic flow, and versatile zoning make it an ideal location for a variety of commercial enterprises. The asking price is $625,000. Don't miss this chance to acquire a well-positioned commercial property with significant potential.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1961
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,485 SF
Lot 0.16 ac (7,000 SF)
Zoning code B3
APN 7450-05-00-0290
UPID US18-0295817
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$565k
CAP Approach CAP
by Request
Comparable Approach Comparable
$752k
Blend (final) Blend
$565k
Owner & transaction history
Lilly Rose Holdings LLC · 2 yrs held
Lilly Rose Holdings LLC
since 2024
Last sale
$565,000
7 recorded transactions
2024
$565,000
2019
$225,000
2019
Price N/A
2017
Price N/A
2014
Price N/A
2010
Price N/A
2009
Price N/A
Zoning & alternative use
B3 · Edgewater, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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