Garden-Style Multifamily Apartment
For Sale
$3,000,000
119 Thomasson Avenue, Daytona Beach, FL 32117
MULTI_FAMILY - Daytona Beach, FL
Property Size15,212 SF
Lot Size1.00 Acre
Price / SF$197.21
Days on Market21
Property Features for 119 Thomasson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
32
Bathrooms
20
Full bathrooms
20
Rooms
Bedroom 6, Bedroom 30, Bedroom 25, Bathroom 7, Bedroom 11, Bathroom 16, Bedroom 9, Bedroom 24, Bedroom 29, Bedroom 21, Bathroom 18, Bathroom 12, Bedroom 7, Bedroom 20, Bathroom 11, Bedroom 8, Bathroom 4, Bathroom 8, Bedroom 26, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 17, Bedroom 12, Bedroom 10, Bathroom 15, Bedroom 22, Bathroom 19, Bathroom 9, Bedroom 15, Bedroom 31, Bedroom 28, Bathroom 2, Bathroom 10, Bathroom 14, Bedroom 18, Bedroom 32, Bathroom 3, Bedroom 14, Bedroom 27, Bathroom 6, Bathroom 20, Bathroom 5, Bedroom 23, Bathroom 13, Bathroom 17, Bedroom 2, Bedroom 13, Bathroom 1, Bedroom 19, Bedroom 5, Bedroom 16
Parking features
Assigned
Subdivision
Not In Subdivision
Directions
us 1 to West on Mason Ave to South on Thomasson Ave
Standard status
Active
APN
424401340016
Size
15,212 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
30232
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
community laundry facilities
Building Details
Year built
1984
Number of units
20
Building materials
Frame
Listing Agency:
FlatFee.com
(954) 965-3990
Listed By:
Cliff Glansen · License #278017259
(954) 965-3990
Added: Jul 24
Last Checked: Aug 13 at 9:06AM
MLS# 1228976
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.
Whispering Winds is a garden-style multifamily property featuring 8 one-bedroom and 12 two-bedroom apartment units in a wood-frame configuration. The community includes laundry facilities, and the property is described as well maintained.
Improvements reported by the current ownership include a roof replacement with warranty coverage, along with vinyl flooring and various fixture upgrades.
Located at 119 Thomasson Avenue in Daytona Beach, the property is presented as positioned near the Halifax River corridor and within reach of Daytona Beach attractions, including Daytona International Speedway.
Improvements reported by the current ownership include a roof replacement with warranty coverage, along with vinyl flooring and various fixture upgrades.
Located at 119 Thomasson Avenue in Daytona Beach, the property is presented as positioned near the Halifax River corridor and within reach of Daytona Beach attractions, including Daytona International Speedway.
Key Highlights
- Multifamily with 8 1‑bedroom units and 12 2‑bedroom units (20 total) in a garden‑style configuration
- Wood‑frame construction; central heating and central A/C
- Roof replacement with warranty coverage, plus vinyl flooring and various fixture improvements
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
$115,916
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
3.86%
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%
$2,318,320
$2.3M
Cap Rate 7%
$1,655,943
$1.7M
Cap Rate 9%
$1,287,956
$1.3M
Market Conditions
NOI Build-Up for 15,212 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
$235.5K $15.48/SF
− Vacancy
−$24.7K −$1.63/SF
EGI
$210.8K $13.85/SF
− OpEx
−$94.8K −$6.23/SF
NOI
$115.9K $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%
$2,318,320
Cap Rate 7%
$1,655,943
Cap Rate 9%
$1,287,956
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.93M
NOI $115,916 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.49M
$3.92M – $5.23M
NOI $313,976 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
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?
Apartment building - Garden-style multifamily with 8 one-bedroom and 12 two-bedroom units, community laundry, and recent roof and interior upgrades.
Where is this apartment building located?
The property is located at 119 Thomasson Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Multifamily with 8 1‑bedroom units and 12 2‑bedroom units (20 total) in a garden‑style configuration; Wood‑frame construction; central heating and central A/C; Roof replacement with warranty coverage, plus vinyl flooring and various fixture improvements
