Property profile

624 Atlantic Ave Daytona Beach, FL 32118

OFF-MARKET
Assisted living facilities
Property ID
US19-0666805
16,731 SF 0.81 ac lot Built 1946
Entity Owned 5-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional investment opportunity presents a 85-bed assisted living facility (ALF) in Daytona Beach, Florida, situated directly across from the beach and conveniently located near Daytona International Speedway and Airport. The property, encompassing 0.806 acres, features a 16,731 square foot, two-story building constructed in 1946. Currently operating at 90% occupancy as a limited memory care facility, the property offers significant upside potential. The existing structure requires upgrades and repairs, including a new roof and cosmetic improvements. However, the permitted zoning allows for expansion or complete redevelopment, including the possibility of converting to a nursing home (with a special use permit) or establishing an adult day care center. The fee-simple ownership offers a rare chance to acquire a well-located, established ALF with substantial growth potential. The property's prime location and the potential for expansion or redevelopment make this an attractive investment for experienced operators seeking to capitalize on the growing demand for senior care services in the Daytona Beach area. The asking price is $5,500,000, representing a price per bed of $64,705. The property's APN is 09 15 33 25 01 0010.

Property profile

Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1946
Construction CONCRETE
Total area 16,731 SF
Lot 0.81 ac (35,121 SF)
APN 5309-25-01-0010
UPID US19-0666805

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Nursing Home Retirement Community

Location

624 Atlantic Ave Daytona Beach, FL 32118-4510
Daytona Beach metro Census 81300 DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.90M
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.40M
Blend (final) Blend
$2.55M

Owner & transaction history

since 2021
Last sale
$3.4M
3 recorded transactions
2021
$3.4M
2016
$2.7M
2004
$3.0M

Zoning & alternative use

Top alternative use upside
Warehouse, storage $5.0M +30.6%
Auto repair, garage $4.2M +9.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 624 Atlantic Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message