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    Property profile & analytics

    1018 Cutters Way Daytona Beach, FL 32119

    • Warehouses
    • 4,200 SF
    • 0.23 lot acres
    For Sale
    View listing
    $799,000
    Last Sale
    Aug 23, 2022
    Value Estimations
    Cap Rate Potential
    9.3%
    Warehouses
    Location Intelligence
    Property ID
    US18-4817105
    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.

    Current Use by Public Records

    • Glass Act / Window Cleaning Service

    Property Details for 1018 Cutters Way

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.23 lot acres
    Property size
    4,200 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    5344-16-00-1385
    APU
    534416001385

    Description

    This exceptional South Daytona, Florida investment opportunity presents a unique blend of commercial and residential income streams. Located at 1018 Cutters Way, 32119, this multi-use property encompasses 4,926 square feet on a 10,201.75 square foot lot, with a total of 8,000 net rentable square feet. The property features three buildings, two stories high, and was built in 1977, undergoing a complete renovation in 2024. Improvements include a new metal roof, new appliances, granite countertops, updated bathrooms (both interior and exterior), and new AC and water heaters. The property currently houses sixteen income-producing units: seven 11.3' x 13' units, four 11.3' x 23' units, two 35' x 11.3' units, one efficiency apartment, one three-bedroom apartment, and a 22' x 33' cabinet shop. Additional income is generated from covered and uncovered parking spaces. The property boasts a strong current income stream of approximately $8,350 per month at full capacity, with a net operating income (NOI) of $93,600 and an 11.71% cap rate. The asking price is $799,000, with owner financing available. The property is zoned BHC (Business Heavy Commercial) and offers a turnkey operation with a permanent tenant base. Virtual tours are available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $565,000
      6.5%
      $520,000
      7%
      $485,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.021
    Latitude
    29.1551
    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
    $5,468
    $30,345
    $252,124
    $282,469
    -
    $30,345
    $252,124
    $282,469

    Comparable in this City

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    • Value Estimation by Request
      1,440 SF

      3100 Ridgewood Ave, Unit 46

      WAREHOUSE, STORAGE • 1,440 SF
      3100 Ridgewood Ave, South Daytona, FL 32119-4501
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    • Value Estimation by Request
      1,440 SF

      3100 Ridgewood Ave, Unit 47

      WAREHOUSE, STORAGE • 1,440 SF
      3100 Ridgewood Ave, South Daytona, FL 32119-4501
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    • Value Estimation by Request
      1,440 SF

      3100 Ridgewood Ave, Unit 54

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      3100 Ridgewood Ave, Unit 71

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      1,026 SF

      3100 Ridgewood Ave, Unit 75

      WAREHOUSE, STORAGE • 1,026 SF
      3100 Ridgewood Ave, South Daytona, FL 32119-4501
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    • $799,000
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      South Daytona Multi-Use Property

      16-unit income-producing property, owner financing available.
      1018 Cutters Way, South Daytona, FL 32119
      View Details
    • $364,999
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      South Daytona Flex Unit

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    Similar Nearby for Lease

    • $12 SF/Yr

      South Daytona Warehouse Flex Space

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      South Daytona Flex Space Available

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    • New
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      23,933 SF

      Daytona Beach Warehouse Space Available

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    • $4,000 /Mo
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      4000 SF commercial space with office and roll-up doors.
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      View Details
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    1018 Cutters Way
    Daytona Beach, FL 32119
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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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