2 Atlantic Ave Daytona Beach, FL 32118
- Bars
- 8,660 SF
- 0.29 lot acres
Current Use by Public Records
- Cruisin Cafe / Restaurant
Property Details for 2 Atlantic Ave
- Year built
- 1980
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.29 lot acres
- Property size
- 8,660 SF
- Zone code
- T3
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 5304-01-05-0210
- APU
- 530401050210
Description
This exceptional redevelopment opportunity encompasses four parcels totaling 48,002 square feet in Daytona Beach's vibrant tourism district. The property features a 12,867-square-foot mixed-use building, currently 100% occupied, with an 8,660 square-foot main structure and an additional 1,300 square feet of outdoor seating. A significant asset is the inclusion of a 21,000-square-foot parking lot adjacent to the main building, providing ample parking for any future development. An additional 2,800-square-foot building with two tenants generating $60,000 in annual gross rent (leases expiring within 24 months) is also included. The property boasts a prime location at the signalized hard corner of Main Street and South Atlantic Avenue, steps from the Ocean Center Convention Complex, Joe's Crab Shack, Hard Rock Hotel, and the Hilton Daytona Beach Oceanfront Resort. Over 2,000 hotel rooms are within a one-mile radius, ensuring high foot traffic and strong potential for various uses. The property is situated within the Main Street CRA and benefits from a city-owned parking lot providing overflow parking. The existing restaurant business does not convey with the sale. The asking price is $6,500,000 ($505.17 per square foot). The property's strategic location and significant size present a compelling investment opportunity for developers seeking to capitalize on Daytona Beach's thriving tourism market. Recent sales in the Main Street Redevelopment District indicate strong investor interest in the area. The property includes three units, two buildings, and was renovated in 1997. The permitted zoning is RDB 2. APN numbers are 530401050210, 530401050180, 530401050070, and 530401050050.
Value Estimations
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,012,000
Market price range: $536k - $1.31M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,860,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $1,835,000 Change: -1% Conversion: Difficult
- MEDICAL BUILDING
- $1,695,000 Change: -9% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,565,000 Change: -16% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Daytona Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.0083
- Latitude
- 29.2264
- CBSA code
- 19660
- CBSA name
- DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
