Two-Story Quadplex With Private
For Sale
$239,900
308 N PENINSULA Drive, Daytona Beach, FL 32118
MULTI_FAMILY - DAYTONA BEACH, FL
Property Size2,664 SF
Lot Size0.44 Acres
Price / SF$90.05
Days on Market9
Property Features for 308 N PENINSULA Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RES
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2
Interior features
Built-in Features
Subdivision
MEMENTO
Elementary school
R.J. Longstreet Elem
Middle school
Campbell Middle
High school
Mainland High School
Directions
From Main St and Peninsula go north to 308 on the right
Special listing conditions
Auction
Standard status
Active
APN
53-05-08-11-00-2100
Size
2,664 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 190 FT OF S 1/2 OF LOT 2 & W 190 FT OF N 10 FT OF LOT 3 BLK 11 MEMENTO PER OR 4090 PGS 1596-1597 PER OR 5490 PG 1590 PER OR 5576 PG 3967 PER OR 5913 PG 2487 PER OR 5913 PG 2511
Tax Annual Amount
5578
Legal Description
W 190 FT OF S 1/2 OF LOT 2 & W 190 FT OF N 10 FT OF LOT 3 BLK 11 MEMENTO PER OR 4090 PGS 1596-1597 PER OR 5490 PG 1590 PER OR 5576 PG 3967 PER OR 5913 PG 2487 PER OR 5913 PG 2511
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Amenities
private porch
Building Details
Year built
1942
Building materials
Asbestos
Roof type
Shingle
Listing Agency:
CALNAN REAL ESTATE
(386) 675-1137
Listed By:
Colleen Calnan · License #3173311
(781) 983-4852
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 12 at 1:06AM
MLS# V4950564
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 two-story quadplex contains four one-bedroom, one-bathroom units within 2,664 square feet. Each apartment includes a private porch, while separate electric meters serve the units; the property has one water meter. Built in 1942, the building sits on a 0.44-acre parcel with RES zoning, a shingle roof, built-in features, cable availability, public water, and public sewer.
The property is located at 308 N PENINSULA Drive in Daytona Beach, near Main Street and within walking distance of the beach, boardwalk, area hotels, restaurants, and Beach Street. Public transportation is also available nearby, providing access for residents who may not drive.
The property is located at 308 N PENINSULA Drive in Daytona Beach, near Main Street and within walking distance of the beach, boardwalk, area hotels, restaurants, and Beach Street. Public transportation is also available nearby, providing access for residents who may not drive.
Key Highlights
- Four 1‑bedroom, 1‑bathroom units in a two‑story quadplex
- 2,664 square feet on a 0.44‑acre parcel
- Private porch provided for each unit
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 residential units feature individual electric meters, private porches, and public water and sewer service.
Where is this quadplex located?
The property is located at 308 N PENINSULA Drive 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; 2,664 square feet on a 0.44‑acre parcel; Private porch provided for each unit
