340 Beach StDaytona Beach, FL 32114

Property Details for 340 Beach St

Year built

1982

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.25 AC

Property size (Sq ft)

4,537 SF

Zone code

BP

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

5339-01-04-0023

APU

533901040023

Description

This Daytona Beach, FL property offers a compelling value-add investment opportunity. Located at 340 S Beach St, this 4,537 square foot building boasts 16 tenants in a mix of medical, professional, and service-oriented businesses, ensuring diverse income streams and minimizing vacancy risk. Currently operating at 100% occupancy with a 6.12% cap rate and a pro-forma cap rate of 10.57%, this multi-tenant building presents significant upside potential. All tenants are on short-term gross leases, allowing for conversion to triple-net (NNN) leases, maximizing returns. The property features a renovated interior with common areas and benefits from a prime location in a high-traffic area, attracting nearly 10 million visitors annually. Built in 1982 on a 0.26-acre lot, the building offers 2,815 square feet of net rentable space. The current Net Operating Income (NOI) is $50,182, with a pro-forma NOI of $86,653. Annual rent bumps of 5% provide a strong hedge against inflation. This fee-simple ownership opportunity is priced at $820,000 ($180.74/sq ft) and is ideal for both owner-users and long-term investors seeking stable income and growth in a thriving location. The property's location near national retailers like Firestone, CVS, Wawa, Jimmy John's, and Family Dollar further enhances its appeal. Lease options are available.

• CAP approach

  CAP return

  Valuation

  6%

  $1,181,284

  6.5%

  $1,090,416

  7%

  $1,012,529

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,037,872

  Geo Method

  $785,021

• Alternative Use

  Use

  Valuation

  Residential

  $1,090,416

  Hospitality

  $998,815

  Educational

  $831,002

  Medical

  $859,582

  Retail

  $1,292,670

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2071

Longitude

-81.0174

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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