8-Unit Apartment
New
For Sale
$899,000
601 State Avenue, Daytona Beach, FL 32117
Apartments have central air conditioning and separately metered electric service.
Property Size5,194 SF
Lot Size0.14 Acres
Price / SF$173.08
Days on Market2
Property Features for 601 State Avenue
General Information
Standard status
Active
Size
5,194 SF
Lot size
0.14 Acres
Property subtype
Residential Income
Zoning
09R7
Units
Unit Mix
3 x 2BR/1BA, 5 x 1BR/1BA
Multifamily Units
8
Individually Metered Utilities
electricity
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,158
Amenities
central air conditioning
true
8
false
11
Public Records
Ninguno
Public
6161
0.14
Asphalt
Balcony
Slab
1
Building Details
Year Built
1973
Construction
block
Listing Agency:
(386) 590-9840
Listed By:
Jim Tobin
Source:
Bestwayrealtyofvolusiallc
Added: Oct 30
Last Checked: Oct 30 at 3:18PM
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 Jim Tobin
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Investment Insights
Based on property information with market context.
At 601 State Avenue in Daytona Beach, this 8-unit apartment property contains 5,194 square feet on a 0.14-acre parcel. Constructed in 1973, the building has block exterior walls and a slab foundation. Its residences comprise three 2-bedroom/1-bath units and five 1-bedroom/1-bath units. Each apartment has central air conditioning and separate electric metering. The owner covers city water, sewer, and trash service.
Key Highlights
- 8 apartments: three 2‑bedroom/1‑bath units and five 1‑bedroom/1‑bath units
- 5,194 square feet on a 0.14‑acre parcel
- Built in 1973
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,578
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,560
$791.6K
Cap Rate 7%
$565,400
$565.4K
Cap Rate 9%
$439,756
$439.8K
Market Conditions
NOI Build-Up for 5,194 SF
Gross rent
$80.4K $15.48/SF
− Vacancy
−$8.4K −$1.63/SF
EGI
$72.0K $13.85/SF
− OpEx
−$32.4K −$6.23/SF
NOI
$39.6K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,560
Cap Rate 7%
$565,400
Cap Rate 9%
$439,756
Alternative Uses
Best Use
Apartment 5plus
$565.4K
$494.7K – $659.6K
NOI $39,578 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,204 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
Median Home Value
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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?
Apartment building - Apartments have central air conditioning and separately metered electric service.
Where is this apartment building located?
The property is located at 601 State Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 8 apartments: three 2‑bedroom/1‑bath units and five 1‑bedroom/1‑bath units; 5,194 square feet on a 0.14‑acre parcel; Built in 1973
