Coastal Retreat Condo Near
For Sale
$219,900
1510 OCEAN SHORE Blvd 3150, Ormond Beach, FL 32176
Charming ground-floor condo near the beach with modern upgrades.
Property Size952 SF
Days on Market131
Property Features for 1510 OCEAN SHORE Blvd 3150
General Information
Standard status
Active
Size
952 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,979
Building Details
Building Size
952 SF
Year Built
1973
Stories
7
Listing Agency:
Adams, Cameron & Co., Realtors
(386) 453-8814
Listed By:
Debra Callahan · License #3493262
(386) 453-8814
Source:
Elliman
Added: Apr 24
Changed: Aug 13
Last Checked: Aug 30 at 9:24PM
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 Adams, Cameron & Co., Realtors
Investment Insights
Based on property information with market context.
This ground-floor end-unit condo offers a blend of comfort, convenience, and seaside tranquility. Located near beach access and Tom Renick Park, the location is suitable for beach activities such as fishing, biking, strolling, surfing, and sailing. The single-level living space is filled with natural light from additional windows. The condo features a remodeled kitchen and bathrooms with modern finishes. The kitchen showcases quartz countertops, and the open dining and living area is highlighted by a shiplap accent wall and quartz table top. Additional conveniences include an in-unit washer and dryer, a half bath, and a Ring security system. The utilities can be monitored remotely. The property is located near a no-car beach. The bike score is 49, indicating it is somewhat bikeable, and the walk score is 41, indicating car dependence.
Key Highlights
- Steps from beach access and Tom Renick Park on a no‑car beach.
- Newly remodeled kitchen and bathrooms with quartz countertops and modern finishes.
- Ground‑floor end‑unit condo with abundant natural light.
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
$7,254
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
3.30%
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%
$145,080
$145.1K
Cap Rate 7%
$103,629
$103.6K
Cap Rate 9%
$80,600
$80.6K
Market Conditions
NOI Build-Up for 952 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
$14.7K $15.48/SF
− Vacancy
−$1.5K −$1.63/SF
EGI
$13.2K $13.85/SF
− OpEx
−$5.9K −$6.23/SF
NOI
$7.3K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
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%
$145,080
Cap Rate 7%
$103,629
Cap Rate 9%
$80,600
Alternative Uses
Best Use
Apartment 5plus
$103.6K
$90.7K – $120.9K
NOI $7,254 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.7K
$245.6K – $327.5K
NOI $19,649 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
Explore this area
Business Placement
Demographics for 32176, FL
14,410
Population
10,329
Households
1.4
Avg Household Size
59
Median Age
38%
College-Educated
95%
High-School Grad
5.7 sq mi
ZIP Area
2,528
Density / Sq Mi
$72,248
Median Household Income
$39,529
Median Earnings
$1,436
Median Rent
$368,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Charming ground-floor condo near the beach with modern upgrades.
Where is this residential income property located?
The property is located at 1510 OCEAN SHORE Blvd 3150 Ormond Beach, FL.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Steps from beach access and Tom Renick Park on a no‑car beach.; Newly remodeled kitchen and bathrooms with quartz countertops and modern finishes.; Ground‑floor end‑unit condo with abundant natural light.
