Four-Unit Duplex
For Sale
Contact for pricing
602 Braddock Avenue, Daytona Beach, FL 32118
Two duplex buildings share one lot near oceanfront beach access, with renovated units and dedicated covered parking.
Property Size3,542 SF
Price / SF$197.35
Days on Market198
Property Features for 602 Braddock Avenue
General Information
Standard status
Active
Size
3,542 SF
Total Parking Spaces
4
Property subtype
Multifamily, Land
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1952
Buildings
2
Units
4
Listing Agency:
The Agency FL
Listed By:
Brian Hyser · License #3406447
(407) 951-2472
Source:
Crexi
Added: Feb 16
Changed: Aug 30
Last Checked: Sep 2 at 6:35AM
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 The Agency FL
Investment Insights
Based on property information with market context.
The property at 602 Braddock Avenue comprises two duplex buildings on one lot, totaling 3,542 square feet and four residential units. Each building contains one upstairs and one downstairs unit, with every unit configured as 2BR/1BA. A four-car carport serves the property, and the rear duplex received extensive renovations within the past 7 years. Improvements include partial plumbing replacement in 2022 and reconstruction of the back porch at 604 Braddock Avenue.
The Daytona Beach property sits half a block from the ocean and near Sun Splash Park beach access. Both buildings have been fully inspected, approved, and licensed by the City of Daytona Beach for multifamily rental use. The asset was built in 1952 and combines a four-unit layout with beachside proximity and covered on-site parking.
The Daytona Beach property sits half a block from the ocean and near Sun Splash Park beach access. Both buildings have been fully inspected, approved, and licensed by the City of Daytona Beach for multifamily rental use. The asset was built in 1952 and combines a four-unit layout with beachside proximity and covered on-site parking.
Key Highlights
- Four residential units across two duplex buildings on one lot
- 3,542‑square‑foot property built in 1952
- Each unit is configured as 2BR/1BA with upstairs and downstairs layouts
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
$31,072
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
4.45%
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%
$621,440
$621.4K
Cap Rate 7%
$443,886
$443.9K
Cap Rate 9%
$345,244
$345.2K
Market Conditions
NOI Build-Up for 3,542 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
$49.3K $13.92/SF
− Vacancy
−$4.9K −$1.39/SF
EGI
$44.4K $12.53/SF
− OpEx
−$13.3K −$3.76/SF
NOI
$31.1K $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%
$621,440
Cap Rate 7%
$443,886
Cap Rate 9%
$345,244
Alternative Uses
Best Use
Multifamily LT 5
$443.9K
$388.4K – $517.9K
NOI $31,072 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$385.6K
$337.4K – $449.8K
NOI $26,990 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.04M
$913.8K – $1.22M
NOI $73,107 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 32118, FL
17,906
Population
16,390
Households
1.1
Avg Household Size
58
Median Age
31%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
4,263
Density / Sq Mi
$60,418
Median Household Income
$36,153
Median Earnings
$1,283
Median Rent
$339,500
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 - Two duplex buildings share one lot near oceanfront beach access, with renovated units and dedicated covered parking.
Where is this duplex located?
The property is located at 602 Braddock Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Four residential units across two duplex buildings on one lot; 3,542‑square‑foot property built in 1952; Each unit is configured as 2BR/1BA with upstairs and downstairs layouts
