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    135 Yonge St Ormond Beach, FL 32174

    Sponsored
    For Sale
    $1,700,000

    Prime 4.9-acre site, 64-unit apartment project.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 4.9-acre parcel in Ormond Beach, Florida, presents a fully approved opportunity to develop a 64-unit multifamily community. Located at 135 N Yonge St (US Hwy 1), this PRD-zoned property (APN 4215-04-01-0270) boasts a prime location within walking distance of Ormond Beach's vibrant downtown area, offering easy access to a variety of restaurants, shops, and services. The Atlantic Ocean is a mere 1.5 miles away, adding to the desirability of this location. The approved plans encompass eight two-story buildings, featuring a mix of 32 two-bedroom units (940 square feet each) and 32 three-bedroom units (1,177 square feet each). All necessary site plan approvals are complete, allowing for immediate commencement of construction. This project addresses the significant demand for quality rental housing in this thriving area, presenting a unique opportunity for rapid development and strong returns. The asking price for this exceptional investment is $1,700,000. This is a turnkey opportunity to capitalize on the high demand for rental housing in a desirable location.

    Property Features for 135 Yonge St

    General Information

    Property type
    Land
    Lot Size
    213,444 SF

    HighLights

    • Fully approved multifamily development site in Ormond Beach, FL.
    • 64‑unit apartment community comprised of eight two‑story buildings.
    • Unit mix includes 32 two‑bedroom and 32 three‑bedroom apartments.
    • Prime location within walking distance of Ormond Beach's downtown, Intracoastal Waterway, and the Atlantic Ocean.
    • High demand for rental housing in this desirable area.
    • Exceptional opportunity for rapid development of an approved apartment project.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.063429
    Latitude
    29.2862725

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    FAQs

    What type of property is this?
    Land - Prime 4.9-acre site, 64-unit apartment project.
    Where is this land located?
    The property is located at 135 Yonge St Ormond Beach, FL.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: Fully approved multifamily development site in Ormond Beach, FL.; 64-unit apartment community comprised of eight two-story buildings.; Unit mix includes 32 two-bedroom and 32 three-bedroom apartments.
    (386) 453-4789
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    135 Yonge St Ormond Beach, FL 32174
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    Ormond Beach, FL 32174
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    135 Yonge St Ormond Beach, FL 32174
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