405 N Charles Street Daytona Beach

Apex Capital Realty is proud to present 405 N Charles Street, a highly versatile, multi-bay industrial asset ideally positioned in the heart of Daytona Beach, Florida. Boasting direct frontage along George W. Engram Blvd and Fairview Avenue, this prime commercial property offers immediate access to the Boardwalk, Main Street Pier, and the market's most active logistics corridors.

Property Overview & Specifications

This Florida industrial property features a 37,125-square-foot warehouse situated on an oversized 3.45-acre (150,265 SF) lot, offering a highly functional layout with a desirable low site coverage ratio.

• Configuration: 5 versatile industrial bays

• Loading: 9 grade-level drive-in doors

• Clear Height: 16-foot clear heights

• Office Space: Built-out office space (approx. 10% per bay)

• Current Occupancy: 82% occupied by 4 stable tenants (30,850 SF total)

Compelling Value-Add Investment Opportunity

Priced below recent market comparable sales, 405 N Charles Street provides reliable in-place cash flow with significant near-term upside.

• Current Net Operating Income (NOI): Approx. $221,000

• Immediate Upside: Multiple tenants are currently paying below-market rents.

• Near-Term Rollover: Three leases roll within the next 12 months, providing a clear path to mark rents to market and immediately stabilize the asset.

Projected Financial Performance

By leasing up the remaining vacancy and repositioning rents to a market rate of approximately $11.50/SF NNN, investors can significantly maximize returns.

• Projected Stabilized Cap Rate: 10.59%

• Investment Outlook: Substantial income growth within a short-term hold period.

Investor Summary: 405 N Charles Street represents a premier Daytona Beach commercial real estate asset with strong industrial fundamentals. Combining stable in-place income, near-term lease rollover, and an oversized lot to meet rising tenant demand, this property is an ideal acquisition for investors seeking a high-yield, value-add industrial asset in Florida at a highly competitive basis.