25-Unit Apartment
New
For Sale
$3,499,999
732 N Halifax Avenue, Daytona Beach, FL 32118
Residential Income, Daytona Beach, FL
Property Size25,108 SF
Lot Size0.43 Acres
Price / SF$139.40
Days on Market2
Property Features for 732 N Halifax Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Bedrooms
42
Bathrooms
42
Full bathrooms
42
Rooms
Bedroom 30, Bedroom 18, Bathroom 34, Bedroom 36, Bedroom 16, Bathroom 14, Bathroom 13, Bedroom 35, Bathroom 24, Bedroom 6, Bathroom 36, Bedroom 12, Bedroom 34, Bedroom 11, Bedroom 7, Bathroom 4, Bedroom 17, Bathroom 23, Bathroom 3, Bedroom 33, Bedroom 31, Bedroom 38, Bedroom 32, Bedroom 1, Bathroom 22, Bedroom 23, Bedroom 29, Bathroom 16, Bathroom 20, Bathroom 31, Bedroom 41, Bedroom 3, Bathroom 35, Bathroom 12, Bathroom 19, Bedroom 14, Bathroom 6, Bathroom 27, Bedroom 22, Bedroom 39, Bathroom 18, Bathroom 7, Bathroom 25, Bathroom 26, Bathroom 5, Bathroom 28, Bathroom 9, Bathroom 21, Bedroom 10, Bedroom 21, Bedroom 19, Bedroom 42, Bedroom 25, Bedroom 28, Bathroom 30, Bathroom 17, Bathroom 37, Bathroom 2, Bathroom 11, Bedroom 37, Bathroom 41, Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 33, Bathroom 42, Bedroom 13, Bedroom 9, Bedroom 40, Bedroom 27, Bathroom 32, Bathroom 8, Bathroom 15, Bathroom 39, Bedroom 20, Bathroom 38, Bedroom 15, Bedroom 4, Bedroom 8, Bathroom 29, Bathroom 10, Bedroom 24, Bathroom 40, Bedroom 26
Parking
36
Parking features
Assigned, Off Street, Parking Lot, Covered
Security features
Security Lighting
Exterior features
Balcony, Impact Windows
Appliances
Refrigerator, Microwave, Electric Range
Subdivision
East Daytona
Lot features
Sprinklers In Front
View
Bridge, City, Marina, River
Directions
Mason St east to Seabreeze Bridge . Left on Halifax Ave. 1.5 blocks N of Seabreeze Blvd
Standard status
Active
APN
5305-01-08-0023
Size
25,108 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 1/2 OF LOT 2 BLK 8 EAST DAYTONA PER OR 3955 PG 0204 PER DC 5413 PG 4838 PER OR 5413 PGS 4869-4872 INC PER OR 6008 PGS 3152-3153 PER OR 6633 PG 2945 PER OR 6773 PG 2513
Tax Annual Amount
35227
Legal Description
W 1/2 OF LOT 2 BLK 8 EAST DAYTONA PER OR 3955 PG 0204 PER DC 5413 PG 4838 PER OR 5413 PGS 4869-4872 INC PER OR 6008 PGS 3152-3153 PER OR 6633 PG 2945 PER OR 6773 PG 2513
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Separate Meters, Central Air, Multi Units
Water source
Public
Amenities
central AC
outside balconies
coin operated laundry room
on site office
shop/store room
Building Details
Year built
1963
Floors in Building
3
Number of units
25
Flooring type
Tile
Building materials
Block, Concrete
Roof type
Membrane
Listing Agency:
Miller Real Estate and Assoc.
(386) 677-3002
Listed By:
Matt Gomes
(386) 864-1806
Added: Sep 1
Last Checked: Sep 2 at 1:06PM
MLS# 1230309
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-story apartment building in Daytona Beach contains 25 units with a mix of one- and two-bedroom layouts. The property measures 25,108 square feet on 0.43 acres and was built in 1963. Units feature central air, tile flooring, and individual cooling meters, while the concrete block construction includes updated windows and a membrane roof. Twenty units have exterior balconies. The property also includes an on-site office, shop and storage room, and a coin-operated laundry room with four seller-owned washers and four dryers.
Located at 732 N. Halifax Avenue, the building is positioned just blocks from the beach and offers views toward the Halifax River and Atlantic Intracoastal Waterway system. Public water and sewer serve the property, with assigned, off-street, lot, and covered parking available. The elevator piston was replaced in 2023, and the electrical service was updated from the street to the weatherhead in 2022.
Located at 732 N. Halifax Avenue, the building is positioned just blocks from the beach and offers views toward the Halifax River and Atlantic Intracoastal Waterway system. Public water and sewer serve the property, with assigned, off-street, lot, and covered parking available. The elevator piston was replaced in 2023, and the electrical service was updated from the street to the weatherhead in 2022.
Key Highlights
- 25 units with a mix of 1- and 2‑bedroom layouts
- 25,108 square feet on 0.43 acres
- Five‑story concrete block apartment building constructed in 1963
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 - Five-story apartment property with one- and two-bedroom layouts, central air, balconies, and Halifax River views.
Where is this apartment building located?
The property is located at 732 N Halifax Avenue 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 units with a mix of 1- and 2‑bedroom layouts; 25,108 square feet on 0.43 acres; Five‑story concrete block apartment building constructed in 1963
