Eight-Room Apartment
New
For Sale
$650,000
13 S OLEANDER AVENUE, Daytona Beach, FL 32118
Licensed beachside rental property with flexible room layouts, shared kitchens, and an established weekly occupancy model.
Property Size2,510 SF
Price / SF$258.96
Days on Market7
Property Features for 13 S OLEANDER AVENUE
General Information
Standard status
Active
Size
2,510 SF
Property subtype
Multi-Family 5+
Building Details
Year Built
1936
Listing Agency:
JUPITER PROPERTIES, INC
(386) 547-6161
Listed By:
Sulamita Del Valle · License #3293615
(904) 687-7876
Source:
Endlesssummerrealty
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 26 at 9:37AM
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 JUPITER PROPERTIES, INC
Investment Insights
Based on property information with market context.
Built in 1936, this 2,510-square-foot apartment property is licensed and operating as an eight-room weekly rental. The rooms vary in size and configuration, with each offering a mini refrigerator and microwave. Four rooms have private access, while the property includes three shared restrooms and two kitchens. The operation includes a combination of established long-term tenants and weekly renters.
The property is located in Daytona Beach’s beachside area, within walking distance of the beach, Daytona Beach Bandshell, Main Street Pier, Boardwalk, Ocean Center, restaurants, entertainment, and other beachside attractions.
The property is located in Daytona Beach’s beachside area, within walking distance of the beach, Daytona Beach Bandshell, Main Street Pier, Boardwalk, Ocean Center, restaurants, entertainment, and other beachside attractions.
Key Highlights
- Licensed eight‑room rental operation
- 2,510 SF property built in 1936
- Every room includes a mini refrigerator and microwave
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
$19,126
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
2.94%
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%
$382,520
$382.5K
Cap Rate 7%
$273,229
$273.2K
Cap Rate 9%
$212,511
$212.5K
Market Conditions
NOI Build-Up for 2,510 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
$38.9K $15.48/SF
− Vacancy
−$4.1K −$1.63/SF
EGI
$34.8K $13.85/SF
− OpEx
−$15.6K −$6.23/SF
NOI
$19.1K $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%
$382,520
Cap Rate 7%
$273,229
Cap Rate 9%
$212,511
Alternative Uses
Best Use
Apartment 5plus
$273.2K
$239.1K – $318.8K
NOI $19,126 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$740.1K
$647.6K – $863.4K
NOI $51,806 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,114
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Licensed beachside rental property with flexible room layouts, shared kitchens, and an established weekly occupancy model.
Where is this apartment building located?
The property is located at 13 S OLEANDER AVENUE Daytona Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Licensed eight‑room rental operation; 2,510 SF property built in 1936; Every room includes a mini refrigerator and microwave
