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357 S Atlantic Avenue - Daytona Beach Resort Hotel/Condo Site, Daytona Beach, FL

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357 S Atlantic Avenue - Daytona Beach Resort Hotel/Condo Site

Daytona Beach, FL 32118 - Coastal Daytona Beach Submarket

Property Type:Land Parcel Size:6.03 Acres
Zoning:T 1, Tourist Accommodatio
For Sale Price:$15,500,000 Price/Acre:$2,570,481 Price/SF:$59.01

Proposed Use:Hospitality, Apartment Units - Condo, Hotel

On-Site Improv:-

505' Direct Ocean frontage
Site is closer to the Convention Center & Int'l Speedway Blvd than Hard Rock Daytona Site
6.04 gross AC, 3.63 net AC
New $650,000 Seawall - Installed.
The Largest Undeveloped Site on the Ocean in Daytona Beach
Adjacent Parcels also availbable - over 900' of total oceanfront available.

Sale Notes:
This is a prime opportunity to acquire what is arguably the best positioned development site on the Atlantic Ocean in the Daytona Beach area. With +/- 505 frontage feet on the Atlantic Ocean, this is the largest remaining development site in the core tourist area. The site is 6.03 gross acres, with 3.63 acres net usable(the property inside the seawall).

The T-1(tourist accommodations) zoning allows for 40 units per acre of residential units, and the hotel density is only limited by parking requirements. The City of Daytona Beach has no height restrictions (only trading increased side setbacks for additional height past a certain point.) Total density could be far greater than than the current zoning via a PRD/ PCD process. The site could support well over 600 hotel rooms.

The property was previously approved for a condo development, with full engineering and design plans completed. The scope of work on the civil engineering included the DEP permitting for the construction of a new seawall. The new seawall has been installed, thus expediting what is arguable the most arduous portion of the permitting process. Seawall construction cost was $650,000.
The core tourist area of Daytona Beach is roughly 4 miles long, with the Daytona Beach Ocean Center, a newly expanded 210,000 SF convention center, at the midpoint of that stretch. This site is 0.55 miles south of the convention center, and 0.3 miles closer than the Daytona Hard Rock Hotel under development.

The Daytona Beach area saw substantial new condo development during the last cycle at the southern end of the peninsula. This is a unique opportunity to control the largest vacant development site in Daytona Beach. A buyer will be positioned to deliver high quality convention hotel rooms as well as premium residential units to meet upcoming demand.

SVN Alliance Commercial Real Estate Advisors
Tim Davis

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