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    Property profile & analytics

    1291 Granada Blvd Ormond Beach, FL 32174

    • Commercial real estate
    • 4.28 lot acres
    For Sale
    View listing
    $950,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0096285
    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

    • Commercial real estate

    Property Details for 1291 Granada Blvd

    Lot size
    4.28 lot acres
    Property type
    Commercial real estate
    APN
    423000000270

    Description

    This exceptional 4.28-acre parcel, located at 1291 West Granada Boulevard in Ormond Beach, Florida (APN: 423000000270), presents a unique investment opportunity. Zoned for Residential/Office/Retail (Ormond Beach SR-FLU ROR), this property boasts excellent visibility and accessibility, situated directly across from Lowe's, Panera Bread, and Chipotle. The land offers 30 feet of access easement between Zaxby's and Vystar Credit Union, ensuring convenient ingress and egress. With a total asking price of $950,000 ($175,234 per acre), this location benefits from high traffic volume on West Granada Boulevard (SR 40), averaging 35,500 vehicles per day. Previous development plans exist for a 26,000 square foot, two-story building and a separate 6,080 square foot structure, providing a solid foundation for future development. The property's proximity to I-95 (less than one mile) further enhances its strategic value. An additional 2.5 acres of adjacent land may also be available for acquisition, presenting an opportunity to expand the development footprint. This prime location and flexible zoning make this an ideal investment for developers seeking high-impact commercial or mixed-use projects in a thriving Ormond Beach market. The property's location and zoning provide a multitude of development options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.108408
    Latitude
    29.265573

    Comparable in this City

    • $139,900

      Ormond Beach Commercial Land Parcel

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    • $2,000,000
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      Prime Ormond Beach Commercial Land

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    • $399,000

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      0.82 Acres, US-1 Retail Location
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    • $566,500
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      Ormond Beach Commercial Land - US-1

      Prime 2.06-acre commercial lot, US-1 frontage.
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    • $458,000
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      Ormond Beach Medical Condo

      Prime location, fully renovated suite.
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    • $799,900

      Prime Ormond Beach Commercial Land

      25 Acres, High-Visibility Location, $799,900
      0 Sr-40, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Sale

    • $139,900

      Ormond Beach Commercial Land Parcel

      Prime Office Development Site, 26,571 SF
      560 Sterthaus Dr, Ormond Beach, FL 32174
      View Details
    • $2,000,000
      20.91 Acres

      Prime Ormond Beach Commercial Land

      20+ Acres, B-1 Zoning, High Visibility
      0 Sec Of Wilmette Ave, Ormond Beach, FL 32174
      View Details
    • $399,000

      Prime Ormond Beach Commercial Land

      0.82 Acres, US-1 Retail Location
      670 Yonge St, Ormond Beach, FL 32174
      View Details
    • $566,500
      2.06 Acres

      Ormond Beach Commercial Land - US-1

      Prime 2.06-acre commercial lot, US-1 frontage.
      1031 Us Highway 1, Ormond Beach, FL 32174
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    • $458,000
      1,652 SF

      Ormond Beach Medical Condo

      Prime location, fully renovated suite.
      595 Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $799,900

      Prime Ormond Beach Commercial Land

      25 Acres, High-Visibility Location, $799,900
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      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
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    • $0.01 SF/Yr
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      Prime Ormond Beach Office Space

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    • $90,000

      Granada Blvd. Pad-Ready Sites

      Ormond Beach commercial land, prime location.
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    • $4 SF/Yr
      13,133 SF

      776 Parque Drive: Ormond Beach Warehouse

      New Construction Warehouse Condo, Flexible Space
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    • $13 SF/Yr
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      754 Parque Dr

      Distribution properties • 13,133 SF
      754 Parque Dr, Ormond Beach, FL 32174
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    • $13 SF/Yr
      7,500 SF

      Ormond Beach Industrial Warehouse

      7,500 SF Flex Space, Prime Location
      912 Nova Rd, Ormond Beach, FL 32174
      View Details
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    Ormond Beach, FL 32174
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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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