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    1018 Cutters Way South Daytona, FL 32119

    View on Map
    For Sale
    $799,000

    COMMERCIAL - South Daytona, FL

    Property size:
    4,926 SF
    Lot size:
    0.23 Acres
    Added:
    Aug 20, 2024
    Days on Market:
    590
    Last Refresh:
    Apr 1 at 3:06 am

    Property Features for 1018 Cutters Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4
    Parking features
    Off Street, Covered, Secured, Gated, RV, Carport, Parking Lot, Garage
    Security features
    Security Lighting
    Fencing
    Chain Link, Privacy
    Standard status
    Active
    APN
    5344-16-00-1385
    Size
    4,926 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    N 146.77 FT OF S 482.77 FT OF W 70 FT OF E 268.75 FT MEAS ON S/L W OF NOVA RD OF LOTS 138 & 139 BLAKE MB 1 PG 38 PER OR 5112 PG 2729 PER OR 7184 PG 4798 PER OR 8302 PG 0719 PER OR 8302 PG 0723 PER OR 8302 PG 0727 PER OR 8302 PG 0731 PER OR 8302 PG 0735
    TaxAnnualAmount
    5468

    Utilities

    Utilities
    Cable Available
    Heating system
    Heat Pump (Heating), Varies by Unit (Heating)
    Cooling system
    Multi Units, Ductless, Electric, Varies by Unit, Separate Meters, Central Air, Heat Pump, Attic Fan
    Water source
    Public

    Building Details

    Year built
    1977
    Floors in Building
    2
    Number of units
    16
    Flooring type
    Concrete, Laminate, Tile
    Building materials
    Block, Steel Siding
    Roof type
    Metal, Rolled Hot Mop

    We can help!

    Listing Contact
    Ray Joy

    Listing agent Ray Joy

    Listing office Ray Joy Realty LLC 809 Hensel Hill Rd. W, Port Orange, FL

    Listing date Aug 20, 2024

    MLS# 1202930

    Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Remodeled Storage Facility with Apartments

    This South Daytona property features a storage facility with 16 units, accompanied by two apartments—one efficiency and one three-bedroom unit. The property has been fully remodeled, incorporating granite countertops, new appliances, new air conditioning, and new water heaters. It also features a metal roof and newly renovated bathrooms. Additionally, there is a cabinet making shop on the premises with a permanent tenant. The property is zoned BHC Business Heavy Commercial. At full capacity, the property generates an income of $7650+ per month. The storage units are 95% occupied and have a waiting list. The property size is 4926 square feet and it sits on a 0.23-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Daytona
    County
    Volusia
    State
    Florida
    Longitude
    -81.0285
    Latitude
    29.1477

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    FAQs

    What type of property is this?
    Self storage facility - South Daytona storage facility with apartments and cabinet shop.
    Where is this self storage facility located?
    The property is located at 1018 Cutters Way South Daytona, FL.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: High occupancy rate (95%) with a waiting list, indicating strong demand.; Turnkey operation with owner financing available.; Significant monthly income potential ($7650+ at full capacity).
    (386) 401-1000
    We can help!
    Listing Contact
    Ray Joy
    Learn More
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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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