Renovated 12-Unit Apartment
New
For Sale
$1,995,000
208 N HALIFAX Avenue, Daytona Beach, FL 32118
Residential Income, DAYTONA BEACH, FL
Property Size8,400 SF
Lot Size0.23 Acres
Price / SF$237.50
Days on Market2
Property Features for 208 N HALIFAX Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
10+ UNITS
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 9, Bathroom 11, Family Room, Bedroom 7, Bathroom 7, Bathroom 4, Bedroom 12, Bathroom 1, Bedroom 2, Bathroom 6, Bathroom 10, Bedroom 9, Bedroom 10, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 8, Bathroom 12, Bathroom 5, Bedroom 11, Bedroom 3, Bathroom 8, Bathroom 2, Bedroom 6
Interior features
Ceiling Fans(s), High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Solid Wood Cabinets, Stone Counters, Thermostat
Subdivision
MEMENTO
View
River
Directions
Follow I-4 E to US-92 E/W International Speedway Blvd in Daytona Beach. Take the I-95 N exit from I-4 E Follow US-92 E/W International Speedway Blvd to S Halifax Ave
Standard status
Active
APN
05-15-33-08-07-0050
Size
8,400 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 132 FT OF LOT 5 EXC STREET BLK 7 MEMENTO PER OR 7953 PG 4322 PER OR 8643 PG 4844
Tax Annual Amount
26881
Legal Description
W 132 FT OF LOT 5 EXC STREET BLK 7 MEMENTO PER OR 7953 PG 4322 PER OR 8643 PG 4844
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1974
Floors in Building
3
Number of units
12
Building materials
Block
Roof type
Shingle
Listing Agency:
SLOANE REALTY, LLC
(407) 829-2418
Listed By:
Matt White · License #3106449
(407) 758-3166
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 27 at 10:06PM
MLS# O6436885
Copyright © 2026 Stellar MLS. 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 three-story apartment property contains 12 one-bedroom, one-bathroom residences totaling 8,400 square feet. Each apartment is approximately 700 square feet and includes central air conditioning, open living space, solid-wood cabinetry, stone countertops, and luxury vinyl plank flooring. The concrete-block building was substantially renovated in 2022, with work that included impact-rated windows and doors, a new roof, updated HVAC systems and water heaters, replumbing, electrical improvements, and refreshed interior and exterior finishes.
The property occupies approximately 0.23 acres at 208 N HALIFAX Avenue in Daytona Beach. It is one block from the Halifax River and within walking or biking distance of the Atlantic Ocean, Daytona Beach Boardwalk, Ocean Walk Village, Main Street entertainment, restaurants, and nightlife. Public water and public sewer serve the property, while electric service is individually metered. Tenant and guest parking is available on site.
The property occupies approximately 0.23 acres at 208 N HALIFAX Avenue in Daytona Beach. It is one block from the Halifax River and within walking or biking distance of the Atlantic Ocean, Daytona Beach Boardwalk, Ocean Walk Village, Main Street entertainment, restaurants, and nightlife. Public water and public sewer serve the property, while electric service is individually metered. Tenant and guest parking is available on site.
Key Highlights
- 12 one‑bedroom/one‑bathroom apartments, each approximately 700 SF
- 8,400 square feet on approximately 0.23 acres
- Substantial 2022 renovation with new roof, HVAC systems, water heaters, windows, and doors
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
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 updated building systems, central air, and public water and sewer service.
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; 8,400 square feet on approximately 0.23 acres; Substantial 2022 renovation with new roof, HVAC systems, water heaters, windows, and doors
