42 S Peninsula Drive, Daytona Beach, FL 32118

Property Description

Exceptional Beachside Investment & Development Assemblage Strategically located in the heart of the Daytona Beachside market, 42 S. Peninsula offers a premier opportunity for investors and developers alike. This historic property, built in 1920, combines the charm of a well-maintained professional building with the high-yield stability of an established tenancy. Situated on a prominent corner, the site features rare triple-street frontage on Peninsula Drive, Halifax Avenue, and the side street, Harvey Avenue, ensuring maximum visibility and ease of access. The Opportunity The centerpiece of this offering is a 5,588 SF professional office building that has served as a cornerstone accounting firm for decades. The property is currently leased to a professional tenant, providing immediate operating income with built-in escalation clauses to hedge against inflation and ensure a strong, growing cap rate. Beyond the existing income, this sale includes three neighboring vacant parcels, creating a significant footprint for future expansion or total site redevelopment. Whether you are looking for a high-performing professional asset or a strategic long-term development play, this assemblage offers a unique "buy and hold" scenario with massive upside potential. Versatile RP Zoning The property is zoned RP (Residential/Professional) , a flexible designation by the City of Daytona Beach designed to bridge the gap between high-end residential and professional business uses. This zoning opens the door to a wide variety of permitted uses, allowing the property to adapt to the market’s highest and best use over time. Permitted Uses (per CODB Land Development Code): Office Uses: Professional services offices, business services, contractor’s offices, and other office facilities. Household Living: Single-family detached dwellings, duplexes, multifamily dwellings, and multifamily complexes. Group Living: Assisted living facilities, community residential homes, and hospice residential facilities. Education & Day Care: Adult day care centers, child care facilities , public/private schools, and colleges or universities. Health Care: Nursing home facilities. Institutional: Places of worship, clubs or lodges (not operated as bars/nightclubs), and shelters for victims of domestic abuse. Open Space: Community gardens, parks, or greenways. Future Development Potential Special Use, the property may also be eligible for townhouse subdivisions, duplex subdivisions, fraternity/sorority houses, or community centers. The location is ideal for professionals seeking a spacious, comfortable office in a central market, or for developers looking to capitalize on the demand for beachside residential or medical facilities. Ample onsite parking is already in place to support current and future operations.