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    500 W Granada Boulevard unit 3 Ormond Beach, FL 32174

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    COMMERCIAL - Ormond Beach, FL

    Type:Retail
    Property size:
    9,259 SF
    Lot size:
    2.05 Acres
    Price / SF:
    $3/SF
    Added:
    Jul 28, 2025
    Days on Market:
    268
    Last Refresh:
    Apr 21 at 12:06 pm

    Property Features for 500 W Granada Boulevard unit 3

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    4241-01-13-0072
    Size
    9,259 SF
    Lot size
    2.05 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    S 25 FT LOT E EXC E 305 FT & S 25 FT LOT F EAST OF CANAL SUB GRANT LOT 6 1/2 & N 159 FT LOT F EXC E 350 FT & LOTS G & J EAST OF CANAL SUB GRANT LOT 6 & N 50 FT OF W 134 FT LOT E & N 50 FT LOT F EAST OF CANAL SUB GRANT LOT 5 ASSRS ORMOND MB 2 PG 118 PER OR
    Tax Annual Amount
    10666

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2006
    Number of units
    1
    Flooring type
    Tile

    We can help!

    Listing Contact
    Steven O'Neill

    Listing agent Steven O'Neill License #3439987

    Listing office Faustina Trump Real Estate LLC 510 Oakridge Blvd Suite 100, Daytona Beach, FL

    Listing date Jul 28, 2025

    MLS# 1216130

    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

    Ormond Beach Hair Salon

    An established hair salon in Ormond Beach, Florida, operational for over 30 years, is available for sale as a business with assets, including furniture, fixtures, and equipment, as well as the business name. The existing lease is transferable upon landlord approval, with over two years remaining. The current lease terms are $3,000 per month, covering rent, insurance, taxes, utilities, and maintenance under a NNN structure. The salon features eight hair stations with rental options, three wash stations, a separate massage room with equipment, a guest lobby, a restroom, a shower, and an employee breakroom equipped with appliances.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cryo & Infra Shape Gym & Fitness Center WOW Pharmacy Ormond ... Pharmacy Amor Nail Lounge Nail Salon La Catrina Cocina ... Restaurant Phoenix Powersports LLC Auto Parts Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.069844
    Latitude
    29.279568

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    FAQs

    What type of property is this?
    Retail space - Established hair salon with transferable lease in Ormond Beach, FL.
    Where is this retail space located?
    The property is located at 500 W Granada Boulevard unit 3 Ormond Beach, FL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Established hair salon business (30+ years) with transferable lease (subject to Landlord approval).; Includes all business assets, FF&E (furniture, fixtures, and equipment), and name.; Eight hair stations with rental income potential.
    (386) 341-6969
    We can help!
    Listing Contact
    Steven O'Neill
    Real Estate License ID: 3439987
    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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