204 Seabreeze Blvd Daytona Beach, FL 32118-4026

Property Details for 204 Seabreeze Blvd

Year built

1925

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.22 lot acres

Property size

5,121 SF

Property type

Retail space

APN

5305-01-06-0180

APU

530501060180

Description

This exceptional Daytona Beach retail property, located at 204 Seabreeze Blvd, offers a compelling investment opportunity. The 5,121 square foot, single-story building sits on a 0.22-acre lot and boasts 100% occupancy with five service-based retail tenants. Built in 1925 and renovated in 1991, the property features a gross lease structure and generates a substantial NOI of $74,264, representing a 7.54% cap rate at an asking price of $985,000 ($192.35/sq ft). The property benefits from valuable on-site parking in a densely populated retail and entertainment corridor, just off the Mason Avenue Bridge and less than half a mile from Daytona Beach's downtown area. Its prime location near the world-famous Daytona Beach and pier, which attracts over 10 million visitors annually, ensures high foot traffic and strong demand. The area's robust economy, fueled by the Daytona Beach International Airport and Daytona International Speedway (generating $1.9 billion annually), further enhances the property's investment potential. The surrounding area boasts a population exceeding 107,000 within a 5-mile radius, projected to grow by 2027, with a daytime population exceeding 155,000. Proximity to major attractions like the Ocean Center and over 12,000 hotel rooms within the market provides additional demand drivers. This value-add opportunity presents the potential for increased returns through lease conversions and rent adjustments. The property is subject to a ground lease.