Triplex with Reconfiguration
For Sale
$280,000
237 Desoto Street, Daytona Beach, FL 32114
Residential Income, Daytona Beach, FL
Property Size1,516 SF
Lot Size0.15 Acres
Price / SF$184.70
Days on Market11
Property Features for 237 Desoto Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Subdivision
Not on the List
Directions
GPS
Standard status
Active
APN
5238-36-09-0260
Size
1,516 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
38-15-33 LOT 26 BLK 9 J A CLEMENTS WEST END SUB ADD MB 2 PGS 146-147 INC MB 17 PGS 107-108 INC PER OR 2281 PG 1671 PER OR 7361 PG 2061 PER OR 7386 PG 0641 PER OR 8516 PG 1550
Tax Annual Amount
3118
Legal Description
38-15-33 LOT 26 BLK 9 J A CLEMENTS WEST END SUB ADD MB 2 PGS 146-147 INC MB 17 PGS 107-108 INC PER OR 2281 PG 1671 PER OR 7361 PG 2061 PER OR 7386 PG 0641 PER OR 8516 PG 1550
Utilities
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1949
Number of units
3
Listing Agency:
Charles Rutenberg Realty Fort Lauderdale
Listed By:
Joel McClintock
(954) 396-3001
Added: Sep 24
Changed: Oct 2
Last Checked: Oct 4 at 7:06PM
MLS# 1231153
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.
This 1,516-square-foot residential property was built in 1949 as a triplex and is positioned for renovation and layout changes. A proposed configuration includes a studio, one-bedroom unit, and three-bedroom unit; the plan requires buyer verification and any necessary approvals. The parcel contains 0.15 acres.
A separate triplex property next door is also available at 233 Desoto Street, MLS# 1231152.
A separate triplex property next door is also available at 233 Desoto Street, MLS# 1231152.
Key Highlights
- Originally built as a triplex in 1949
- 1,516 square feet on a 0.15‑acre lot
- Proposed unit mix: studio, one‑bedroom, and three‑bedroom, subject to verification and approvals
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
$13,299
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
4.75%
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%
$265,980
$266.0K
Cap Rate 7%
$189,986
$190.0K
Cap Rate 9%
$147,767
$147.8K
Market Conditions
NOI Build-Up for 1,516 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
$21.1K $13.92/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$19.0K $12.53/SF
− OpEx
−$5.7K −$3.76/SF
NOI
$13.3K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
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%
$265,980
Cap Rate 7%
$189,986
Cap Rate 9%
$147,767
Alternative Uses
Best Use
Multifamily LT 5
$190.0K
$166.2K – $221.7K
NOI $13,299 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$165.0K
$144.4K – $192.5K
NOI $11,552 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$447.0K
$391.1K – $521.5K
NOI $31,290 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
807
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 Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - A 1949-built residential property offers a renovation project with a proposed three-unit rental layout, subject to approvals.
Where is this triplex located?
The property is located at 237 Desoto Street Daytona Beach, FL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Originally built as a triplex in 1949; 1,516 square feet on a 0.15‑acre lot; Proposed unit mix: studio, one‑bedroom, and three‑bedroom, subject to verification and approvals
