116 Michigan Avenue, Daytona Beach, FL 32114
New Listing
Overview
Description
Supplements: ... (Read more) -9.8% cap rate -- strong current yield with proven, stabilized income from a fully-occupied portfolio across five contiguous addresses. - 100% occupancy -- all 13 units are tenant-occupied, providing immediate day-one cash flow with no lease-up risk. - Seller Financing available - Value-add upside -- renovate units at turnover to capture significant rental rate increases in a strengthening downtown submarket. - Riverfront Esplanade -- steps from the new Daytona Beach Riverfront Esplanade, a major public infrastructure investment enhancing walkability and neighborhood appeal. - 400 Beach luxury development -- adjacent to the 304-unit luxury apartment community at 400 Beach, validating strong rental demand and supporting market rent growth. - Major employer anchor -- Brown & Brown Insurance's global headquarters provides a substantial base of high-income professionals in the immediate trade area. - Jackie Robinson Ballpark -- proximity to a historic, active venue that drives foot traffic, local commerce, and neighborhood vitality throughout the year. Portfolio scale -- five-address assemblage across Michigan Ave and N Beach St offers operational efficiencies and long-term redevelopment optionality.
Listing Details MLS# 1228094
General Property Information
- Bathrooms Total
- 2
- Building Area Total
- 6580
- Year Built
- 1920
- Lot Size Acres
- 0.1
- Waterfront YN
- No
- Directions
- Nestled in the heart of Daytona Beach, the area surrounding the property offers an enticing blend of coastal charm and urban convenience.
- Public Remarks
- A rare opportunity to acquire a fully-occupied, 13-unit multifamily portfolio in the heart of Downtown Daytona Beach. Spanning five addresses across Michigan Avenue and N Beach Street, this portfolio delivers immediate income at a compelling 9.8% cap rate -- with meaningful upside through unit renovations and rental rate increases. Positioned at the center of one of Daytona Beach's most active redevelopment corridors, the properties benefit from proximity to transformative projects redefining the city's riverfront. The surrounding area is experiencing substantial institutional investment, bringing new amenities, employers, and residents that support continued rent growth for years to come.
- List Price/SqFt
- 182.37
Property Features
Contract Information
- Listing Contract Date
- 2026-06-30
- Property Sub Type
- Multi Family
Location Tax and Legal
- Street Number
- 116
- Street Name
- Michigan
- Street Suffix
- Avenue
- County
- Volusia
- State
- FL
- Postal Code
- 32114
- MLS Area Major
- 34 - Daytona ISB to Mason, E of 95
Status Change Information
- Major Change Timestamp
- 2026-06-30T14:03:10Z
- Major Change Type
- New Listing
Location, Tax, and Legal
- Country
- US
- Parcel Number
- 5338-41-00-0170
- Tax Annual Amount
- 2014.68
- Tax Year
- 2025
- Tax Legal Description
- 38-15-33 LOT 17 D D ROGERS MB 5 PG 139 MB 18 PG 15 RESUB OF D D ROGERS DB C PG 700 MB 14 PG 110 PER OR 4411 PG 0406
More Information
Currently Not Used
- Bathrooms Total
- 2
- Year Built
- 1920
Lot Features
- Other
- Yes
Parking Features
- Other
- Yes
Sale Includes
- Building & Land
- Yes