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 Market382
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: Aug 27
Last Checked: Sep 5 at 2:16PM
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
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 = 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
$40,967
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
2.84%
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%
$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
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
$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 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%
$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.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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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
