Five-Story Apartment Building with River
New
For Sale
$3,499,999
732 N Halifax Ave, Daytona Beach, FL 32118
Established multifamily property with balconies, elevator service, central AC, and on-site laundry facilities.
Property Size25,108 SF
Price / SF$139.40
Days on Market2
Property Features for 732 N Halifax Ave
General Information
Standard status
Active
Size
25,108 SF
Elevators
Yes
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
25
Amenities
central AC
balconies
coin laundry
on-site office
shop/store room
Building Details
Year Built
1963
Buildings
1
Stories
5
Construction
concrete block
Listing Agency:
Realty Pros Assured
Listed By:
Ron Wysocarski
(386) 871-7697
Source:
Ronsellsthebeach
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:02AM
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 Realty Pros Assured
Investment Insights
Based on property information with market context.
This five-story apartment building contains 25 units with a mix of one- and two-bedroom layouts. Each apartment has central AC, while 20 units include outside balconies. Concrete block construction, updated windows installed in 2012, and a 30-year roof installed in 2012 are among the property improvements. The elevator piston was replaced in 2023, and the building includes an on-site office and shop or storage room.
The property is located at 732 N. Halifax Avenue in Daytona Beach, just blocks from the beach, with views toward the Halifax River and Atlantic Intracoastal Waterway system. A coin-operated laundry room includes four seller-owned washers and four seller-owned dryers. FPL completed a new service from the street to the weather-head in 2022.
The property is located at 732 N. Halifax Avenue in Daytona Beach, just blocks from the beach, with views toward the Halifax River and Atlantic Intracoastal Waterway system. A coin-operated laundry room includes four seller-owned washers and four seller-owned dryers. FPL completed a new service from the street to the weather-head in 2022.
Key Highlights
- 25‑unit apartment building with a mix of 1- and 2‑bedroom layouts
- Five‑story concrete block construction with a 30‑year roof installed in 2012
- 20 of 25 units include outside balconies
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
$191,324
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
5.47%
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%
$3,826,480
$3.8M
Cap Rate 7%
$2,733,200
$2.7M
Cap Rate 9%
$2,125,822
$2.1M
Market Conditions
NOI Build-Up for 25,108 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
$388.7K $15.48/SF
− Vacancy
−$40.8K −$1.63/SF
EGI
$347.9K $13.85/SF
− OpEx
−$156.5K −$6.23/SF
NOI
$191.3K $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 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%
$3,826,480
Cap Rate 7%
$2,733,200
Cap Rate 9%
$2,125,822
Alternative Uses
Best Use
Apartment 5plus
$2.73M
$2.39M – $3.19M
NOI $191,324 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.40M
$6.48M – $8.64M
NOI $518,229 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,043
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?
Apartment building - Established multifamily property with balconies, elevator service, central AC, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 732 N Halifax Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $3,499,999.
What are key features of this property?
This property features: 25‑unit apartment building with a mix of 1- and 2‑bedroom layouts; Five‑story concrete block construction with a 30‑year roof installed in 2012; 20 of 25 units include outside balconies
