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    720 Granada Blvd Ormond Beach, FL 32174

    For Sale
    $3,300,000

    6.85 Acres, Prime Location, High Traffic

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 6.85-acre commercial land parcel in Ormond Beach, Florida, presents a remarkable investment opportunity. Located at 720 W Granada Blvd (State Highway 40), this high-visibility site boasts convenient access to the Atlantic coast (3 miles), I-95, and US Hwy 1. The property is zoned B-9 and features a prime location on a major thoroughfare with high traffic volume, offering excellent visibility and accessibility. Included in the sale are two conceptual site plans: one for a 148-unit assisted living facility and another for a 214-unit Class A multifamily apartment complex, both designed by Humphreys and Partners Architects. The multifamily plan, a 158,347 square foot, four-story wrap building with a five-story garage, achieves a density of 31.2 units per acre. The site has a history of approvals, with building permits previously issued for an assisted living facility, and the plans were updated in 2022. The property's proximity to numerous amenities, including restaurants, shopping centers, and healthcare facilities, further enhances its appeal. This strategic location within Ormond Beach, an area experiencing significant commercial development, makes this a truly exceptional opportunity for developers seeking a high-impact project. The APN is 4241-04-01-0010. The asking price is $3,300,000. Civil engineering for the project was provided by Alann Engineering. The project is designed to be compatible with HUD 221(d)(4) financing.

    Property Features for 720 Granada Blvd

    General Information

    Property type
    Land
    Lot Size
    298,386 SF

    HighLights

    • Prime Ormond Beach location, near I‑95 and US Hwy 1, benefits from surrounding commercial development.
    • High‑visibility site on West Granada Blvd, offering excellent access via a bridge over the Intracoastal Waterway.
    • Previously approved and permitted for Assisted Living, with 2022 plan updates reflecting post‑COVID market demands.
    • HUD 221(d)(4) financing enabled a shift to a high‑quality, 214‑unit multifamily project.
    • Class A, 4‑story wrap‑around multifamily building with a 5‑story garage, totaling 158,347 square feet, designed by Humphreys & Partners Architects and Alann Engineering, achieving a density of 31.2 units per acre.
    Property Profile Insight Report 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
    -81.076429
    Latitude
    29.278035

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    FAQs

    What type of property is this?
    Land - 6.85 Acres, Prime Location, High Traffic
    Where is this land located?
    The property is located at 720 Granada Blvd Ormond Beach, FL.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: Prime Ormond Beach location, near I-95 and US Hwy 1, benefits from surrounding commercial development.; High-visibility site on West Granada Blvd, offering excellent access via a bridge over the Intracoastal Waterway.; Previously approved and permitted for Assisted Living, with 2022 plan updates reflecting post-COVID market demands.
    (607) 745-0364
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    720 Granada Blvd 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
    720 Granada Blvd Ormond Beach, FL 32174
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