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2127-2141 S Ridgewood Ave
Daytona Beach, FL 32119
South Daytona Shopping Center · Retail Property For Sale
Investment Highlights
- Strip Center For Sale
Executive Summary
Value-Add Opportunity! Neighborhood strip center for sale in high-traffic location with excellent parking.
Concrete block construction. New TPO roof in 2018 (as per the owner).
The list price is well below replacement cost ($140/SF).
Center needs to be leased up (currently only 67% occupied with many current tenants paying below market rents).
Currently 67% occupied. A city code lien is preventing the owner from leasing any of the vacant units. The building is in code compliance, but the fines will be paid at closing. Once the fines are paid, the new owner will be free to rent the vacant spaces.
After renovation/clean-up, projected income is comfortably $13 per square foot net ($17/SF modified gross). or $100,200-$116,900/year NET income.
Concrete block construction. New TPO roof in 2018 (as per the owner).
The list price is well below replacement cost ($140/SF).
Center needs to be leased up (currently only 67% occupied with many current tenants paying below market rents).
Currently 67% occupied. A city code lien is preventing the owner from leasing any of the vacant units. The building is in code compliance, but the fines will be paid at closing. Once the fines are paid, the new owner will be free to rent the vacant spaces.
After renovation/clean-up, projected income is comfortably $13 per square foot net ($17/SF modified gross). or $100,200-$116,900/year NET income.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
9,968 SF
Building Class
B
Year Built
1978
Price
$1,627,657 CAD
Price Per SF
$163.29 CAD
Cap Rate
2.76%
NOI
$44,923 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
1.03 AC
Opportunity Zone
Yes
Zoning
COM - Commercial
Parking
50 Spaces (5.02 Spaces per 1,000 SF Leased)
Frontage
Property Taxes
| Parcel Number | 5344-16-00-0230 | Improvements Assessment | $291,500 CAD |
| Land Assessment | $370,705 CAD | Total Assessment | $662,205 CAD |
Property Taxes
Parcel Number
5344-16-00-0230
Land Assessment
$370,705 CAD
Improvements Assessment
$291,500 CAD
Total Assessment
$662,205 CAD
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