Turnkey Meat Market
For Sale
$978,000
1035 N US Highway 1 St, Ormond Beach, FL 32174
Turnkey meat market with updated retail space, ample parking, and highly visible pylon signage at a lit intersection.
Property Size2,086 SF
Price / SF$468.84
Days on Market153
Property Features for 1035 N US Highway 1 St
General Information
Standard status
Active
Size
2,086 SF
Property subtype
Retail
Site & Location
Traffic Count
30,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Building Size
2,086 SF
Year Built
1980
Listing Agency:
Vaaler Commercial Real Estate
Listed By:
Rich Vaaler · License #0225198687
(703) 431-4513
Source:
Vaaler
Added: Apr 10
Changed: Sep 8
Last Checked: Sep 8 at 4:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vaaler Commercial Real Estate
Investment Insights
Based on property information with market context.
This turnkey meat market business sale includes updated retail space totaling 2,086 square feet, along with all equipment included in the purchase. Ray’s Quality Meats has been operating for nearly 50 years, and the seller will remain available to train a new owner for up to six months. Employees are reported to be interested in staying on board.
The building is located on busy North US Highway 1 in Ormond Beach, Florida, positioned on the east side of N US-1 at the Airport Road intersection. The site features a lit intersection and pylon signage designed to be highly visible from US-1 and Airport Road, with traffic volume reported at 30,500 vehicles per day.
Ample parking is available to support retail operations, and the property is presented as ready for an owner-operator to take over operations following the training period.
The building is located on busy North US Highway 1 in Ormond Beach, Florida, positioned on the east side of N US-1 at the Airport Road intersection. The site features a lit intersection and pylon signage designed to be highly visible from US-1 and Airport Road, with traffic volume reported at 30,500 vehicles per day.
Ample parking is available to support retail operations, and the property is presented as ready for an owner-operator to take over operations following the training period.
Key Highlights
- Ray's Quality Meats has been in business for nearly 50 years.
- Turnkey meat market with over $1,500,000 in annual gross sales and an owner‑operator model.
- Seller training available for up to 6 months; equipment included in the sale.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,677
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,540
$633.5K
Cap Rate 7%
$452,529
$452.5K
Cap Rate 9%
$351,967
$352.0K
Market Conditions
NOI Build-Up for 2,086 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.8K $21.96/SF
− Vacancy
−$3.6K −$1.71/SF
EGI
$42.2K $20.25/SF
− OpEx
−$10.6K −$5.06/SF
NOI
$31.7K $15.19/SF
Area
Volusia County, FL
Vacancy
7.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,540
Cap Rate 7%
$452,529
Cap Rate 9%
$351,967
Alternative Uses
Best Use
Specialty Retail
$452.5K
$396.0K – $528.0K
NOI $31,677 @ 7.0% cap · market cap 3.24%
Second Best
Retail
$280.7K
$245.6K – $327.5K
NOI $19,647 @ 7.0% cap · market cap 2.01%
Theoretical Best
Office A
$615.1K
$538.2K – $717.6K
NOI $43,055 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
30,500 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
11,992 visits/mo
0.1 miles
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey meat market with updated retail space, ample parking, and highly visible pylon signage at a lit intersection.
Where is this grocery and convenience store located?
The property is located at 1035 N US Highway 1 St Ormond Beach, FL.
What is the asking price?
The asking price for this property is $978,000.
What are key features of this property?
This property features: Ray's Quality Meats has been in business for nearly 50 years.; Turnkey meat market with over $1,500,000 in annual gross sales and an owner‑operator model.; Seller training available for up to 6 months; equipment included in the sale.
