Search

116 Michigan Avenue, Daytona Beach, FL 32114

New Listing
$1,200,000
Property Type: Commercial Sale Baths: 2 Square Footage: 6,580 Lot Size (sq. ft.): 4,356 Status: Active
Current Price: $1,200,000 List Date: 6/30/2026 Last Modified: 6/30/2026

Overview

Description

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.

Supplements: -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 significan ...

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

Lot Features: Other Parking Features: Other Sale Includes: Building & Land

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
Listing Office: SVN Alliance Commercial Real Estate Advisors
Last Updated: June - 30 - 2026
Information deemed reliable but not guaranteed.

Compare listings

Compare