Turnkey Event Venue with Commercial
For Sale
Contact for pricing
1437n US-1, Ormond Beach, FL 32174
Turnkey banquet hall with event stage, audio-visual and projection screens, plus a fully equipped commercial kitchen and bar area.
Property Size2,732 SF
Price / SF$255.86
Days on Market145
Property Features for 1437n US-1
General Information
Standard status
Active
Size
2,732 SF
Class
A
Property subtype
Hospitality, Mixed Use, Retail
Zoning
MPUD
Additional Details
Business Included
Yes
Building Details
Year Built
2006
Year Renovated
2020
Listing Agency:
Corcoran
Listed By:
Sina Albekord · License #FL
(407) 749-6200
Source:
Crexi
Added: Apr 14
Changed: Aug 26
Last Checked: Aug 30 at 8:40PM
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 Corcoran
Investment Insights
Based on property information with market context.
This fully built-out event venue includes a spacious event area with a stage, integrated audio/visual setup, and projection screens. A dedicated bar area supports guest service, and the property also features a fully equipped commercial kitchen for catering operations. The sale includes an extensive inventory of furniture, fixtures, and equipment, and the unit is being sold fully furnished, including tables, chairs, buffet service equipment, décor elements, projectors, and a piano, among other items.
Additional interior improvements include two restrooms, a private office in the back, and a well-designed back-of-house with prep, refrigeration, and storage. Security and monitoring systems are already in place.
The venue’s layout supports both guest events and day-to-day operations, with established front-of-house and back-of-house spaces designed for efficient event hosting.
Additional interior improvements include two restrooms, a private office in the back, and a well-designed back-of-house with prep, refrigeration, and storage. Security and monitoring systems are already in place.
The venue’s layout supports both guest events and day-to-day operations, with established front-of-house and back-of-house spaces designed for efficient event hosting.
Key Highlights
- 2006‑built turnkey banquet hall ready for immediate operation
- Event space includes a stage, integrated audio/visual setup, and projection screens
- Fully equipped commercial kitchen plus a dedicated bar area for catering and events
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
$41,486
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
5.94%
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%
$829,720
$829.7K
Cap Rate 7%
$592,657
$592.7K
Cap Rate 9%
$460,956
$461.0K
Market Conditions
NOI Build-Up for 2,732 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
$60.0K $21.96/SF
− Vacancy
−$4.7K −$1.71/SF
EGI
$55.3K $20.25/SF
− OpEx
−$13.8K −$5.06/SF
NOI
$41.5K $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%
$829,720
Cap Rate 7%
$592,657
Cap Rate 9%
$460,956
Alternative Uses
Best Use
Specialty Retail
$592.7K
$518.6K – $691.4K
NOI $41,486 @ 7.0% cap · market cap 5.94%
Second Best
Industrial
$232.4K
$203.3K – $271.1K
NOI $16,265 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$805.5K
$704.9K – $939.8K
NOI $56,388 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
104k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 44%
RaceTrac
Shops & Services
37,835 visits/mo
0.3 miles
McDonald's
Dining
32,473 visits/mo
0.4 miles
Dunkin' Donuts
Dining
13,342 visits/mo
0.4 miles
Dollar General
Shops & Services
9,373 visits/mo
0.4 miles
Ormond Ace North
Shops & Services
5,027 visits/mo
0.2 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?
Wedding venue - Turnkey banquet hall with event stage, audio-visual and projection screens, plus a fully equipped commercial kitchen and bar area.
Where is this wedding venue located?
The property is located at 1437n US-1 Ormond Beach, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2006‑built turnkey banquet hall ready for immediate operation; Event space includes a stage, integrated audio/visual setup, and projection screens; Fully equipped commercial kitchen plus a dedicated bar area for catering and events
