$325,000
Est. payment /mo
0.74 Acres Lot
New
440 S Caroline ST Daytona Beach, FL 32114
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Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Subdivision Daytona Gardens Plat 6
MLS Listing ID A12066391
HOA Y/N No
Annual Tax Amount $1,024
Tax Year 2025
Lot Size 0.740 Acres
Acres 0.74
Property Sub-Type Unimproved Land
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
Location
State FL
County Volusia
Area 5940 - Other Florida County
Direction North
Rooms
Other Rooms None
Interior
Interior Features InteriorFeatures
Fireplace No
Exterior
Water Access Desc Public
Present Use Other,Residential,Single Family,Unimproved
Street Surface Paved
Road Frontage Public Road
Building
Faces North
Water Public
Additional Building None
Others
Tax ID 523907420120
Acceptable Financing Cash, Conventional, Owner Will Carry, Other
Listing Terms Cash, Conventional, Owner Will Carry, Other
Listed by Sagrario L Garcia SFRMC Realty
NEARBY SCHOOL & BUSINESS
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