114 E Park Avenue
Edgewater, FL 32132

Listed at $849,900

Details

MLS# 1228658
Residential - Single Family
Status Active
2 Bedrooms
1 full Bathrooms
947 Square Feet
0 Lot Size
Built in 1940
Local Schools

Description

An investment opportunity is only as valuable as the number of ways it can create returns. This three-parcel assemblage in the heart of Edgewater delivers exactly that. Offered as a single sale, 108, 112, and 114 E Park Avenue encompass approximately 25,850 square feet (0.59± acres) of contiguous land just moments from the Indian River, creating a rare mixed-use opportunity in one of East Volusia County's most active waterfront corridors. Whether your strategy is cash flow, redevelopment, business expansion, or long-term land appreciation, this package offers multiple paths to value creation.The commercial anchor at 108 E Park Avenue is...read more currently operating as a 1,592-square-foot bait and tackle shop, thoughtfully divided into three functional spaces and positioned on the direct route to George R. Kennedy Memorial Parks public boat launch, fishing pier, and kayak launch, where anglers, boaters, and paddlers access the Indian River Lagoon every day. Edgewater has also earned recognition as Volusia Countys first designated Blueway Community, drawing outdoor recreation enthusiasts year-round. The existing business benefits from built-in waterfront traffic, but the commercial zoning creates opportunities far beyond its current use. A marine supply store, kayak or paddleboard outfitter, fishing charter headquarters, waterfront café, grab-and-go seafood market, boat accessory retailer, bicycle rental operation, outdoor apparel shop, or specialty convenience concept could all capitalize on the propertys location. Alternatively, the structure may be converted back to residential use (subject to applicable approvals), allowing investors to incorporate it into a three-home rental portfolio.Adjacent to the commercial parcel, 112 E Park Avenue features a charming 1925-built, 2-bedroom, 1-bath residence offering 716 square feet on a 50 ?? 139 lot, while 114 E Park Avenue (1940-built) includes a 947-square-foot, 2-bedroom, 1-bath home with a bonus room, private pool, and sits on a 100 ?? 139 double lot. The additional land creates immediate flexibility for expansion, construction of an additional residence (subject to approvals), enhanced outdoor amenities, or future redevelopment.The true value, however, lies in the assemblage itself. Opportunities to acquire nearly 0.60 acres of contiguous property in Edgewaters established waterfront district are increasingly difficult to replicate. Investors can continue operating the existing improvements for immediate income while planning future development, reposition the entire site into a cohesive residential rental portfolio, modernize the commercial component to serve the areas growing boating community, or pursue a comprehensive redevelopment strategy for new commercial or residential construction, subject to municipal approvals.Location further strengthens the investment thesis. The property sits minutes from the Indian River Lagoon and Intracoastal Waterway, with convenient access to Menard-May Park, George Kennedy Memorial Park, and additional public boat ramps that support one of Floridas most active boating and inshore fishing communities. Nearby restaurants, local businesses, parks, and waterfront recreation continue to draw both residents and visitors, while New Smyrna Beach, Canal Street, and I-95 remain just a short drive away. The combination of waterfront recreation, year-round outdoor tourism, and Edgewaters continued residential and commercial growth continues to fuel demand for both housing and neighborhood-serving businesses.F

Features

Refrigerator
Microwave
Electric Range
Multi Units, Wall/Window Unit(s)
Electric
1.0 Story
$3,350 Taxes
Public
Built in 1940

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114 E Park Avenue Edgewater, FL 32132

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114 E Park Avenue
Edgewater, FL 32132