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 Market96
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) 230-2809
Listed By:
Joe Rossi · License #BK655420
(407) 230-2809
Source:
Moodyscre
Added: Apr 28
Changed: Jul 26
Last Checked: Jul 31 at 8:45AM
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $249.3k | $15.48 |
| − Vacancy | −$26.2k | −$1.63 |
| EGI | $223.1k | $13.85 |
| − OpEx | −$100.4k | −$6.23 |
| NOI | $122.7k | $7.62 |
16,102 SF · lease $15.48/SF/yr · vacancy 10.50% · expense 45.00%
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Well-served
Demand for This Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- Grand Villa of Ormond Beach — 535 N Nova Rd, Ormond Beach, FL 32174
- AdventHealth Hospice Care — 770 W Granada Blvd #304, Ormond Beach, FL 32174
- Ormond Manor Assisted Living Memory Care — 495 Sterthaus Dr, Ormond Beach, FL 32174
- AdventHealth Hospice Care East Florida Administrative Office — 770 W Granada Blvd Suite 304, Ormond Beach, FL 32174
- The Sarah House - Forest Court — 30 Forest Ct, 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
