440 S Caroline Street, Daytona Beach, FL 32114

Property Description

The property is ideally located less than 10 minutes from the beach and in close proximity to major thoroughfares including I-95 and Hwy A1A. It’s also near Daytona Beach International Airport, Daytona State College, Bethune-Cookman University, and top-rated schools such as Spruce Creek High and Tomoka Elementary. This offering presents a significant opportunity to develop a new rental property with strong income potential ( 7.5% cap rate) in a desirable, well-connected location. The owner is including the architectural concept design approved by the authorities. PROPOSED PROJECT TO BE DONE IN THE LAND: 8 APARTMENTSFEASIBILITY ANALYSIS:8 apartments, Area per unit: 754 sqft, Total area of construction: 6,032 sqft, Cost per each sqft: $150A 13.12% capitalization rate (cap rate) on a proposed project to be done in the landAvailable upon request