Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1 Clyde Morris Blvd South Daytona, FL 32119
    Property profile & analytics

    1 Clyde Morris Blvd South Daytona, FL 32119

    View on Map
    • Apartment buildings
    • 10.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1 Clyde Morris Blvd

    Year built
    1987
    Lot size
    10.00 lot acres
    Property type
    Apartment buildings

    Description

    This exceptional 50-unit apartment complex in South Daytona, Florida, presents a compelling value-add investment opportunity. The property, known as Bella Sylvia, consists of six single-story buildings situated on 10 acres of land. Built in 1987 and renovated in 2023, the Class B property boasts 100% occupancy and a current NOI of $475,000, projecting to $546,000. The asking price is $8,500,000, representing a price per unit of $170,000 and a current cap rate of 5.59%, with a pro-forma cap rate of 6.42%. The property features central heating and air conditioning, on-site laundry facilities, and is strategically located on Clyde Morris Boulevard, experiencing high daily traffic volume. Its proximity to major roadways (I-4 and I-95), Embry-Riddle Aeronautical University, Daytona State College, UCF, Halifax Hospital, Daytona International Speedway, shopping centers, and the beach (6 miles away) enhances its appeal. The property's location near the Amazon Fulfillment Center further contributes to its investment potential. Approximately 55% of the units offer potential for full renovations to command higher rental premiums. The permitted zoning is multifamily. This well-maintained asset offers significant upside potential for a savvy investor. The property's strong performance and prime location make it an attractive addition to any portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -81.0393
    Latitude
    29.1606

    Comparable in this City

    • Value Estimation by Request

      Buchanan Way

      Multifamily properties
      0 Buchanan Way, South Daytona, FL 32119
      View Details
    • Value Estimation by Request
      3,364 SF

      1600 Jones St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,364 SF
      1600 Jones St, South Daytona, FL 32119-2169
      View Details
    • Value Estimation by Request
      6.06 Acres

      Big Tree Rd

      Land • 6.06 Acres
      0 Big Tree Rd, South Daytona, FL 32119
      View Details
    • Value Estimation by Request

      Venture Dr

      VACANT COMMERCIAL LAND
      Venture Dr, Daytona Beach, FL 32119
      View Details
    • Value Estimation by Request

      200 Frst Lk Blvd

      VACANT COMMERCIAL LAND
      200 Frst Lk Blvd, Daytona Beach, FL 32119-8113
      View Details
    • Value Estimation by Request
      0.12 Acres

      Mcdonald St

      RESIDENTIAL PARKING GARAGE • 0.12 Acres
      Mcdonald St, Daytona Beach, FL 32119
      View Details

    Similar Nearby for Sale

    • $960,000
      8,016 SF

      South Daytona Multi-Family Investment Property

      Six townhouse-style units, fully rented, near the beach.
      644 Northern Rd, South Daytona, FL 32119
      View Details
    • Contact for pricing
      4,926 SF

      Remodeled Storage Facility with Apartments

      Storage facility with apartments, cabinet shop, and owner financing.
      1018 Cutters Way, South Daytona, FL 32119
      View Details
    • $799,000
      4,926 SF

      Remodeled Storage Facility with Apartments

      South Daytona storage facility with apartments and cabinet shop.
      1018 Cutters Way, South Daytona, FL 32119
      View Details
    • $960,000
      8,016 SF

      South Daytona Multifamily Investment Property

      Six townhouse-style units, fully rented, near beach, schools, and amenities.
      644 Northern Rd, South Daytona, FL 32119
      View Details
    • $2,300,000
      10,800 SF

      Renovated Apartment Building Investment Opportunity

      South Daytona apartment building with seven renovated units near beaches.
      337 Rutledge Ave, South Daytona, FL 32119
      View Details
    • Contact for pricing
      118,412 SF

      Daytona Beach Multifamily Investment

      108-unit apartment complex built in 1985, Daytona Beach.
      1756 S Clyde Morris Blvd, Daytona Beach, FL 32119
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,913 SF

      South Daytona Retail Space for Lease

      Prime Retail Space, 1913 sq ft, Flexible Lease
      927 Beville Rd, South Daytona, FL 32119
      View Details
    • Contact for pricing

      Retail Space in Big Tree Plaza

      2,200 SF retail space for lease in South Daytona.
      2030 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $5,454 /Mo
      18,304 SF

      South Daytona Commercial Showroom Space

      Showroom with perimeter offices and roll-up door for lease.
      2841 S Nova Rd, South Daytona, FL 32119
      View Details
    • Contact for pricing

      Second Floor Office Spaces Available

      Second floor office spaces for lease with shared amenities.
      1635 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $13,376 /Mo
      14,348 SF

      South Daytona Mixed-Use Commercial Building

      14,368 SF mixed-use building for lease in South Daytona.
      2040 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    • $2,700 /Mo
      1,520 SF

      South Daytona Office Space Available

      Prime office space for lease in high-traffic South Daytona location.
      3113 S Ridgewood Ave, South Daytona, FL 32119
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 Clyde Morris Blvd
    South Daytona, FL 32119
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1 Clyde Morris Blvd, South Daytona, FL, 32119
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!