Renovated Duplex Near the
For Sale
$545,000
701 N GRANDVIEW AVENUE, Daytona Beach, FL 32118
Two updated units with assisted living zoning and convenient access to the shoreline.
Property Size2,400 SF
Price / SF$227.08
Days on Market731
Property Features for 701 N GRANDVIEW AVENUE
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,422
Building Details
Year Built
1965
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
Jean-Romel Semexant · License #3191145
(407) 353-8710
Source:
Exitrealty
Added: Sep 5, 2024
Changed: Sep 2
Last Checked: Sep 4 at 11:20AM
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 CHARLES RUTENBERG REALTY ORLANDO
Investment Insights
Based on property information with market context.
This duplex contains 2,400 SF with a five-bedroom, three-bathroom layout divided between two residences. Unit A offers a three-bedroom, two-bath configuration, while Unit B includes two bedrooms, one bath, and a large family room. Renovations include new HVAC systems, plumbing, sewer, electrical service, flooring, doors, roofing, and vinyl fencing, along with tankless water heaters and vinyl dual-pane impact-resistant windows.
The property is located at 701 N Grandview Avenue in Daytona Beach, approximately one short block from the shoreline. The surrounding area includes recreational activities, dining, and entertainment options. Zoning supports an assisted living facility, and the property also provides space for parking and storage. Built in 1965, the duplex combines a defined unit layout with extensive documented updates.
The property is located at 701 N Grandview Avenue in Daytona Beach, approximately one short block from the shoreline. The surrounding area includes recreational activities, dining, and entertainment options. Zoning supports an assisted living facility, and the property also provides space for parking and storage. Built in 1965, the duplex combines a defined unit layout with extensive documented updates.
Key Highlights
- 2,400 SF duplex with five bedrooms and three bathrooms
- Unit A: 3/2; Unit B: 2/1 with large family room
- Zoning supports an Assisted Living Facility
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
$21,054
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
3.86%
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%
$421,080
$421.1K
Cap Rate 7%
$300,771
$300.8K
Cap Rate 9%
$233,933
$233.9K
Market Conditions
NOI Build-Up for 2,400 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
$33.4K $13.92/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$30.1K $12.53/SF
− OpEx
−$9.0K −$3.76/SF
NOI
$21.1K $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%
$421,080
Cap Rate 7%
$300,771
Cap Rate 9%
$233,933
Alternative Uses
Best Use
Multifamily LT 5
$300.8K
$263.2K – $350.9K
NOI $21,054 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$261.3K
$228.6K – $304.8K
NOI $18,288 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$707.7K
$619.2K – $825.6K
NOI $49,536 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
901
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 updated units with assisted living zoning and convenient access to the shoreline.
Where is this duplex located?
The property is located at 701 N GRANDVIEW AVENUE Daytona Beach, FL.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 2,400 SF duplex with five bedrooms and three bathrooms; Unit A: 3/2; Unit B: 2/1 with large family room; Zoning supports an Assisted Living Facility
