Renovated 12-Unit Apartment
For Sale
$1,995,000
208 N HALIFAX AVENUE, Daytona Beach, FL 32118
Three-story concrete-block property with extensively upgraded interiors, building systems, windows, doors, and roof.
Property Size8,400 SF
Lot Size0.25 Acres
Days on Market8
Property Features for 208 N HALIFAX AVENUE
General Information
Standard status
Active
Size
8,400 SF
Lot size
0.25 Acres
Property subtype
Quadruplex
Net Operating Income
$135,000
Financials
Asking Price
$1,995,000
Gross Income
$185,000
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$26,881
Building Details
Building Size
8,400 SF
Year Built
1974
Year Renovated
2022
Buildings
1
Stories
3
Construction
concrete-block
Listing Agency:
SLOANE REALTY, LLC
Listed By:
Matt White · License #3106449
(407) 758-3166
Source:
Swannre
Added: Aug 26
Changed: Aug 29
Last Checked: Sep 1 at 2:32PM
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 SLOANE REALTY, LLC
Investment Insights
Based on property information with market context.
This three-story, concrete-block apartment building contains 12 one-bedroom/one-bathroom units of approximately 700 SF each. Constructed in 1974, the property underwent extensive renovation in 2022, including a new roof, impact-rated windows and doors, aluminum railings, replumbing, upgraded electrical components, lighting, plumbing fixtures, HVAC systems, water heaters, stainless-steel appliances, solid-wood cabinetry, granite countertops, and luxury vinyl plank flooring. Each apartment includes central air conditioning and generous living space.
The property occupies approximately ¼ acre and provides tenant and guest parking. Electric service is individually metered, with tenants responsible for their own electric while ownership pays water and sewer; trash, water, and sewer are consolidated under ownership. The address is one block from the Halifax River/Intracoastal and within walking or biking distance of the Atlantic Ocean, Daytona Beach Boardwalk, Ocean Walk Village, Main Street entertainment, restaurants, and nightlife. It is approximately 0.7 mile from Ocean Walk Village and 0.4 mile from the Atlantic Avenue commercial corridor, with Halifax Health Medical Center and Daytona Beach International Airport also described as nearby.
The property occupies approximately ¼ acre and provides tenant and guest parking. Electric service is individually metered, with tenants responsible for their own electric while ownership pays water and sewer; trash, water, and sewer are consolidated under ownership. The address is one block from the Halifax River/Intracoastal and within walking or biking distance of the Atlantic Ocean, Daytona Beach Boardwalk, Ocean Walk Village, Main Street entertainment, restaurants, and nightlife. It is approximately 0.7 mile from Ocean Walk Village and 0.4 mile from the Atlantic Avenue commercial corridor, with Halifax Health Medical Center and Daytona Beach International Airport also described as nearby.
Key Highlights
- 12 one‑bedroom/one‑bathroom apartments, each approximately 700 SF
- Extensively renovated in 2022 with new roof, HVAC systems, water heaters, windows, doors, and major interior upgrades
- Three‑story concrete‑block construction dating to 1974
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
$64,008
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
3.21%
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%
$1,280,160
$1.3M
Cap Rate 7%
$914,400
$914.4K
Cap Rate 9%
$711,200
$711.2K
Market Conditions
NOI Build-Up for 8,400 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
$130.0K $15.48/SF
− Vacancy
−$13.7K −$1.63/SF
EGI
$116.4K $13.85/SF
− OpEx
−$52.4K −$6.23/SF
NOI
$64.0K $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%
$1,280,160
Cap Rate 7%
$914,400
Cap Rate 9%
$711,200
Alternative Uses
Best Use
Apartment 5plus
$914.4K
$800.1K – $1.07M
NOI $64,008 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,376 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,439
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?
Apartment building - Three-story concrete-block property with extensively upgraded interiors, building systems, windows, doors, and roof.
Where is this apartment building located?
The property is located at 208 N HALIFAX AVENUE Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 12 one‑bedroom/one‑bathroom apartments, each approximately 700 SF; Extensively renovated in 2022 with new roof, HVAC systems, water heaters, windows, doors, and major interior upgrades; Three‑story concrete‑block construction dating to 1974
