Turnkey Triplex with Separate
For Sale
$365,000
314 Cottrill Ave, Daytona Beach, FL 32114
Updated triplex with two tenant-occupied units, a vacant third unit, and separate electric meters for simpler management.
Property Size2,478 SF
Price / SF$147.30
Days on Market113
Property Features for 314 Cottrill Ave
General Information
Standard status
Active
Size
2,478 SF
Property subtype
Residential Income
Zoning
BP
Occupancy
67%
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,920
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams Realty Florida Partners
(386) 944-2800
Listed By:
Mike Bretzel · License #SL3288645
(386) 631-5757
Source:
Exprealty
Added: May 26
Changed: Aug 25
Last Checked: Sep 14 at 8:16AM
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 Keller Williams Realty Florida Partners
Investment Insights
Based on property information with market context.
This updated triplex is offered as a turnkey investment and includes two upgraded structures on an oversized fenced parcel. The property’s layout includes a front home with three bedrooms, a large living area, and a full bath. A rear building provides an upstairs private-access four-bedroom unit and a downstairs two-bedroom unit.
Separate electric meters are in place, helping simplify utility management by keeping tenant electric responsibility separate. Two units are currently tenant occupied, while the third unit is vacant, allowing an owner to adjust rental income when desired. Additional improvements include extra utility room space and a garage/oversized storage located beneath the upper unit.
The property is positioned in a centrally located area and is described as having BP zoning, which may allow multiple potential uses. It is also presented as being just minutes from the beach and nearby major destinations including the Intracoastal Waterway, One Daytona, Daytona International Speedway, Daytona State College, Embry-Riddle, and Tanger Outlets, along with surrounding restaurants and entertainment.
Separate electric meters are in place, helping simplify utility management by keeping tenant electric responsibility separate. Two units are currently tenant occupied, while the third unit is vacant, allowing an owner to adjust rental income when desired. Additional improvements include extra utility room space and a garage/oversized storage located beneath the upper unit.
The property is positioned in a centrally located area and is described as having BP zoning, which may allow multiple potential uses. It is also presented as being just minutes from the beach and nearby major destinations including the Intracoastal Waterway, One Daytona, Daytona International Speedway, Daytona State College, Embry-Riddle, and Tanger Outlets, along with surrounding restaurants and entertainment.
Key Highlights
- Updated triplex with 3 total units: two tenant‑occupied units plus one vacant unit
- Separate electric meters for the units, with tenants responsible for their own electric usage
- Front home: 3 bedrooms, large living area, and a full bath
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
$21,738
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
5.96%
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%
$434,760
$434.8K
Cap Rate 7%
$310,543
$310.5K
Cap Rate 9%
$241,533
$241.5K
Market Conditions
NOI Build-Up for 2,478 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
$34.5K $13.92/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$31.1K $12.53/SF
− OpEx
−$9.3K −$3.76/SF
NOI
$21.7K $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%
$434,760
Cap Rate 7%
$310,543
Cap Rate 9%
$241,533
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.3K
NOI $21,738 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$269.7K
$236.0K – $314.7K
NOI $18,882 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$730.7K
$639.3K – $852.4K
NOI $51,146 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
66.7%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,126
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
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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 - Updated triplex with two tenant-occupied units, a vacant third unit, and separate electric meters for simpler management.
Where is this triplex located?
The property is located at 314 Cottrill Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Updated triplex with 3 total units: two tenant‑occupied units plus one vacant unit; Separate electric meters for the units, with tenants responsible for their own electric usage; Front home: 3 bedrooms, large living area, and a full bath
