Warehouse Property with Two
For Sale
$5,950,000
4 & 6 Aviator Way, Ormond Beach, FL 32174
For sale warehouse property in Volusia County offered as two sites at 4 and 6 Aviator Way.
Property Size22,500 SF
Days on Market94
Property Features for 4 & 6 Aviator Way
General Information
Standard status
Active
Size
22,500 SF
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$13,944
Amenities
Lobby, Office, Overhead Crane, Overhead Doors, Private Restroom, Public Restroom, Rear Access, Reception Area, Showroom, Storage
Other
Parking Lot
Building Details
Building Size
22,500 SF
Year Built
1991
Stories
1
Listing Agency:
Realty Pros Assured
(386) 295-0257
Listed By:
Sheriff Guindi · License #0404567
(386) 295-0257
Source:
Evrealestate
Added: May 12
Changed: Aug 8
Last Checked: Jul 16 at 6:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Pros Assured
Investment Insights
Based on property information with market context.
The property consists of warehouse space offered across two addresses, 4 and 6 Aviator Way. It is presented as a combined opportunity for industrial and warehousing users who need flexible site control within the same immediate property offering. Specific building sizes, interior layouts, and condition details were not provided, so prospective buyers should confirm all facility characteristics during due diligence.
Access is provided via Airport Road and nearby road connections described as: from US1 and Airport Road, west on Airport Road, right onto Sunshine Blvd, right onto Signal Ave, then left onto Aviator Way. The property is located in Volusia County, Florida.
This offering is best suited for buyers seeking warehouse real estate in an industrial-oriented configuration where two adjacent addresses may support operational flexibility, phased utilization, or separate vehicle and storage needs. As with any commercial purchase, confirm zoning and permitted uses, as well as the exact warehouse features required for the intended distribution or storage operation, including any loading, clearance, and utility capacity at the time of inspection.
Access is provided via Airport Road and nearby road connections described as: from US1 and Airport Road, west on Airport Road, right onto Sunshine Blvd, right onto Signal Ave, then left onto Aviator Way. The property is located in Volusia County, Florida.
This offering is best suited for buyers seeking warehouse real estate in an industrial-oriented configuration where two adjacent addresses may support operational flexibility, phased utilization, or separate vehicle and storage needs. As with any commercial purchase, confirm zoning and permitted uses, as well as the exact warehouse features required for the intended distribution or storage operation, including any loading, clearance, and utility capacity at the time of inspection.
Key Highlights
- Warehouse property for sale in Volusia County offered as two sites at 4 and 6 Aviator Way
- Parking lot
- Year built: 1991
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$180,961
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,619,220
$3.6M
Cap Rate 7%
$2,585,157
$2.6M
Cap Rate 9%
$2,010,678
$2.0M
Market Conditions
NOI Build-Up for 22,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$224.1K $9.96/SF
− Vacancy
−$11.2K −$0.50/SF
EGI
$212.9K $9.46/SF
− OpEx
−$31.9K −$1.42/SF
NOI
$181.0K $8.04/SF
Area
Volusia County, FL
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,619,220
Cap Rate 7%
$2,585,157
Cap Rate 9%
$2,010,678
Alternative Uses
Best Use
Warehouse
$2.59M
$2.26M – $3.02M
NOI $180,961 @ 7.0% cap · market cap 3.04%
Second Best
Industrial
$1.91M
$1.67M – $2.23M
NOI $133,954 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$6.63M
$5.81M – $7.74M
NOI $464,400 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - For sale warehouse property in Volusia County offered as two sites at 4 and 6 Aviator Way.
Where is this warehouse located?
The property is located at 4 & 6 Aviator Way Ormond Beach, FL.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Warehouse property for sale in Volusia County offered as two sites at 4 and 6 Aviator Way; Parking lot; Year built: 1991
