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Extensively Renovated Non-Operational Hotel 640 S Ridgewood Ave 24 Hotel Rooms Online Auction Sale Daytona Beach, FL 32114
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Investment Highlights
- Fully furnished non-operating hotel with robust potential for multifamily, assisted living, day care, bed & breakfast, hotel/motel, office, & retail.
- Outstanding building condition with extensive recent capital improvements completed, introducing a new key card system, and mostly new HVAC systems.
- Supported by Daytona Beach’s robust tourism market, which brought 4.5 million visitors and $3.3 billion in spending during 2024.
- Exceptional visibility to 30,000 vehicles daily along Ridgewood Avenue, a major north-south corridor that runs through Daytona Beach.
- Includes significant FF&E such as new beds, curtains, and appliances in guest rooms, new gym equipment, and a fully furnished hospitality suite.
- High-growth area that has experienced population gains of 12% since 2020, with annual consumer spending of more than $1.4 billion.
Executive Summary
Colliers, as the owner’s exclusive advisor, is pleased to present for sale 640 S Ridgewood Avenue (the “Property”). The former Budget Inn was converted to a treatment recovery facility about 2 years ago and operated in that capacity until December 2025. The Property offers a compelling opportunity for investors to reposition it for use such as a hotel/motel, multifamily, community residential home, adult day care, child care facility, bed and breakfast, office, retail, etc.
The facility is located at Ridgewood Avenue (U.S. Route 1), Daytona Beach, Florida 32114, and features excellent visibility and exposure to 30,000 AADT from U.S. Route 1 (Ridgewood Ave) in the Deltona– Daytona Beach–Ormond Beach MSA. Proximity to Daytona public beaches, Daytona Beach International Airport, Daytona Speedway, and destination shopping centers along LPGA Blvd and International Speedway Boulevard provides outstanding demand drivers and a built-in amenity base.
The facility is located at Ridgewood Avenue (U.S. Route 1), Daytona Beach, Florida 32114, and features excellent visibility and exposure to 30,000 AADT from U.S. Route 1 (Ridgewood Ave) in the Deltona– Daytona Beach–Ormond Beach MSA. Proximity to Daytona public beaches, Daytona Beach International Airport, Daytona Speedway, and destination shopping centers along LPGA Blvd and International Speedway Boulevard provides outstanding demand drivers and a built-in amenity base.
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Property Information
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Register to Bid Instructions
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | Building Size | 11,875 SF |
| Sale Condition | Auction Sale | No. Rooms | 24 |
| Type of Ownership | Fee Simple | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 1952 |
| Property Subtype | Hotel | Parking Ratio | 1.94/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.88 AC | Parcel Number | 5339-15-00-0040 |
| Zoning | 02T2 | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 11,875 SF |
| No. Rooms | 24 |
| No. Stories | 1 |
| Year Built | 1952 |
| Parking Ratio | 1.94/1,000 SF |
| Corridor | Exterior |
| Zoning | 02T2 |
| Parcel Number | 5339-15-00-0040 |
Amenities
- High Speed Internet Access
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 24 | $122.00 | - |
Fairly walkable
50/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
About Daytona Area
The Daytona area on Florida’s Atlantic Coast includes some of the state’s most famous beaches while providing convenient access to nearby historical attractions and theme parks.
Outdoor enthusiasts are drawn to the area’s beaches as well as water sports from kayaking and snorkeling to offshore fishing. The more adventurous can rent surfboards and ride the waves, while golfers will find challenging play on one of the area’s many golf courses.
Daytona International Speedway, known as the World Center of Speed, is home to numerous events headlined by the annual Daytona 500 NASCAR race. Speedway tours are available and include admission to the Motorsports Hall of Fame of America.
On the campus of Flagler College is the former Hotel Ponce de Leon. The Ponce, listed as a National Historic Landmark, was built in 1888 and is considered one of the finest examples of Spanish Renaissance architecture. Tours of the former hotel include 79 Louis Comfort Tiffany Stained Glass windows, handcrafted Austrian crystal chandeliers, and a clock containing the largest piece of intact white onyx in the Western Hemisphere.
The Daytona area is an excellent base for day trips to nearby attractions including historic St Augustine and the Castillo de San Marcos National Monument, Kennedy Space Center, and Orlando’s theme parks.
Daytona Beach International Airport provides scheduled service on American Airlines and Delta Air Lines. The area is also less than an hour’s drive from Jacksonville International Airport and Orlando Sanford International Airport. For road-trippers, the area is easily accessed via Interstate 95, Interstate 4, and Florida’s A1A.
Sale Advisor
Sale Advisor
Joe Rossi, CCIM, Executive Vice President
Joe Rossi, CCIM, is the Executive Vice President of Investment Services at Colliers International in Central Florida, leading Colliers’ Capital Markets platform with a focus on industrial, office, flex and medical properties throughout the State of Florida. Joe, a 28-year veteran, is a highly-regarded professional within the Florida real estate investment markets and has established a vast network of investors and financial contacts. Joe has spent the majority of his professional career working extensively to represent institutions, private equity, individual investors, and owner/operators to procure the best possible outcome for their acquisition/disposition needs. Joe provides expert guidance and advisory services to his clients throughout all stages of their ownership cycle including asset management, portfolio analysis, sale advisory and consulting. Over his career, Joe has generated more than $900 million in transactional sales volume across more than 8.1M square feet of space.
Prior to joining Colliers, Joe's business background includes:
Prior to joining Colliers, Joe's business background includes:
- Senior Vice President – Investment Services at Lincoln Property Company for four years where he handled office, industrial and retail investment sales. He closed transactions in excess of $64M across 15 transactions, acting as a receiver where needed.
- Senior Vice President – Investment Services Group with Grubb & Ellis for 6.5 years and was a key member of their Financial Services Asset Management and Distressed Property Services groups with over $170 million in 32 transactions.
- Manager - Real Estate Investments at The St. Joe Company from 1998-2004, directing the disposition of over 1M square feet of commercial properties.
Real Estate/Budget Analyst for Koger Equity, performing underwriting analysis and research across more than 1.6 million square feet of office development projects and 2 million square feet of office acquisitions. Joe was also responsible for the budgeting and cash flow projections for the entire 36 million square foot portfolio.
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Auction Contact
Cheri Mascitelli
Contact
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Contact the Sale Advisor
Extensively Renovated Non-Operational Hotel | 640 S Ridgewood Ave
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Extensively Renovated Non-Operational Hotel | 640 S Ridgewood Ave
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