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246 WILLOW PLACE
About This Property
Unique commercial opportunity in Ormond Beach! This nonconforming single family property has been rezoned for commercial use, offering the flexibility to use it as either a single family residence or for an approved commercial use. If the existing structure is destroyed, future redevelopment would be commercial only. With continued growth in the area, this property offers exciting potential for a small business, work from home setup, owner occupant, or investor.
Also available for rent, with residential or commercial lease options.
Inside, this beautifully updated 2-bedroom, 2-bath property includes luxury vinyl plank flooring throughout, a fully updated kitchen with stainless steel appliances and modern cabinetry, and two remodeled bathrooms. Additional updates include a brand new paver driveway, 2026 roof, new HVAC, and newer hot water heater.
The light and bright interior offers an open flow, while the spacious backyard provides room to relax, garden, or entertain. Located approximately 10 to 15 minutes from the beach and close to dining, shopping, parks, and more.
Seller will consider closing cost assistance or a rate buy down with a suitable offer. With residential usability, commercial zoning, and future redevelopment potential, there are many possibilities here. Schedule a private tour today!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 25, 2026 | Relisted | $199,700 | |
| Relisted | |||
| Jul 31, 2026 | In contract | - | |
| In contract | |||
| Jul 18, 2026 | Price Decreased |
$199,700
↓ $10K
(4.9%) | |
| Price Decreased | |||
| Jul 3, 2026 | Price Decreased |
$209,900
↓ $7K
(3.1%) | |
| Price Decreased | |||
| Jun 17, 2026 | Price Decreased |
$216,500
↓ $3K
(1.1%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017