116-128 Michigan Avenue

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Address: 116 Michigan Ave, Daytona Beach, FL 32114, USA
Florida & Gulf Coast + Apartment Buildings
Created date: June 30, 2026
Date last updated: October 1, 2026
Price: $1,200,000Investment Analyzer NEW!
  • -8.8% cap rate — strong current yield with proven, stabilized income from a fully-occupied portfolio across five contiguous addresses.
  • - 92% occupancy — 12 units are tenant-occupied, 1 unit being remodeled, providing immediate day-one cash flow with limited 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.

Property 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 8.8% 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.
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Broker Details

Mark Ascik
Mark Ascik

SVN | Alliance Commercial Real Estate Advisors 407-334-4200

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Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $1,200,000
No. of Units: 14
Opportunity Zone: No
Price per unit: $85,714
Property Website Click Here
Address: 116-128 Michigan Avenue, Daytona Beach, FL 32114, USA
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