Self Storage
For Sale
Contact for pricing
115 MICHIGAN AVE, Daytona Beach, FL 32114
Industrial property spanning three parcels within the Daytona Beach area CBD.
Property Size2,757 SF
Price / SF$307.94
Days on Market57
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Property Features for 115 MICHIGAN AVE
General Information
Standard status
Active
Size
2,757 SF
Class
D
Property subtype
Self Storage, Mixed Use, Land
Zoning
RDD4
Investment Type
Owner/User
Additional Details
Land Use
industrial
Building Details
Year Built
1927
Buildings
115
Stories
1
Units
1
Listing Agency:
Salty City Realty
Listed By:
PETE KLIRONOMOS · License #BK3410351
(386) 295-9299
Source:
Crexi
Added: Aug 20
Changed: Oct 8
Last Checked: Oct 14 at 9:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Salty City Realty
Investment Insights
Based on property information with market context.
This 2,757-square-foot commercial property was built in 1927 and is situated across three parcels. The asset is identified as a self storage facility and carries RDD4 zoning.
Located at 115 Michigan Ave in Daytona Beach, the property is within the area CBD. The site’s industrial classification and multi-parcel configuration provide the primary physical and land-use details for evaluation.
Located at 115 Michigan Ave in Daytona Beach, the property is within the area CBD. The site’s industrial classification and multi-parcel configuration provide the primary physical and land-use details for evaluation.
Key Highlights
- 2,757 SF commercial property
- Three parcels included
- Built in 1927
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,056
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,120
$681.1K
Cap Rate 7%
$486,514
$486.5K
Cap Rate 9%
$378,400
$378.4K
Market Conditions
NOI Build-Up for 2,757 SF
Gross rent
$59.6K $21.60/SF
− Vacancy
−$5.1K −$1.84/SF
EGI
$54.5K $19.76/SF
− OpEx
−$20.4K −$7.41/SF
NOI
$34.1K $12.35/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,120
Cap Rate 7%
$486,514
Cap Rate 9%
$378,400
Alternative Uses
Best Use
Mixed Use
$486.5K
$425.7K – $567.6K
NOI $34,056 @ 7.0% cap · market cap 4.01%
Second Best
Self Storage
$388.7K
$340.2K – $453.5K
NOI $27,212 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$812.9K
$711.3K – $948.4K
NOI $56,904 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - Industrial property spanning three parcels within the Daytona Beach area CBD.
Where is this self storage facility located?
The property is located at 115 MICHIGAN AVE Daytona Beach, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 2,757 SF commercial property; Three parcels included; Built in 1927
