Beachside 9-Unit
For Sale
$1,350,000
922 S Atlantic, Daytona Beach, FL 32118
Nine-unit multifamily property with ocean-view units, plus an adjoining commercially zoned parcel included in the sale.
Property Size5,517 SF
Days on Market15
Property Features for 922 S Atlantic
General Information
Standard status
Active
Size
5,517 SF
Property subtype
Commercial
Additional Details
Multifamily Units
9
Building Details
Building Size
5,517 SF
Tenancy
Multi
Listing Agency:
Epique Realty
(386) 679-0888
Listed By:
Dino Dodani · License #SL3221388
(386) 679-0888
Source:
Elliman
Added: Jul 24
Changed: Jul 26
Last Checked: Aug 7 at 3:50AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This 9-unit multifamily property offers ocean views from select units and is positioned directly across from the Atlantic Ocean. The sale includes an adjoining commercially zoned parcel, which provides additional land for parking and possible future development, expansion, or redevelopment, subject to buyer verification and municipal approvals.
The location is described as beachside, with easy beach access and nearby dining, shopping, and entertainment. The included public remarks also note walk and bike scores indicating a more car-dependent area, with some transit.
Buyers should verify all zoning, dimensions, allowable uses, and development potential prior to closing.
The location is described as beachside, with easy beach access and nearby dining, shopping, and entertainment. The included public remarks also note walk and bike scores indicating a more car-dependent area, with some transit.
Buyers should verify all zoning, dimensions, allowable uses, and development potential prior to closing.
Key Highlights
- 9‑unit multifamily property directly across from the Atlantic Ocean
- Ocean views available from select units
- Sale includes an adjoining commercially zoned parcel
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
$42,040
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
3.11%
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%
$840,800
$840.8K
Cap Rate 7%
$600,571
$600.6K
Cap Rate 9%
$467,111
$467.1K
Market Conditions
NOI Build-Up for 5,517 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
$85.4K $15.48/SF
− Vacancy
−$9.0K −$1.63/SF
EGI
$76.4K $13.85/SF
− OpEx
−$34.4K −$6.23/SF
NOI
$42.0K $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%
$840,800
Cap Rate 7%
$600,571
Cap Rate 9%
$467,111
Alternative Uses
Best Use
Apartment 5plus
$600.6K
$525.5K – $700.7K
NOI $42,040 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,871 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
502
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 - Nine-unit multifamily property with ocean-view units, plus an adjoining commercially zoned parcel included in the sale.
Where is this apartment building located?
The property is located at 922 S Atlantic Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 9‑unit multifamily property directly across from the Atlantic Ocean; Ocean views available from select units; Sale includes an adjoining commercially zoned parcel
