1306 Atlantic Ave Daytona Beach, FL 32118

Property Details for 1306 Atlantic Ave

Year built

1959

Construction

CONCRETE

Lot size

0.65 lot acres

Property size

18,402 SF

Zone code

T1

Property type

Investment properties

Property subtype

Retail residential properties

APN

4236-05-01-0050

APU

423605010050

Description

Prime Daytona Beach oceanfront hotel, boasting 40 keys across three buildings. This renovated, retro-style property offers approximately 100 feet of direct ocean frontage and features recently updated amenities including a new TPO roof (currently being installed), new balconies, a refreshed AC system, updated kitchens and tile, and a resurfaced pool with new exterior pavers. Thirty-two rooms provide either direct oceanfront or oceanview accommodations, many feeling oceanfront due to the building's design. The hotel operates as a limited-service establishment and benefits from a turnkey operation with existing management and staff eager to continue. A strong pro-forma NOI of $574,239 translates to an 8.44% cap rate at the asking price of $6,800,000 ($170,000 per key). The property is located at 1306 N Atlantic Ave, Daytona Beach, FL 32118, in Volusia County. A private mortgage may be assumable, presenting a compelling investment opportunity. All information is deemed reliable but not guaranteed and should be independently verified.

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Longitude

-81.0181

Latitude

29.2486

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments