Downtown Daytona Beach
For Sale
Contact for pricing
340 S Palmetto Avenue, Daytona Beach, FL 32114
Four-unit multifamily property in a convenient downtown location.
Property Size2,456 SF
Price / SF$183.22
Days on Market246
Property Features for 340 S Palmetto Avenue
General Information
Standard status
Active
Size
2,456 SF
Total Parking Spaces
8
Property subtype
Multifamily
Net Operating Income
$32,163
Building Details
Year Built
1915
Units
4
Listing Agency:
Marlin Realty Group
Listed By:
Bryce Fremont · License #3247406
(386) 846-8866
Source:
Crexi
Added: Feb 9
Changed: Oct 9
Last Checked: Oct 12 at 6:18PM
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 Marlin Realty Group
Investment Insights
Based on property information with market context.
This four-unit multifamily property is located in downtown Daytona Beach, offering convenient access to restaurants, parks, and other amenities. The property features two two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments. The units have been updated and include newer appliances. The property has a history of consistent occupancy due to its location. The property size is 2456 square feet. This property is intended for use as a rental income property.
Key Highlights
- Great rental income property.
- Prime downtown location within walking distance to amenities.
- Turnkey property ready for immediate rental.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,545
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,900
$430.9K
Cap Rate 7%
$307,786
$307.8K
Cap Rate 9%
$239,389
$239.4K
Market Conditions
NOI Build-Up for 2,456 SF
Gross rent
$34.2K $13.92/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$30.8K $12.53/SF
− OpEx
−$9.2K −$3.76/SF
NOI
$21.5K $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 Rate 5%
$430,900
Cap Rate 7%
$307,786
Cap Rate 9%
$239,389
Alternative Uses
Best Use
Multifamily LT 5
$307.8K
$269.3K – $359.1K
NOI $21,545 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$267.4K
$233.9K – $311.9K
NOI $18,715 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$724.2K
$633.7K – $844.9K
NOI $50,692 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,751
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property in a convenient downtown location.
Where is this quadplex located?
The property is located at 340 S Palmetto Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Great rental income property.; Prime downtown location within walking distance to amenities.; Turnkey property ready for immediate rental.
