Assisted Living Facility with Two
For Sale
Contact for pricing
515 Tomoka Ave, Ormond Beach, FL 32174
Vacant assisted living facility offered as two buildings totaling 16,102± SF on 3.07 acres.
Property Size16,102 SF
Lot Size3.07 Acres
Price / SF$183.21
Days on Market188
Property Features for 515 Tomoka Ave
General Information
Standard status
Active
Size
16,102 SF
Lot size
3.07 Acres
Property subtype
OFFICE
Listing Agency:
Colliers | Orlando
(407) 843-1723
Listed By:
Joe Rossi · License #FL BK655420
(407) 230-2809
Source:
Moodyscre
Added: Apr 28
Changed: Oct 26
Last Checked: Oct 30 at 3:00PM
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 Colliers | Orlando
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This assisted living facility is offered as two buildings totaling 16,102± square feet on 3.07 acres. The property is vacant and described as a fully operational assisted living facility, with recent capital projects and high-quality renovations noted in the materials.
The facility is positioned within a healthcare corridor in Ormond Beach, supporting continuity for healthcare-related use.
The seller highlights strong building condition and ongoing improvements through recent renovation work, which may help reduce near-term capital needs for an owner looking to continue the assisted living use.
The facility is positioned within a healthcare corridor in Ormond Beach, supporting continuity for healthcare-related use.
The seller highlights strong building condition and ongoing improvements through recent renovation work, which may help reduce near-term capital needs for an owner looking to continue the assisted living use.
Key Highlights
- Vacant assisted living facility consisting of two buildings totaling 16,102± SF
- 3.07 acres with an assisted living facility configuration across two buildings
- Outstanding building condition with many recent capital projects
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,698
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,453,960
$2.5M
Cap Rate 7%
$1,752,829
$1.8M
Cap Rate 9%
$1,363,311
$1.4M
Market Conditions
NOI Build-Up for 16,102 SF
Gross rent
$249.3K $15.48/SF
− Vacancy
−$26.2K −$1.63/SF
EGI
$223.1K $13.85/SF
− OpEx
−$100.4K −$6.23/SF
NOI
$122.7K $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 Rate 5%
$2,453,960
Cap Rate 7%
$1,752,829
Cap Rate 9%
$1,363,311
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,698 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.15M – $5.54M
NOI $332,345 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Well-served
Demand for This Use
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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
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Similar Off Market Nearby
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- AdventHealth Hospice Care East Florida Administrative Office — 770 W Granada Blvd Suite 304, Ormond Beach, FL 32174
- Ormond Manor Assisted Living Memory Care — 495 Sterthaus Dr, Ormond Beach, FL 32174
- Grand Villa of Ormond Beach — 535 N Nova Rd, Ormond Beach, FL 32174
Frequently Asked Questions
What type of property is this?
Assisted living facility - Vacant assisted living facility offered as two buildings totaling 16,102± SF on 3.07 acres.
Where is this assisted living facility located?
The property is located at 515 Tomoka Ave Ormond Beach, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Vacant assisted living facility consisting of two buildings totaling 16,102± SF; 3.07 acres with an assisted living facility configuration across two buildings; Outstanding building condition with many recent capital projects
