Two-Unit Duplex with Tile
For Sale
Contact for pricing
554 Spruce Street, Daytona Beach, FL 32114
Income-producing residential property with separate living spaces, updated kitchen features, and no HOA fees.
Property Size1,572 SF
Price / SF$178.12
Days on Market203
Property Features for 554 Spruce Street
General Information
Standard status
Active
Size
1,572 SF
Property subtype
Multifamily, Land
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1962
Buildings
1
Units
2
Listing Agency:
LPT Realty, LLC
Listed By:
Ron Wysocarski
(386) 562-2651
Source:
Crexi
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 31 at 7:52AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This 1,572-square-foot duplex, built in 1962, contains two residential units with matching layouts. Each side offers two bedrooms, one full bathroom, a kitchen, and a living room. Interior features include tile flooring, stainless steel appliances, generous cabinet storage, and a shower/tub combination in each bathroom.
The property is located at 554 Spruce Street in Daytona Beach, near local colleges, shopping, and parks. The beach is a short drive away. There are no HOA fees associated with the property.
The property is located at 554 Spruce Street in Daytona Beach, near local colleges, shopping, and parks. The beach is a short drive away. There are no HOA fees associated with the property.
Key Highlights
- Two‑unit duplex with 1,572 square feet of total property size
- Each unit includes 2 bedrooms and 1 full bathroom
- Kitchens feature stainless steel appliances and cabinet storage
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
$13,790
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
4.93%
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%
$275,800
$275.8K
Cap Rate 7%
$197,000
$197.0K
Cap Rate 9%
$153,222
$153.2K
Market Conditions
NOI Build-Up for 1,572 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
$21.9K $13.92/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$19.7K $12.53/SF
− OpEx
−$5.9K −$3.76/SF
NOI
$13.8K $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%
$275,800
Cap Rate 7%
$197,000
Cap Rate 9%
$153,222
Alternative Uses
Best Use
Multifamily LT 5
$197.0K
$172.4K – $229.8K
NOI $13,790 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.7K
NOI $11,979 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$463.5K
$405.6K – $540.8K
NOI $32,446 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,125
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?
Duplex - Income-producing residential property with separate living spaces, updated kitchen features, and no HOA fees.
Where is this duplex located?
The property is located at 554 Spruce Street Daytona Beach, FL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,572 square feet of total property size; Each unit includes 2 bedrooms and 1 full bathroom; Kitchens feature stainless steel appliances and cabinet storage
