1740 Ocean Shr Blvd Ormond Beach, FL 32176-3239

This exceptional mixed-use property in Ormond Beach, Florida, presents a compelling investment opportunity. Located at 1740 Ocean Shore Blvd, this 10,636 square foot complex boasts a prime oceanfront location and features six ground-floor retail spaces currently occupied at 50% occupancy, including a surf shop, barber shop, dog groomer, and yoga studio, among others. Upstairs, six condo units (three one-bedroom, two two-bedroom, and one three-bedroom) are currently undergoing renovations, offering significant value-add potential for the new owner. The property sits on a 0.47-acre lot and is a two-story building constructed in 1961. The asking price is $1,900,000, representing a price per square foot of $178.64 and a pro-forma cap rate of 9.97%. The property benefits from a rare B-4 grandfathered zoning designation, allowing for versatile commercial uses. Ormond Beach's thriving tourism and robust economic growth provide a strong foundation for long-term investment success. The combination of established retail tenants, renovation potential in the residential units, and the desirable oceanfront location makes this a unique and attractive investment opportunity for those seeking a blend of commercial and residential income streams. The property offers a diverse unit mix catering to various living preferences and benefits from its proximity to amenities and services. This is a chance to capitalize on the area's desirability and strong rental demand.