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Brentwood @ Nova Road
Daytona Beach, FL 32117 Greater Daytona

$454,000 USD

Land For Sale • 3.33 AC

Property Details

Property Type Land
Lot Size 3.33 AC
Zoning MFR-20

20 Transit Score

50 Walk Score

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.

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.

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

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.

                
                    Highlights
                
                                Zoned MFR-20
                            
                                Multifamily residential potential
                            
                                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 
                            
                                The primary source of upside is not market timing, it is unit yield expansion through planning and entitlement execution.