114 Palmetto AveDaytona Beach, FL 32114

Property Details for 114 Palmetto Ave

Year built

1935

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.22 AC

Property size (Sq ft)

2,160 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

5339-01-09-0053

APU

533901090053

Description

This exceptional 1,769 square foot office building is ideally situated in the heart of Downtown Daytona Beach, just one block from International Speedway Boulevard, ensuring high visibility for your business. The property boasts a convenient location, steps away from the historic downtown area, courthouses, and other professional offices, creating a thriving professional environment. The single-tenant building sits on a 0.22-acre lot (APN: 5339-01-09-0053) and features updated interior space including four private offices, a dedicated conference room, a well-equipped kitchen, two bathrooms, and an attractive reception area. Two designated parking spaces are included, with additional parking available. The property is currently vacant and ready for immediate occupancy. A modified gross lease is available, encompassing most expenses, offering a cost-effective solution compared to triple-net (NNN) lease structures. This turnkey office space presents a fantastic opportunity for businesses seeking a prominent location and modern amenities in a vibrant downtown setting. The building is well-maintained and offers a professional image for any business. This is a single-suite building, perfect for a single tenant seeking a complete and private office space.

• CAP approach

  CAP return

  Valuation

  6%

  $562,307

  6.5%

  $519,053

  7%

  $481,978

• Comparable approach

  Method

  Valuation

  Relative Method

  $494,022

  Geo Method

  $373,737

• Alternative Use

  Use

  Valuation

  Residential

  $519,053

  Hospitality

  $475,450

  Educational

  $395,569

  Medical

  $409,173

  Retail

  $615,329

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2107

Longitude

-81.0212

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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