Mixed-Use Plaza with Second-Level
For Sale
$1,445,000
5909 N Ocean Shore Blvd, Palm Coast, FL 32137
Mixed-use plaza with three street-level commercial suites and two residences above, plus elevator access to the second level.
Property Size2,850 SF
Price / SF$507.02
Days on Market433
Property Features for 5909 N Ocean Shore Blvd
General Information
Standard status
Active
Size
2,850 SF
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
elevator access
comprehensive fire and alarm monitoring system
underground stormwater
covered wrap-around porch
Listing Agency:
Superior Real Estate Services
Listed By:
Samuel Hale
(904) 315-4253
Source:
Exprealty
Added: Aug 20, 2025
Changed: Oct 26
Last Checked: Oct 24 at 8:30PM
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 Superior Real Estate Services
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Investment Insights
Based on property information with market context.
This mixed-use plaza includes three commercial spaces at street level and two residences located above. Two of the commercial spaces are currently occupied, and one space is available for immediate occupancy or tenant placement. The property is served by elevator access to the second level, and it includes a fire and alarm monitoring system and underground stormwater.
The second-floor apartment features four primary suites, each with an ensuite bathroom. It also includes a dual kitchen layout with a full kitchen at each end, which the unit configuration is designed to support as two independent two-bedroom setups. Residents can enjoy a completely covered wrap-around porch.
The plaza is located on N Ocean Shore Blvd and is described as offering frontage and access along the boulevard. The adjacent properties to the south are available for separate purchase, which the remarks indicate would add additional frontage on N Ocean Shore Blvd and expand the land for a combined total of 1.16 acres and 300 feet of frontage.
The second-floor apartment features four primary suites, each with an ensuite bathroom. It also includes a dual kitchen layout with a full kitchen at each end, which the unit configuration is designed to support as two independent two-bedroom setups. Residents can enjoy a completely covered wrap-around porch.
The plaza is located on N Ocean Shore Blvd and is described as offering frontage and access along the boulevard. The adjacent properties to the south are available for separate purchase, which the remarks indicate would add additional frontage on N Ocean Shore Blvd and expand the land for a combined total of 1.16 acres and 300 feet of frontage.
Key Highlights
- Mixed‑use plaza with three street‑level commercial suites and two residences above
- Two commercial spaces are currently occupied; one commercial space is ready for immediate occupancy or tenant placement
- Second‑level residences include elevator access and a fire and alarm monitoring system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,967
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,340
$819.3K
Cap Rate 7%
$585,243
$585.2K
Cap Rate 9%
$455,189
$455.2K
Market Conditions
NOI Build-Up for 2,850 SF
Gross rent
$63.3K $22.20/SF
− Vacancy
−$4.7K −$1.67/SF
EGI
$58.5K $20.54/SF
− OpEx
−$17.6K −$6.16/SF
NOI
$41.0K $14.37/SF
Area
Flagler County, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,340
Cap Rate 7%
$585,243
Cap Rate 9%
$455,189
Alternative Uses
Best Use
Retail
$585.2K
$512.1K – $682.8K
NOI $40,967 @ 7.0% cap · market cap 2.84%
Second Best
Mixed Use
$412.2K
$360.7K – $480.9K
NOI $28,856 @ 7.0% cap · market cap 2.00%
Theoretical Best
Office A
$684.9K
$599.3K – $799.0K
NOI $47,942 @ 7.0% cap · market cap 3.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
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Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use plaza with three street-level commercial suites and two residences above, plus elevator access to the second level.
Where is this mixed-use property located?
The property is located at 5909 N Ocean Shore Blvd Palm Coast, FL.
What is the asking price?
The asking price for this property is $1,445,000.
What are key features of this property?
This property features: Mixed‑use plaza with three street‑level commercial suites and two residences above; Two commercial spaces are currently occupied; one commercial space is ready for immediate occupancy or tenant placement; Second‑level residences include elevator access and a fire and alarm monitoring system
