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Ormond Beach Oceanfront Vacant Lot

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$299,900.00 Make Offer Request ShowingSave Listing Ask Question

MLS #515933 Ormond Beach Oceanfront Vacant Lot Rare Oceanfront MF opportunity. Good upside potential for investors or builders. 1.39 acres of "no-drive" and "pet-friendly" ocean frontage on the west of A1A (deeded oceanfront). R-8 Multi-family density zoning permits 20 units per acre. Preliminary engineering shows 12 large town homes are possible with excellent heights of 45 feet. 2.5m land cost + 5m build out, hard and soft costs yields 7.5m cost; sales price of 1.5m per town home (I have sold 3 in Ponce for $2m) yields gross of 18m. Net profit of $10.5 million. At 999k sales price yields net of $4.5 million for quick sale of all town homes. 197' of ocean frontage and 319' of depth provide an excellent pad. Sewer can be provided by a Utility Corporation and Water, Electric and Phone are already on-site. County taxes, quiet area, drive-free and pet friendly beach with unobstructed panoramic views - 15 minutes from the heart of Daytona Beach events and activities – 25 mins to St. Augustine and 45 mins to Jacksonville. Bring your own team or use ours! Seller is licensed Realtor and can assist with all pre-sales necessary. Low interest financing available. Get Pre-Qualified

197X319 Ormond by the Sea Oceanfront Site - R-8 Zoning

Rare Oceanfront MF opportunity. Good upside potential for investors or builders. 1.39 acres of "no-drive" and "pet-friendly" oceanfrontage on the west of A1A (deeded oceanfront). R-8 Multi-family density zoning permits 20 units per acre. Preliminary engineering shows 12 large townhomes are possible with excellent heights of 45 feet. 2.5m land cost + 5m buildout, hard and soft costs yields 7.5m cost; sales price of 1.5m per town home (I have sold 3 in Ponce for $2m) yields gross of 18m. Net profit of $10.5 million. At 999k sales price yields net of $4.5 million for quick sale of all townhomes. 197' of oceanfrontage and 319' of depth provide an excellent pad. Sewer can be provided by a Utility Corporation and Water, Electric and Phone are already on-site. County taxes, quiet area, drive-free and pet friendly beach with unobstructed panoramic views - 15 minutes from the heart of Daytona Beach events and activities – 25 mins to St. Augustine and 45 mins to Jacksonville. Bring your own team or use ours! Seller is lincesed Realtor and can assist with all pre-sales necessary.

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You are inquiring about:	$299,900.00 Make Offer Request ShowingSave Listing Ask Question MLS #515933 Ormond Beach Oceanfront Vacant Lot Rare Oceanfront MF opportunity. Good upside potential for investors or builders. 1.39 acres of "no-drive" and "pet-friendly" ocean frontage on the west of A1A (deeded oceanfront). R-8 Multi-family density zoning permits 20 units per acre. Preliminary engineering shows 12 large town homes are possible with excellent heights of 45 feet. 2.5m land cost + 5m build out, hard and soft costs yields 7.5m cost; sales price of 1.5m per town home (I have sold 3 in Ponce for $2m) yields gross of 18m. Net profit of $10.5 million. At 999k sales price yields net of $4.5 million for quick sale of all town homes. 197' of ocean frontage and 319' of depth provide an excellent pad. Sewer can be provided by a Utility Corporation and Water, Electric and Phone are already on-site. County taxes, quiet area, drive-free and pet friendly beach with unobstructed panoramic views - 15 minutes from the heart of Daytona Beach events and activities – 25 mins to St. Augustine and 45 mins to Jacksonville. Bring your own team or use ours! Seller is licensed Realtor and can assist with all pre-sales necessary. Low interest financing available. Get Pre-Qualified
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