Two-Story Beachside
New
For Sale
$239,900
308 N PENINSULA Dr, Daytona Beach, FL 32118
Four individually metered apartments with private porches near the beach, boardwalk, dining, hotels, and public transportation.
Property Size2,664 SF
Days on Market4
Property Features for 308 N PENINSULA Dr
General Information
Standard status
Active
Size
2,664 SF
Property subtype
Investment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,578
Amenities
private porch
Building Details
Building Size
2,664 SF
Year Built
1942
Buildings
1
Stories
2
Listing Agency:
CA Calnan Real Estate
(781) 983-4852
Listed By:
Colleen Calnan · License #3173311
(781) 983-4852
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 7:21AM
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 CA Calnan Real Estate
Investment Insights
Based on property information with market context.
This two-story quadplex, built in 1942, contains four one-bedroom, one-bathroom apartments. Each unit includes a private porch, while separate electric meters serve the apartments; the property has one water meter. The configuration provides a clearly defined four-unit residential income asset in a compact building format.
The property is located at 308 N PENINSULA Dr in Daytona Beach, just north of Main Street. The beach, boardwalk, area hotels, restaurants, and Beach Street are within walking distance. Public transportation is also available nearby, supporting access for residents who may not drive. BikeScore is 55, WalkScore is 66, and TransitScore is 31.
The property is located at 308 N PENINSULA Dr in Daytona Beach, just north of Main Street. The beach, boardwalk, area hotels, restaurants, and Beach Street are within walking distance. Public transportation is also available nearby, supporting access for residents who may not drive. BikeScore is 55, WalkScore is 66, and TransitScore is 31.
Key Highlights
- Four 1‑bedroom, 1‑bathroom units in a two‑story quadplex
- Private porch provided for each apartment
- Separate electric meters; one water meter
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
$20,300
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
8.46%
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%
$406,000
$406.0K
Cap Rate 7%
$290,000
$290.0K
Cap Rate 9%
$225,556
$225.6K
Market Conditions
NOI Build-Up for 2,664 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
$41.2K $15.48/SF
− Vacancy
−$4.3K −$1.63/SF
EGI
$36.9K $13.85/SF
− OpEx
−$16.6K −$6.23/SF
NOI
$20.3K $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%
$406,000
Cap Rate 7%
$290,000
Cap Rate 9%
$225,556
Alternative Uses
Best Use
Multifamily LT 5
$333.9K
$292.1K – $389.5K
NOI $23,370 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$290.0K
$253.8K – $338.3K
NOI $20,300 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$785.5K
$687.3K – $916.4K
NOI $54,985 @ 7.0% cap · market cap 22.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,256
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?
Quadplex - Four individually metered apartments with private porches near the beach, boardwalk, dining, hotels, and public transportation.
Where is this quadplex located?
The property is located at 308 N PENINSULA Dr Daytona Beach, FL.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bathroom units in a two‑story quadplex; Private porch provided for each apartment; Separate electric meters; one water meter
