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    Property profile & analytics

    1740 Ocean Shr Blvd Ormond Beach, FL 32176-3239

    • Retail space
    • 10,636 SF
    • 0.47 lot acres
    OFF-MARKET
    Last Sale
    Sep 14, 2022
    $1,540,000
    Value Estimations
    $1,325,000
    Show details
    Cap Rate Potential
    8%
    Retail space
    Location Intelligence
    Property ID
    US18-6336310
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Nutrition in Paradise / Weight Loss Service / Yoga Studio
    • Citrus Surf Shop / Surf Shop / Bait Shop
    • Distribution, Warehousing, Logistics & Fulfillment / Warehouse

    Property Details for 1740 Ocean Shr Blvd

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.47 lot acres
    Property size
    10,636 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    3241-06-00-0720
    APU
    324106000720

    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

    based on Realmo’s proprietary methodology

    • 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 valuation — 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

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,417
    $147,538
    $741,255
    $888,793
    -
    $147,538
    $741,255
    $888,793

    Comparable in this City

    • Value Estimation by Request

      200 Granada Blvd

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    • Value Estimation
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      3,601 SF

      762 Atlantic Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,601 SF
      762 Atlantic Ave, Ormond Beach, FL 32176-7881
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    • Value Estimation
      $805,000
      4,488 SF

      1368 Ocean Shr Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,488 SF
      1368 Ocean Shr Blvd, Ormond Beach, FL 32176-3630
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    • Value Estimation
      $120,000
      380 SF

      226 Cardinal Dr

      RETAIL STORES (PERSONAL SERVICES) • 380 SF
      226 Cardinal Dr, Ormond Beach, FL 32176-7735
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    • Value Estimation
      $425,000
      20,885 SF

      1360 Ocean Shr Blvd

      RETAIL STORES (PERSONAL SERVICES) • 20,885 SF
      1360 Ocean Shr Blvd, Ormond Beach, FL 32176-3630
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    • Value Estimation
      $135,000
      4,018 SF

      198 Atlantic Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,018 SF
      198 Atlantic Ave, Ormond Beach, FL 32176-6667
      View Details

    Similar Nearby for Sale

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    • $3,800,000
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      Ormond Beach Commercial Oceanfront Property

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      Established Hardware Store Business Opportunity

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    • $1,199,000
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      Two-story building suitable for various commercial uses.
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    • $795,000
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      Ormond Beach Coastal Commercial Property

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    Similar Nearby for Lease

    • $2,072 /Mo
      32,040 SF

      Ormond Beach Retail Space Available

      High-visibility retail space in a thriving beachside plaza.
      1452 Ocean Shore Blvd, Ormond Beach, FL 32176
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    • $0.09 SF/Yr
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      Prime Ormond Beach Office Space

      Versatile Office Suites, 2,275-4,082 SF
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    • Contact for pricing
      10,174 SF

      Retail Space in Ormond Beach

      Retail space available in a busy Ormond Beach shopping center.
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    • $20 SF/Yr
      5,370 SF

      Prime Retail Space Available

      Retail spaces available in recently renovated Ellinor Village Shopping Center.
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      3,500 SF

      Retail Space on Granada Boulevard

      Retail space with high visibility and recent facade renovation.
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    • $2,187 /Mo
      1,232 SF

      Beachside Retail/Office Space Available

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      1452 Ocean Shore Blvd, Ormond Beach, FL 32176
      View Details
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    Ormond Beach, FL 32176-3239
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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