578 Ballough RdDaytona Beach, FL 32114

Property Details for 578 Ballough Rd

Year built

1950

Construction

WOOD

Lot size

0.50 AC

Property size (Sq ft)

3,060 SF

Zone code

BW

Property type

Retail properties

Property subtype

Other retail properties

APN

5338-05-00-0440

APU

533805000440

Description

This exceptional Daytona Beach property, located at 578 Ballough Road, presents a unique investment opportunity. Encompassing a total of 21,780 square feet, this mixed-use assemblage includes three parcels totaling approximately 1.56 acres within the Downtown Ballough Road Redevelopment Area Plan. The existing 3,060 square foot building, constructed in 1950, is being sold "as is" and offers significant redevelopment potential. The property's prime location in the Daytona Design District, adjacent to the evolving Downtown Beach Street, positions it perfectly for a visionary developer. City grant opportunities exist within this redevelopment area, making this an attractive proposition for projects such as a vertical mixed-use multifamily community incorporating retail spaces. The assemblage provides a chance to revitalize and expand the area, creating a distinctive development that complements nearby businesses. This is a rare chance to shape the future of this dynamic Daytona Beach neighborhood. The asking price for this exceptional opportunity is $6,000,000. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $944,163

  6.5%

  $871,535

  7%

  $809,282

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,137,547

  Geo Method

  $860,801

• Alternative Use

  Use

  Valuation

  Residential

  $735,172

  Hospitality

  $673,414

  Educational

  $560,272

  Medical

  $579,541

  Retail

  $871,535

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2242

Longitude

-81.0232

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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