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 Market201
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
(386) 846-8866
Listed By:
Bryce Fremont · License #3247406
Source:
Crexi
Added: Feb 9
Changed: Aug 22
Last Checked: Aug 29 at 4:23AM
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 = 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
$21,545
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
4.79%
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%
$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
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
$34.2K $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 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%
$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.
Property Analytics
Property Profile
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
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.
