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 Market260
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 26
Last Checked: Oct 26 at 4:04PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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.
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Property Analytics
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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
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.
