Brentwood Drive

• The primary source of upside is not market timing, it is unit yield expansion through planning and entitlement execution.
• The land basis provides a meaningful discount to the cost of delivering comparable new multifamily product in the region.
• Daytona Beach continues to experience strong demand for workforce and mid-market rental housing, supported by affordability pressure across Florida coastal markets.
• Development opportunity
• Prime investment location

Property Description

Coldwell Banker Commercial Realty is pleased to represents a rare infill multifamily development opportunity in Brentwood Drive, Daytona Beach, Florida, positioned within a growing residential corridor supported by expanding rental demand, strong in-migration trends, and sustained housing affordability pressure across Volusia County. Previously, a 28-unit build-to-rent tiny single-family concept was contemplated, and there remains an opportunity to continue dialogue with the City regarding alternative site plans. Additionally, the Live Local Act may provide a pathway for increased density, further enhancing long-term value creation. The site is being offered as a 90–120 unit garden-style multifamily development opportunity, with multiple density scenarios supporting both conservative and upside-driven investment strategies. At stabilized operation, the project benefits from strong rental demand in the Daytona Beach multifamily market.This strategically positioned parcel is zoned MFR-20, offering significant flexibility for a variety of development concepts. While the zoning allows for multifamily residential development (approximately 70 units), the site’s location along a strong commercial corridor near N. Nova Road and I-95 makes it particularly compelling for developers evaluating mixed-use or neighborhood-serving retail components, subject to municipal approvals. Key Assumptions: Average Rent: ~$1,650/month Expense Ratio: ~40% Exit Cap Rate: ~6.25% Under these assumptions, stabilized performance scales meaningfully with density: 90 Units - Lower bound feasibility case 100 Units - Institutional baseline case 120 Units - Upside-driven value creation case From a market standpoint, the surrounding Daytona Beach area continues to show steady demand fundamentals: Average asking rents: ~$1,500/month Studio: ~$1,113 1-Bedroom: ~$1,329 2-Bedroom: ~$1,557 3-Bedroom: ~$2,081 Projected rent growth beginning early 2026: 2%–3% annually Importantly, returns are highly sensitive to unit yield, making entitlement and design optimization the primary value drivers of the investment. Rather than a stabilized income asset, Brentwood Drive is a value-creation land play, where performance is driven by: Entitlement optimization, Density maximization, Construction efficiency, and Rent growth capture. This is a deal designed for developers who understand that in Florida infill markets, value is created; not purchased. A ground lease could be a potential scenario for further discussion, depending on the buyer’s development plans and the Seller’s objectives. The Seller has already made improvements to the site, including importing and placing fill material in two low-lying areas that periodically retain water, as well as completing general site cleanup and preparation. These improvements may provide additional flexibility for a prospective buyer or developer evaluating the property.