Two-Story Quadplex Near
For Sale
$239,900
308 N Peninsula Drive, Daytona Beach, FL 32118
Residential Income, Daytona Beach, FL
Property Size2,664 SF
Lot Size0.43 Acres
Price / SF$90.05
Days on Market35
Property Features for 308 N Peninsula Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Residential
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 3
Parking features
Off Street
Subdivision
Memento
Lot features
Few Trees
Elementary school
R J Longstreet
Middle school
Campbell
High school
Mainland
Directions
From Main St and Peninsula go north to 308 on the right
Standard status
Active
APN
5305-08-11-0021
Size
2,664 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 190 FT OF S 1/2 OF LOT 2 & W 190 FT OF N 10 FT OF LOT 3 BLK 11 MEMENTO DB O PG 692 PER OR 4090 PGS 1596-1597 PER OR 5490 PG 1590 PER OR 5576 PG 3967 PER OR 5913 PG 2487 PER OR 5913 PG 2511 PER OR 8828 PG 0699
Tax Annual Amount
5578
Legal Description
W 190 FT OF S 1/2 OF LOT 2 & W 190 FT OF N 10 FT OF LOT 3 BLK 11 MEMENTO DB O PG 692 PER OR 4090 PGS 1596-1597 PER OR 5490 PG 1590 PER OR 5576 PG 3967 PER OR 5913 PG 2487 PER OR 5913 PG 2511 PER OR 8828 PG 0699
Utilities
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1942
Floors in Building
2
Number of units
4
Flooring type
Wood, Tile
Building materials
Frame
Roof type
Shingle
Listing Agency:
Calnan Real Estate
(386) 675-1137
Listed By:
Colleen Calnan · License #3173311
(386) 675-1136
Added: Aug 4
Changed: Aug 20
Last Checked: Sep 7 at 5:06PM
MLS# 1229329
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story quadplex contains four apartments, each arranged with one bedroom, one bathroom, and a private porch. The 2,664-square-foot wood-frame property was built in 1942 and includes wood and tile flooring, shingle roofing, wall or window cooling units, and off-street parking. Separate electric meters serve the units, while the property has one water meter.
The property is located at 308 N Peninsula Drive in Daytona Beach, just north of Main Street. The beach, boardwalk, hotels, restaurants, and Beach Street are within walking distance, and public transportation is nearby. The parcel encompasses 0.43 acres, placing the residential building in a beachside setting with access to surrounding hospitality, dining, and recreational destinations.
The property is located at 308 N Peninsula Drive in Daytona Beach, just north of Main Street. The beach, boardwalk, hotels, restaurants, and Beach Street are within walking distance, and public transportation is nearby. The parcel encompasses 0.43 acres, placing the residential building in a beachside setting with access to surrounding hospitality, dining, and recreational destinations.
Key Highlights
- Four‑unit property with one‑bedroom, one‑bathroom apartments
- Each apartment includes a private porch
- 2,664 square feet on a 0.43‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,300
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$406,000
$406.0K
Cap Rate 7%
$290,000
$290.0K
Cap Rate 9%
$225,556
$225.6K
Market Conditions
NOI Build-Up for 2,664 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.2K $15.48/SF
− Vacancy
−$4.3K −$1.63/SF
EGI
$36.9K $13.85/SF
− OpEx
−$16.6K −$6.23/SF
NOI
$20.3K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$406,000
Cap Rate 7%
$290,000
Cap Rate 9%
$225,556
Alternative Uses
Best Use
Multifamily LT 5
$333.9K
$292.1K – $389.5K
NOI $23,370 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$290.0K
$253.8K – $338.3K
NOI $20,300 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$785.5K
$687.3K – $916.4K
NOI $54,985 @ 7.0% cap · market cap 22.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
Explore this area
Business Placement
Demographics for 32118, FL
17,906
Population
16,390
Households
1.1
Avg Household Size
58
Median Age
31%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
4,263
Density / Sq Mi
$60,418
Median Household Income
$36,153
Median Earnings
$1,283
Median Rent
$339,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments include private porches, individual electric metering, and shared water service in a wood-frame property.
Where is this quadplex located?
The property is located at 308 N Peninsula Drive Daytona Beach, FL.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Four‑unit property with one‑bedroom, one‑bathroom apartments; Each apartment includes a private porch; 2,664 square feet on a 0.43‑acre parcel
