1740 Ocean Shr Blvd, Ormond Beach, FL 32176-3239
- Retail space
- 10,636 SF
- 0.47 lot acres
Current Use by Public Records
- Nutrition in Paradise / Weight Loss Service / Yoga Studio
- Citrus Surf Shop / (Bike/Boat/Book/etc) Store
- Distribution, Warehousing, Logistics & Fulfillment / Warehouse & Storage
Property Details for 1740 Ocean Shr Blvd
- Year built
- 1961
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.47 lot acres
- Zone code
- B4
- Property type
- Retail space
- APN
- 3241-06-00-0720
- APU
- 324106000720
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 14, 2024 | — | Ormond Ocean Mist LLC | — | Deed · related | $1.6M · Everence FCU |
| Sep 14, 2022 | $1,540,000 | Ormond Ocean Mist LLC | Stuart H Sackley | Warranty Deed | $1.2M · The Sackley Family Trust |
| Aug 4, 2015 | $710,000 | Sackley Family Trust | Roberts,osborne III | Warranty Deed | — |
| Sep 28, 2001 | $550,000 | Osborne Roberts | Eastern Coast Developers INC | Grant Deed | $350k · Coquina Bank |
| — | — | Osborne R Roberts III | — | Deed Of Trust · related | — |
Description
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,245,000
- ML approach
- $1,175,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,670,000
- 6.5%
- $1,540,000
- 7%
- $1,430,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,332,000
Market price range: $1.09M - $3.20M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,670,000 Current use
- MEDICAL BUILDING
- $1,905,000 Change: +14% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,905,000 Change: +14% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,590,000 Change: -5% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $1,380,000 Change: -17% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Ormond Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.0608
- Latitude
- 29.3363
- CBSA code
- 19660
- CBSA name
- DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
