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    1 Aviator Way Ormond Beach, FL 32174-2982
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    Property profile & analytics

    1 Aviator Way, Ormond Beach, FL 32174-2982

    View on Map
    • Manufacturing properties
    • 18,288 SF
    • 5.44 lot acres
    Off-Market
    Property ID
    US18-3875796
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ABB / Industrial Manufacturer / Production Facility

    Property Details for 1 Aviator Way

    Year built
    1988
    Construction
    WOOD
    Lot size
    5.44 lot acres
    Property type
    Manufacturing properties
    APN
    4218-01-00-0210
    APU
    421801000210

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 1, 2020 — City Of Ormond Beach Abb Installation Products INC Warranty Deed —
    Jan 11, 2006 — Southland Realty Co LLC Homac Mfg Warranty Deed · related —
    Jan 1, 2006 — Southland Rlty Co LLC Owner,record Warranty Deed · related —
    — — Southland Realty Co LLC — Deed Of Trust · related $2.3M · Wachovia Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,815,000
      6.5%
      $1,675,000
      7%
      $1,555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,355,000
      Market price range: $363k - $1.56M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,370,000
      Current use
      WAREHOUSE, STORAGE
      $2,245,000
      Change: -5% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.1155
    Latitude
    29.2927
    CBSA code
    19660
    CBSA name
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $37,325
    $373,321
    $1,920,516
    $2,293,837
    -
    $373,321
    $1,920,516
    $2,293,837

    Comparable in this City

    • Value Estimation
      $605,000
      12,960 SF

      1065 Us Hwy 1st 1

      MANUFACTURING (LIGHT)
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      View Details
    • Value Estimation
      $655,000
      12,210 SF

      6 Tower Cir, Unit 101

      MANUFACTURING (LIGHT)
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    • Value Estimation by Request
      1,500 SF

      280 Walnut St

      MANUFACTURING (LIGHT)
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    • Value Estimation
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      40 Holly St

      MANUFACTURING (LIGHT)
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    • Value Estimation
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      12,800 SF

      8 Aviator Way

      MANUFACTURING (LIGHT)
      8 Aviator Way, Ormond Beach, FL 32174-2983
      View Details
    • Value Estimation
      $1,020,000
      5,590 SF

      1385 Us Hwy 1st 1

      MANUFACTURING (LIGHT)
      1385 Us Hwy 1st 1, Ormond Beach, FL 32174-8702
      View Details

    Similar Nearby for Sale

    • $5,950,000
      22,500 SF

      Ormond Beach Warehouses with Business

      Two warehouses with established business, equipment, and ongoing projects.
      4 Aviator Way, Ormond Beach, FL 32174
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    • $1,190,000
      3,600 SF

      Ormond Beach US1 Commercial Property

      Versatile industrial property on US1 in Ormond Beach, Florida.
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      Turn-Key Industrial Compound For Sale

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    • Contact for pricing

      Destination Daytona Flex Space

      10,080 SF flex space in Destination Daytona.
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    • $599,000
      Pending

      Ormond Beach Warehouse with Parking

      Open warehouse with secured parking and high ceilings.
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    • $249,900
      1.68 Acres

      Ormond Beach Development Site

      1.68-acre site suitable for office, warehouse, or self-storage.
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    Similar Nearby for Lease

    • $40,013
      69,231 SF

      Ormond Beach Industrial/Manufacturing Space

      46,845 SF industrial space in Ormond Beach, available now.
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    • $14 SF/Yr
      15,882 SF

      Ormond Beach Industrial Warehouse

      Spacious warehouse, prime location, sublease.
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    • $13 SF/Yr

      Ormond Beach Flex Space Available

      1,250 SF flex space for lease in Ormond Beach.
      1290 Hand Ave, Ormond Beach, FL 32174
      View Details
    • $13 SF/Yr

      Ormond Beach Flex Space Available

      Flex space available for lease in Ormond Beach, Florida.
      1240 Hand Ave, Ormond Beach, FL 32174
      View Details
    • Contact for pricing

      Warehouse Bays For Lease

      1,000 square foot warehouse bays available for lease.
      300 S Yonge St, Ormond Beach, FL 32174
      View Details
    • Contact for pricing
      5,000 SF

      Ormond Beach Flex Space

      5,000 SF flex space available for rent.
      1250 Hand Ave, Ormond Beach, FL 32174
      View Details
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    Ormond Beach, FL 32174-2982
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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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