208 Ridgewood Ave - Hospitality FOR SALE


Daytona Beach, FL 32117- Greater Daytona
$2,300,000 USD
386-689-2462
208 Ridgewood Ave, Daytona Beach, FL for Sale
$2,300,000 USD
Hospitality - FOR SALE
1/16
null | Request Cap Rate

208 Ridgewood Ave
Daytona Beach, FL 32117
Greater Daytona


OVERVIEW

Fully Renovated Multi-Use Hospitality & Residential Investment Opportunity (owner financing available call for terms) Exceptional income-producing hospitality and residential investment opportunity consisting of two separate parcels(208/216 Ridgewood) featuring a fully renovated motel/hotel operation, three residential homes, and multiple additional cabin-style units. The property has undergone an extensive renovation, with improvements including new roofs, new HVAC systems, new flooring, fresh interior and exterior paint, updated finishes, and more. The renovation has recently been completed, and the property is not currently occupied by new tenants. The hospitality component offers a versatile mix of units, including two 2-bedroom/2-bath units, three additional 2-bedroom/2-bath units, and fourteen 1-bedroom/1-bath units. In addition, there are two detached cabin-style units, including two 1-bedroom units sharing a kitchen and bathroom, as well as another detached with two 1-bedroom/1-bath cabin-style unit with a full kitchen. The residential component includes three separate homes. The first is a 2-bedroom, 2-bath home with a 2-car garage. While this residence has not been fully updated, it features a new roof and provides an opportunity for additional value through future improvements. The second home offers 5 bedrooms and 3 bathrooms and has been fully updated, including a new roof, new HVAC system, new flooring, and additional renovations. The third home features 7 bedrooms and 2 bathrooms and has also been fully renovated with a new roof, new HVAC system, new flooring, and additional improvements. The property provides 23 parking spaces, with the parking lot recently re-coated, plus substantial additional space that may provide opportunities for future parking expansion and/or additional growth, subject to applicable approvals. The property is fenced along the sides and rear, providing added privacy and security. With multiple residential and hospitality units, two separate parcels, extensive recent renovations, ample parking, and additional land for potential expansion, this property offers a unique opportunity for an investor seeking a diversified income-producing asset with significant improvements already completed. Property Highlights: Two separate parcels Fully renovated hospitality property 3 residential homes Multiple cabin-style units 23 existing parking spaces Recently recoated parking lot Additional space for parking and potential growth New roofs throughout the renovated properties New HVAC systems New flooring Interior and exterior paint Fenced along sides and rear Renovation recently completed Currently occupied by new tenants Multiple income-producing components Potential for future value-add opportunities

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$506 USD /SF

# OF ROOMS

11

PRICE/ROOM

$209,091 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Colonial Motel

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1949

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

09B4

APN/PARCEL ID

4244-01-28-0050

ASK ABOUT THIS PROPERTY

Mike WilliamsRealty Pros AssuredMore Info
386-689-2462

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Mike WilliamsRealty Pros AssuredMore Info
386-689-2462

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.