Brentwood & Nova Road

Coldwell Banker Commercial Realty is pleased to present an exceptional investment and development opportunity located on Brentwood Drive in Daytona Beach, FL 32117, a strategically positioned parcel zoned MFR-20, which allows for multifamily residential development and offers the discerning investor the flexibility to pursue a range of high-yield projects in one of Florida’s most dynamic growth markets. This well-situated property lies within the thriving Deltona/Daytona Beach corridor, just minutes from major transportation arteries such as N. Nova Road and I-95, ensuring convenient connectivity and long-term desirability for residents and investors alike. The current zoning supports the development of approximately 66 multifamily units, while an alternative option exists to continue the dialogue with the City of Daytona Beach regarding the previously contemplated site plan for 28 build-to-rent single-family homes—an increasingly popular strategy in today’s rental housing market—or to potentially seek higher density through the Live Local Act, thereby enhancing the property’s value and future cash flow potential. Market fundamentals support strong demand, with average asking rents in the Daytona Beach area currently at $1,500 per month, just below the metro average of $1,550, while individual unit averages are showing at $1,113 for studios, $1,329 for one-bedrooms, $1,557 for two-bedrooms, and $2,081 for three-bedrooms, with an average unit size of approximately 650 square feet. Projections further indicate that beginning in early 2026, the market will experience renewed rent growth momentum, with annual increases in the 2% to 3% range anticipated, adding further upside for forward-thinking developers. Beyond multifamily, the MFR-20 zoning permits a wide variety of uses by right, including household living, group living, day care, education, health care, open space, communication, utilities, other institutional categories, and even motor vehicle sales and service, thereby broadening the scope of development strategies for this site. The surrounding area’s fundamentals add further appeal, with a population growth forecast of 11.6%, a median household income of $41,380, and a location that is both central to Daytona Beach’s expanding residential base and in close proximity to employment, retail, and recreational amenities. Taken together, the property’s zoning flexibility, strong location, solid market fundamentals, and multiple development pathways make Brentwood Drive an outstanding opportunity for investors seeking to position themselves ahead of the next wave of growth in the Daytona Beach region.