1740 Ocean Shore BlvdOrmond Beach, FL 32176

Property Details for 1740 Ocean Shore Blvd

Year built

1961

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.47 AC

Property size (Sq ft)

10,636 SF

Zone code

B4

Property type

Retail properties

Property subtype

Retail space

APN

3241-06-00-0720

APU

324106000720

Description

This exceptional mixed-use property in Ormond Beach, Florida, presents a compelling investment opportunity. Located at 1740 Ocean Shore Blvd, this 10,636 square foot complex boasts a prime oceanfront location and features six ground-floor retail spaces currently occupied at 50% occupancy, including a surf shop, barber shop, dog groomer, and yoga studio, among others. Upstairs, six condo units (three one-bedroom, two two-bedroom, and one three-bedroom) are currently undergoing renovations, offering significant value-add potential for the new owner. The property sits on a 0.47-acre lot and is a two-story building constructed in 1961. The asking price is $1,900,000, representing a price per square foot of $178.64 and a pro-forma cap rate of 9.97%. The property benefits from a rare B-4 grandfathered zoning designation, allowing for versatile commercial uses. Ormond Beach's thriving tourism and robust economic growth provide a strong foundation for long-term investment success. The combination of established retail tenants, renovation potential in the residential units, and the desirable oceanfront location makes this a unique and attractive investment opportunity for those seeking a blend of commercial and residential income streams. The property offers a diverse unit mix catering to various living preferences and benefits from its proximity to amenities and services. This is a chance to capitalize on the area's desirability and strong rental demand.

• CAP approach

  CAP return

  Valuation

  6%

  $2,661,386

  6.5%

  $2,456,664

  7%

  $2,281,188

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,991,988

  Geo Method

  $2,991,988

• Alternative Use

  Use

  Valuation

  Residential

  $2,072,288

  Hospitality

  $1,898,204

  Educational

  $1,579,284

  Medical

  $1,633,598

  Retail

  $2,456,664

Location Insight

City

Ormond Beach

County

Volusia

State

Florida

Latitude

29.3363

Longitude

-81.0608

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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