Listed by AiCRE Partners
$2,500,000
1701 S Ridgewood Ave
Details
Property Type Retail, Multifamily
Sub Type Auto Shop, Apartment Building
Square Footage 9,835
Cap Rate 5.31%
NOI $132,700
Tenancy Single
Lease Type NNN
Lease Term 5
Rent Bumps Yes
Lease Options 5-YEAR
Year Built 1969
Year Renovated 2007, 2022
Buildings 1
Lot Size (SqFt) 39,285
Tenant Credit Corporate Guarantee
Ground Lease No
Retail | 5.31% CAP | 9,835 SqFt
Marketing description
Presenting a unique Retail Automotive Repair & mixed-use investment opportunity located along the high-traffic corridor of South Ridgewood Avenue in Edgewater, Florida. This versatile property seamlessly blends a robust retail automotive repair facility with residential apartments, offering an investor multiple diverse income streams, immediate cash flow, and strong long-term value retention. The commercial component features a fully equipped, 6-bay retail auto repair building spanning 9,835 SF, situated on an expansive 39,285 SF lot. Positioned in a market with strong comparable profiles. The Boulevard Tire Center features Bridgestone/Michelin and Valvoline brands, this location is well-established for automotive services and retail success minutes from The Indian River and Mosquito Lagoon Aquatic Reserve and a short drive to several beaches and the ocean.
Investment highlights
- Prime Auto Repair & Mixed-Use Investment - The property features a unique blend of retail automotive service and residential multifamily components, providing investors with diversified income streams and multiple avenues for value creation. The combination of stable retail tenancy and residential upside offers a balanced investment profile with both current cash flow and future growth potential.
- Established Automotive Tenant - The retail portion of the property is fully leased to Boulevard Tire Center, a highly recognized automotive and commercial tire service provider with a significant presence throughout Florida. Founded in 1968, Boulevard Tire has evolved into one of the state's leading tire and fleet service operators, serving both individual consumers and commercial transportation clients through an extensive network of locations.
- Proven Regional Operator - Boulevard Tire operates 9 retail tire and automotive service centers, 28 commercial truck service facilities, and 4 Bandag retread plants throughout Florida. Its long-standing market presence, diverse customer base, and specialized commercial services provide a strong operating foundation and reinforce tenant stability.
- Fresh Long-Term Lease Commitment - The tenant recently executed a new 5-year lease term commencing April 1, 2026, demonstrating continued commitment to the location. The lease includes a 5-year renewal option and features 2% annual rent escalations, providing built-in income growth and a hedge against inflation.
- Immediate Residential Value-Add Opportunity - The apartment component is currently owner-occupied, creating an attractive opportunity for new ownership to lease the units at market rates. This presents immediate NOI enhancement potential through residential income generation without requiring significant capital investment.
- Diversified Income Profile - Unlike traditional single-tenant assets, the property benefits from multiple revenue streams generated by both commercial and residential uses. This diversification can help mitigate vacancy risk while creating flexibility for future ownership strategies.
- Excellent Capital Improvements - Ownership has demonstrated strong stewardship through significant property upgrades, including a newer upper roof installed in 2007, a new lower roof completed in 2022, and comprehensive apartment renovations performed in 2007. These improvements reduce near-term capital expenditure requirements and support long-term asset performance.
- Essential Service Retail Use - As an automotive repair and tire service facility, the property is occupied by an essential-service business that benefits from recurring consumer demand regardless of broader economic conditions. Vehicle maintenance and repair services remain a necessity-driven retail category that supports long-term occupancy and operational stability.
Listing Contacts
Listed by AiCRE Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$132,700.00
$11,058.33/mo
Valuation Metrics
0
DSCR
5.31%
Cap Rate
5.31%
ROI
Map
Zoning
B-3 CommercialSpecial CommercialHighway Commercial
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View all 81 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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