0 Main St Daytona BchDaytona Beach, FL 32118

Property Details for 0 Main St Daytona Bch

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a four-tenant net lease portfolio situated on Main Street in Daytona Beach, Florida, boasting a prime location on the "World's Most Famous Beach." The portfolio comprises four buildings totaling $8,125,000, featuring a diverse mix of bar, restaurant, and storefront tenants, all operating under long-term leases with a remaining term of 8.6 years, commencing June 22, 2023, and expiring June 21, 2033. The property enjoys 100% occupancy, generating a substantial net operating income (NOI) of $650,000, translating to an attractive 8.00% cap rate. Each lease includes 3% annual escalations starting in year four, providing built-in protection against inflation. Two of the tenants have renewal options: Stroud's BBQ has one five-year renewal option, and Doghouse has two five-year renewal options. The portfolio benefits from its location within a vibrant tourist corridor, attracting significant foot traffic throughout the year, particularly during peak seasons like Bike Week, Race Week, and Spring Break. Recently renovated in 2023, this fee-simple ownership offers a compelling investment with strong potential for long-term growth and redevelopment. The property is zoned for commercial use. This is a rare opportunity to acquire a well-established, high-performing net lease portfolio in a highly desirable location.

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2246

Longitude

-81.0139

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