Three-Building Mixed-Use
New
For Sale
$495,000
190-206 S Yonge St Ormond, Ormond Beach, FL 32174
B-4 zoning supports office, retail, and restaurant uses across a multi-parcel commercial property.
Property Size2,216 SF
Lot Size0.40 Acres
Price / SF$223.38
Days on Market3
Property Features for 190-206 S Yonge St Ormond
General Information
Standard status
Active
Size
2,216 SF
Class
C
Lot size
0.40 Acres
Property subtype
Multi Tenant Office
Zoning
B-4
Site & Location
Corner Location
Yes
Traffic Count
21,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Building Details
Building Size
2,216 SF
Year Built
1900
Buildings
3
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
SVN | Alliance Commercial Real Estate Advisors
(386) 310-7900
Listed By:
Carl Lentz · License #3068067
(386) 310-7900
Source:
Thebrokerlist
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 2:24AM
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 SVN | Alliance Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This mixed-use property includes four parcels totaling 0.40 acres, with three buildings containing 2,216 SF of combined building area. The site includes office, residential, and office/retail configurations, including a 190–976 SF leased office/residential unit, a 196–576 SF owner-occupied office/retail space, and an 206–832 SF office/retail building requiring significant work or demolition. The buildings date to 1900.
Located on South Yonge Street in Ormond Beach, the property has 220 feet of frontage at the corner of Willow Place and Palm Place. It sits south of W Granada Boulevard (SR 40), between Willow Place and Palm Place, with reported traffic of 21,500 VPD. B-4 zoning in the City of Ormond Beach allows office, retail, and restaurant uses.
Located on South Yonge Street in Ormond Beach, the property has 220 feet of frontage at the corner of Willow Place and Palm Place. It sits south of W Granada Boulevard (SR 40), between Willow Place and Palm Place, with reported traffic of 21,500 VPD. B-4 zoning in the City of Ormond Beach allows office, retail, and restaurant uses.
Key Highlights
- Four parcels totaling 0.40 acres with 3 buildings
- 2,216 total building SF across the assemblage
- 220' of frontage at Willow Pl and Palm Place
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
$33,207
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
6.71%
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%
$664,140
$664.1K
Cap Rate 7%
$474,386
$474.4K
Cap Rate 9%
$368,967
$369.0K
Market Conditions
NOI Build-Up for 2,216 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
$47.9K $21.60/SF
− Vacancy
−$3.6K −$1.62/SF
EGI
$44.3K $19.98/SF
− OpEx
−$11.1K −$5.00/SF
NOI
$33.2K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /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%
$664,140
Cap Rate 7%
$474,386
Cap Rate 9%
$368,967
Alternative Uses
Best Use
Office B
$474.4K
$415.1K – $553.5K
NOI $33,207 @ 7.0% cap · market cap 6.71%
Second Best
Mixed Use
$391.0K
$342.2K – $456.2K
NOI $27,373 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$653.4K
$571.7K – $762.3K
NOI $45,738 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
21,500 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B-4 zoning supports office, retail, and restaurant uses across a multi-parcel commercial property.
Where is this mixed-use property located?
The property is located at 190-206 S Yonge St Ormond Ormond Beach, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Four parcels totaling 0.40 acres with 3 buildings; 2,216 total building SF across the assemblage; 220' of frontage at Willow Pl and Palm Place
