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    Daytona Beach Income Property Title is generated by Realmo AI

    340 S Palmetto Avenue, Daytona Beach, FL 32114

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    For Sale
    $450,000

    MULTI_FAMILY - Daytona Beach, FL

    Property size:
    2,202 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $204/SF
    Added:
    Feb 9, 2026
    Days on Market:
    95
    Last Refresh:
    May 15 at 12:06 am

    Property Features for 340 S Palmetto Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 5, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bathroom 3
    Parking
    8
    Parking features
    Driveway, Parking Lot
    Standard status
    Active
    APN
    5339-01-11-0022
    Size
    2,202 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    39-15-33 SE 1/4 OF LOT 2 BLK 11 HODGMANS DAYTONA MB 2 PG 82 MB 12 PGS 13-15 PER OR 2118 PG 0148 PER OR 5465 PG 3436 PER OR 6767 PG 4180 PER OR 7028 PG 3978 PER OR 7080 PG 2286 PER OR 7257 PG 2838 PER OR 7632 PG 3126 PEROR 7655 PG 2245 PER OR 8025 PG 0054
    Tax Annual Amount
    4824

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Wall/Window Unit(s), Electric, Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1915
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Tile, Laminate
    Building materials
    Aluminum Siding, Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Bryce Fremont
    Bryce Fremont

    Listing agent Bryce Fremont

    Listing office Marlin Realty Group 402 Seabreeze Blvd Suite 7, Daytona Beach, FL

    Listing date Feb 9, 2026

    MLS# 1222794 Listing URL

    Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Great rental income property in a highly desirable downtown location.
    • Turnkey property with a history of full occupancy and easy rentals.
    • Updated apartments with newer appliances.
    • Walking distance to restaurants, parks, and downtown amenities.
    • Consists of two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units.
    • Features both driveway and parking lot.

    Overview

    This multifamily property is located in downtown Daytona Beach, Florida. The property contains four units: two apartments with two bedrooms and one bathroom each, and two apartments with one bedroom and one bathroom each. The apartments have been updated and include newer appliances. The property is described as turnkey with a strong rental history. The location is within walking distance of restaurants, parks, and other downtown amenities. The lot size is 0.24 acres and the property size is 2202 square feet. This property is intended for use as a rental income property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tracy's house Housing Complex

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.019056
    Latitude
    29.205994

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    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property in downtown Daytona Beach.
    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 in a highly desirable downtown location.; Turnkey property with a history of full occupancy and easy rentals.; Updated apartments with newer appliances.
    (386) 846-8866
    We can help!
    Listing Contact
    Bryce Fremont
    Bryce Fremont
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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