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    501 N. Grandview Ave Daytona Beach, FL 32118

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    Sponsored
    Source: https://svn.com
    For Sale
    $2,950,000

    Value Add Opportunity (2.23 Acres) on the Daytona Beachside

    Property size:
    39,592 SF

    Property Features for 501 N. Grandview Ave

    General Information

    Property type
    Office buildings
    Investment Type
    value-add
    Square Feet
    39,592 SF
    Price / Square Foot
    $74
    Class
    B
    Elevators
    Yes
    Lot Size
    97,139 SF

    Building Details

    Year Built
    1968
    Buildings
    1
    Stories
    5

    Overview

    Daytona Beachside Redevelopment Opportunity

    This property presents a value-add opportunity on 2.23 acres located on the Daytona Beachside. The property is currently 22.5% occupied with space available. It offers an excellent opportunity for an office user to occupy a portion of the building and offset costs with rental income. Investors can add tenants and collect rent while waiting to redevelop the prime beachside land. The building features concrete block construction and includes 150 +/- parking spaces, which currently generate rental income. Recent capital expenditures include a $90,000 TPO roof and $80,000 in HVAC upgrades. The property is located in Daytona Beach, FL, near the beach and Daytona International Speedway. It offers convenient access to I-95 and major roadways, with nearby dining and retail options. The Daytona Beach International Airport is also within a short drive. Nearby attractions include the Daytona Lagoon, Daytona Beach Bandshell, the Ocean Convention Center, and several 4-star hotels, including the Daytona Grande Oceanfront Hotel and the Plaza Resort & Spa. In addition to office and retail, BR-2 zoning allows for redevelopment uses such as hotel, multi-family, medical office, and mixed-use multi-story buildings. The property is located in the heart of Daytona Beach with easy access to beachside shopping and hotels. Owner financing is available to qualified buyers.

    We can help!

    Listing Contact
    Michael Baxter

    Learn more

    Property Insight Report

    HighLights

    • In addition to office and retail, BR‑2 zoning has wide range of uses for redevelopment such as hotel, multi‑family, medical office, mixed‑use multi‑story and more. Located in the heart of the World's Most Famous Beach (Daytona Beach, FL) with easy access to beachside shopping and hotels. Nearby the Daytona Lagoon, Daytona Beach Bandshell, and the Ocean Convention Center, and several 4‑star hotels including the Daytona Grande Oceanfront Hotel and the Plaza Resort & Spa.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Securitas Security Services ... Security Service SCS Engineers Engineer Architechs for the Web, Inc. Marketing & Advertising Wickersham & Bowers Law Firm Auto Glass & Windshield ... Auto Repair Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office 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
    Daytona Beach
    State
    Florida
    Longitude
    -81.0097671
    Latitude
    29.2270172

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    FAQs

    What type of property is this?
    Office building - Value Add Opportunity (2.23 Acres) on the Daytona Beachside
    Where is this office building located?
    The property is located at 501 N. Grandview Ave Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: In addition to office and retail, BR-2 zoning has wide range of uses for redevelopment such as hotel, multi-family, medical office, mixed-use multi-story and more. Located in the heart of the World's Most Famous Beach (Daytona Beach, FL) with easy access to beachside shopping and hotels. Nearby the Daytona Lagoon, Daytona Beach Bandshell, and the Ocean Convention Center, and several 4-star hotels including the Daytona Grande Oceanfront Hotel and the Plaza Resort & Spa.
    (386) 999-1762
    Request Owner's contact information
    501 N. Grandview Ave Daytona Beach, FL 32118
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    Daytona Beach, FL 32118
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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
    501 N. Grandview Ave Daytona Beach, FL 32118
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    We can help!
    Listing Contact
    Michael Baxter
    (386) 999-1762
    Learn more
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