212 S DAYTONA AVE

Four income streams, one block from the beach, directly across from the new Compass Hotel by Margaritaville.

This fully renovated four-unit mixed-use building sits on a rare double lot in the heart of downtown Flagler Beach -- zoned Mixed Use General Commercial, which permits short-term rentals, long-term rentals and commercial tenants. In a city where new short-term rental registrations are limited that entitlement is close to impossible to reproduce.

The two upper units are leased to long-term tenants on annual leases, producing income from day one. Both ground-floor units are delivered vacant, so you set the rents: one is a finished residential apartment, the other a true turnkey storefront with a full ADA bathroom, handicap parking space and ramp -- ready for a boutique, studio, cafe, gallery, bakery or office.

Every unit has been renovated within the last five years: new LVP flooring, new kitchen cabinets and countertops, updated bathrooms, new water heater and a new roof.

Outside is where this property separates itself. Five dedicated parking spaces plus side-street public parking. A fully fenced backyard with an oversized paver patio and fire pit -- an exceptional shared amenity for commercial tenants or a private retreat for guests. Rear alley access for deliveries and service. And the city has approved a secondary building on the lot, opening the door to additional units and materially higher revenue.

The location is doing the work for you. You are two blocks from the sand, steps from downtown's shops and restaurants, and next door to the rebuilt Flagler Beach Pier -- an $18 million replacement due to reopen and return foot traffic to the center of town.

Live in one and let the other three pay for it. Add a boutique short-term rental. Lease the storefront and build out the back lot. This is the flexibility a single-family beach house cannot offer, on the last kind of downtown lot Flagler Beach still has.