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    1516 State Ave Daytona Beach, FL 32117
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    Property profile & analytics

    1516 State Ave Daytona Beach, FL 32117

    View on Map
    • Warehouses
    • 11,251 SF
    • 1.82 lot acres
    For Lease
    $13 SF/Yr
    View Listing →
    Daytona Warehouse Spaces For Lease For Lease
    $13 SF/Yr
    1,200 SF

    Daytona Warehouse Spaces For Lease

    Versatile warehouse spaces available for lease in Daytona Commerce Center.

    1516 State Ave, Daytona Beach, FL
    View Listing
    Property ID
    US18-5067735
    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
    $6,500,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cross Woodcraft / General Contractor
    • Southern Gold Motorsports / Motorcycle Shop
    • The Used Bike Spotlight / Motorcycle Shop

    Property Details for 1516 State Ave

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.82 lot acres
    Property size
    11,251 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    4242-20-36-0070
    APU
    424220360070

    Description

    This Daytona Beach warehouse offers 17 available units, perfect for a variety of industrial and warehouse uses. The property, located at 1516 State Ave in Volusia County, boasts a total of 2,525 square feet across a single-story building constructed in 1981. Units range in size from 1,200 to 2,400 square feet, featuring impressive 18-foot ceilings and convenient 10 x 12 roll-up doors. The building itself is a Class C property with aluminum siding and roofing, ensuring durability and low maintenance. Tenancy is multiple, allowing for flexibility and diverse business occupancy. The Daytona Commerce Center benefits from a prime location near US Highway 1, providing easy access to major transportation routes, and is only 20 minutes from Daytona International Airport. Ample lighted parking is available for tenants and their clients. City water ensures a reliable supply. Condo fees cover various maintenance services, simplifying operations. Lease terms of 3-5 years are available. The diverse tenant mix currently includes auto repair shops and engineering firms, creating a vibrant and established business community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,500,000
      ML approach
      $6,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0479
    Latitude
    29.2527
    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
    $25,880
    $261,370
    $946,758
    $1,208,128
    -
    $261,370
    $946,758
    $1,208,128

    Comparable in this City

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      952 Teresa St

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      49,380 SF

      831 Bill France Blvd

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    • Value Estimation by Request

      1115 Enterprise Ct

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    • Value Estimation
      $580,000
      10,821 SF

      607 3rd St

      WAREHOUSE, STORAGE • 10,821 SF
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      View Details

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    Similar Nearby for Lease

    • $13 SF/Yr
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      Daytona Warehouse Spaces For Lease

      Versatile warehouse spaces available for lease in Daytona Commerce Center.
      1516 State Ave, Daytona Beach, FL 32117
      View Details
    • $13 SF/Yr
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      Daytona Warehouse Spaces For Lease

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      Daytona Beach Industrial Facility

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      LPGA Boulevard Warehouse Space

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      Holly Hill Showroom with Warehouse

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    Daytona Beach, FL 32117
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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.

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    1516 State Ave, Daytona Beach, FL, 32117
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