Current Use by Public Records
- Retail properties & Spaces
Property Details for 0 Main St Daytona Bch
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a four-tenant net lease portfolio situated on Main Street in Daytona Beach, Florida, boasting a prime location on the "World's Most Famous Beach." The portfolio comprises four buildings totaling $8,125,000, featuring a diverse mix of bar, restaurant, and storefront tenants, all operating under long-term leases with a remaining term of 8.6 years, commencing June 22, 2023, and expiring June 21, 2033. The property enjoys 100% occupancy, generating a substantial net operating income (NOI) of $650,000, translating to an attractive 8.00% cap rate. Each lease includes 3% annual escalations starting in year four, providing built-in protection against inflation. Two of the tenants have renewal options: Stroud's BBQ has one five-year renewal option, and Doghouse has two five-year renewal options. The portfolio benefits from its location within a vibrant tourist corridor, attracting significant foot traffic throughout the year, particularly during peak seasons like Bike Week, Race Week, and Spring Break. Recently renovated in 2023, this fee-simple ownership offers a compelling investment with strong potential for long-term growth and redevelopment. The property is zoned for commercial use. This is a rare opportunity to acquire a well-established, high-performing net lease portfolio in a highly desirable location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Daytona Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.0139
- Latitude
- 29.2246
