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37 S Halifax Ave 5,588 SF Specialty Building Offered at $950,000 at a 8% Cap Rate in Daytona Beach, FL 32118
Investment Highlights
- Triple-Frontage Visibility: Boasts exceptional exposure and access with frontage on three streets: Peninsula Drive, Halifax Avenue, and Harvey Avenue.
- Versatile RP Zoning: Allows for a wide range of professional offices, multifamily dwellings, and assisted living facilities.
- Turnkey Income with Growth Upside: Fully leased to a long-term professional tenant with built-in annual escalation clauses, providing immediate yield
Executive Summary
Investment Highlights: 42 S. Peninsula & Adjacent Parcels
Daytona Beach, FL | Zoned RP (Residential/Professional)
This investment offering combines a stabilized, income-producing professional office with a strategic land assemblage for future high-density development in the prime beachside corridor.
Financial & Asset Overview
- Established Income: The main 5,588 SF building is a well-established professional office leased to a long-term accounting firm.
- Growth Structure: Existing lease includes escalation clauses, providing a hedge against inflation and a consistent increase in yield.
- Strong Performance: The primary property currently maintains a high cap rate with stable operating income.
- Strategic Assemblage: The sale includes the main office building plus three neighboring vacant parcels, totaling approximately 0.54 acres ($23,368$ SF).
Location & Connectivity
- Triple Frontage: Exceptional visibility and logistics with frontage on two main arteries—Peninsula Drive and Halifax Avenue—and the side street, Harvey Avenue.
- Market Position: Located in a highly desirable beachside area with high demand for both professional services and residential units.
- Onsite Infrastructure: Property features dedicated onsite parking, a premium commodity in the beachside market.
Development Potential & Zoning Flexibility (RP District)
The property’s RP (Residential/Professional) zoning offers a unique "fallback" or "pivot" strategy, allowing for a variety of uses as defined by the City of Daytona Beach:
Permitted Professional Uses:
- Professional Offices: Legal, engineering, accounting, and business services.
- Medical & Health: Nursing home facilities, assisted living, and hospice residential facilities.
- Education/Care: Child care facilities, adult day care, and private or public schools.
Permitted Residential Uses:
- Multifamily: Ideal for Multifamily Dwellings or Multifamily Complexes.
- Single-Family/Duplex: Detached dwellings and duplexes are permitted by right.
Special Use Opportunities (With Permit):
- Residential Subdivisions: Townhouse or duplex subdivisions.
- Community Services: Museums, libraries, or community centers.
Redevelopment Strategy
The combination of the existing 5,588 SF structure and the three vacant lots provides a developer the footprint necessary for a significant Multifamily Complex or an Assisted Living Facility, both of which are permitted under current RP design standards.
Daytona Beach, FL | Zoned RP (Residential/Professional)
This investment offering combines a stabilized, income-producing professional office with a strategic land assemblage for future high-density development in the prime beachside corridor.
Financial & Asset Overview
- Established Income: The main 5,588 SF building is a well-established professional office leased to a long-term accounting firm.
- Growth Structure: Existing lease includes escalation clauses, providing a hedge against inflation and a consistent increase in yield.
- Strong Performance: The primary property currently maintains a high cap rate with stable operating income.
- Strategic Assemblage: The sale includes the main office building plus three neighboring vacant parcels, totaling approximately 0.54 acres ($23,368$ SF).
Location & Connectivity
- Triple Frontage: Exceptional visibility and logistics with frontage on two main arteries—Peninsula Drive and Halifax Avenue—and the side street, Harvey Avenue.
- Market Position: Located in a highly desirable beachside area with high demand for both professional services and residential units.
- Onsite Infrastructure: Property features dedicated onsite parking, a premium commodity in the beachside market.
Development Potential & Zoning Flexibility (RP District)
The property’s RP (Residential/Professional) zoning offers a unique "fallback" or "pivot" strategy, allowing for a variety of uses as defined by the City of Daytona Beach:
Permitted Professional Uses:
- Professional Offices: Legal, engineering, accounting, and business services.
- Medical & Health: Nursing home facilities, assisted living, and hospice residential facilities.
- Education/Care: Child care facilities, adult day care, and private or public schools.
Permitted Residential Uses:
- Multifamily: Ideal for Multifamily Dwellings or Multifamily Complexes.
- Single-Family/Duplex: Detached dwellings and duplexes are permitted by right.
Special Use Opportunities (With Permit):
- Residential Subdivisions: Townhouse or duplex subdivisions.
- Community Services: Museums, libraries, or community centers.
Redevelopment Strategy
The combination of the existing 5,588 SF structure and the three vacant lots provides a developer the footprint necessary for a significant Multifamily Complex or an Assisted Living Facility, both of which are permitted under current RP design standards.
Property Facts
| Price | $950,000 | Building Class | B |
| Price Per SF | $170.01 | Lot Size | 0.40 AC |
| Sale Type | Investment or Owner User | Building Size | 5,588 SF |
| Cap Rate | 8% | No. Stories | 2 |
| Property Type | Specialty | Year Built/Renovated | 1920/2020 |
| Property Subtype | School | Parking Ratio | 2.25/1,000 SF |
| Zoning | 02RP - RP zoning allows professional offices, multifamily/single-family homes, and assisted living. It blends residential and business uses. | ||
| Price | $950,000 |
| Price Per SF | $170.01 |
| Sale Type | Investment or Owner User |
| Cap Rate | 8% |
| Property Type | Specialty |
| Property Subtype | School |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 5,588 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2020 |
| Parking Ratio | 2.25/1,000 SF |
| Zoning | 02RP - RP zoning allows professional offices, multifamily/single-family homes, and assisted living. It blends residential and business uses. |
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Walk Score®
Very Walkable (76)
Property Taxes
| Parcel Number | 5305-01-25-0130 | Improvements Assessment | $97,040 |
| Land Assessment | $105,000 | Total Assessment | $202,040 |
Property Taxes
Parcel Number
5305-01-25-0130
Land Assessment
$105,000
Improvements Assessment
$97,040
Total Assessment
$202,040
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