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    440 Caroline St Daytona Beach, FL 32114

    Sponsored
    For Sale
    $325,000

    Prime Daytona Beach lot, 32,670 sq ft, high income potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 32,670 square foot lot, located at 440 S Caroline Street in Daytona Beach, Florida (zip code 32114), presents a lucrative multifamily development opportunity. Zoned for multifamily use, this property is ideally situated just one block from Nova Road, offering convenient access to Daytona Beach's vibrant attractions, including the beach, colleges, and the airport. The seller is including architectural plans for an eleven-unit townhome development, each featuring two bedrooms and one and a half bathrooms, along with 24 parking spaces. Preliminary estimates suggest a construction cost of approximately $1.9 million (including land acquisition), with a projected post-construction value exceeding $4 million. This translates to a potentially high cap rate, estimated at 8.98%, due to the low maintenance and operating expenses associated with new construction. The asking price for this exceptional development site is $325,000. Note that all zoning regulations and construction cost estimates should be independently verified by the prospective buyer. This property offers significant upside potential for investors and developers seeking a prime location with a well-defined development plan. The property is classified as Land and Multifamily, specifically a duplex/triplex/quadruplex.

    Property Features for 440 Caroline St

    General Information

    Property type
    Multifamily properties
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0349593
    Latitude
    29.1979926

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    FAQs

    What type of property is this?
    Multifamily property - Prime Daytona Beach lot, 32,670 sq ft, high income potential.
    Where is this multifamily property located?
    The property is located at 440 Caroline St Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $325,000.
    Request Owner's contact information
    440 Caroline St Daytona Beach, FL 32114
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    Daytona Beach, FL 32114
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    440 Caroline St Daytona Beach, FL 32114
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