Multi-Bay Industrial Warehouse with
For Sale
$4,100,000
405 N Charles St, Daytona Beach, FL 32114
Multi-bay warehouse with office buildout, nine grade-level loading doors, and direct frontage for convenient access.
Property Size37,125 SF
Lot Size3.45 Acres
Price / SF$110.44
Days on Market98
Property Features for 405 N Charles St
General Information
Standard status
Active
Size
37,125 SF
Lot size
3.45 Acres
Occupancy
82%
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
9
Additional Details
Cap Rate
10.59%
Service Bays
5
Building Details
Tenancy
Multi
Listing Agency:
APEX Capital Realty LLC
Listed By:
Jason Joseph Abitbol · License #3354200
(863) 440-2387
Source:
Thepennteam
Added: Jul 7
Changed: Oct 10
Last Checked: Oct 7 at 5:20PM
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 APEX Capital Realty LLC
Investment Insights
Based on property information with market context.
This multi-bay industrial asset includes a 37,125-square-foot warehouse on a 3.45-acre lot with approximately 10% office buildout. The facility is configured with five bays and features nine grade-level loading doors, along with 16-foot clear heights. The property is currently 82% occupied with four tenants.
The warehouse provides direct frontage along George W Engram Blvd/Fairview Ave, supporting straightforward access to surrounding commercial corridors as described in the offering. The multi-tenant setup also includes lease activity, with three leases rolling within 12 months.
As a for-sale investment, the asset generates approximately $221,000 in NOI and is described as offering value-add through opportunities related to in-place rents and upcoming lease expirations. The offering also references projected stabilization at approximately $11.50/SF NNN and a 10.59% cap rate. For tenant and buyer consideration, the combination of multiple warehouse bays, high clear height, and grade-level loading may support a range of industrial uses that can utilize centralized dock-to-bay operations while maintaining an on-site office component.
The warehouse provides direct frontage along George W Engram Blvd/Fairview Ave, supporting straightforward access to surrounding commercial corridors as described in the offering. The multi-tenant setup also includes lease activity, with three leases rolling within 12 months.
As a for-sale investment, the asset generates approximately $221,000 in NOI and is described as offering value-add through opportunities related to in-place rents and upcoming lease expirations. The offering also references projected stabilization at approximately $11.50/SF NNN and a 10.59% cap rate. For tenant and buyer consideration, the combination of multiple warehouse bays, high clear height, and grade-level loading may support a range of industrial uses that can utilize centralized dock-to-bay operations while maintaining an on-site office component.
Key Highlights
- 37,125 SF multi‑bay warehouse on a 3.45‑acre lot in Daytona Beach
- Direct frontage along George W Engram Blvd/Fairview Ave for convenient access to commercial corridors
- Five bays with nine grade‑level loading doors and 16’ clear heights
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$298,585
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,971,700
$6.0M
Cap Rate 7%
$4,265,500
$4.3M
Cap Rate 9%
$3,317,611
$3.3M
Market Conditions
NOI Build-Up for 37,125 SF
Gross rent
$369.8K $9.96/SF
− Vacancy
−$18.5K −$0.50/SF
EGI
$351.3K $9.46/SF
− OpEx
−$52.7K −$1.42/SF
NOI
$298.6K $8.04/SF
Area
Volusia County, FL
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,971,700
Cap Rate 7%
$4,265,500
Cap Rate 9%
$3,317,611
Alternative Uses
Best Use
Warehouse
$4.27M
$3.73M – $4.98M
NOI $298,585 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.95M
$9.58M – $12.77M
NOI $766,260 @ 7.0% cap · market cap 18.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
9
Drive-in doors
5
Service bays
82%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Multi-bay warehouse with office buildout, nine grade-level loading doors, and direct frontage for convenient access.
Where is this warehouse located?
The property is located at 405 N Charles St Daytona Beach, FL.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 37,125 SF multi‑bay warehouse on a 3.45‑acre lot in Daytona Beach; Direct frontage along George W Engram Blvd/Fairview Ave for convenient access to commercial corridors; Five bays with nine grade‑level loading doors and 16’ clear heights
