Commercial property in Daytona Beach, Florida 276.11 sq.m. № 2134580

Property description

STABILIZED 7-UNIT CASH COW PRODUCING AN 8% CAP RATE ON ASKING (AFTER TAXES, INSURANCE, AND EXPENSES)! 3 STREETS FROM THE BEACH! This is a rare, high-performing asset with a confirmed zoning of up to 10 units, and land use of 7 units per the Property Appraiser and zero code violations. This property delivers a strong 8% return in its current state, offering a proven track record of reliable income with even further room for appreciation. The property is fully stabilized with long-term tenants on active leases (6–12 months remaining) who take great pride in the property. Key features include a 2018 roof, solid mechanicals, on-site parking, a common patio area for tenants, and a "High and Dry" X flood zone designation. AS A BONUS: There is a large storage unit on-site that was previously an apartment and could be converted back for additional revenue. Located walking distance to the Main Street Pier and beach access, the equity here is undeniable: a 4-unit property just two doors down recently sold for $600k—this is 7 units with immediate, verifiable cash flow from day one.