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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1545 Hand Ave Ste B3 Ormond Beach, FL 32174-1140

    • Medical offices
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Mar 08, 2023
    $1,000,000
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5999957
    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

    • Sanjay Bakshi, MD / Physician
    • Millennium Optical / Eye Care Center / Optician
    • Millennium Research / Hospital
    • Carl Tandatnick, MD / Physician
    • Lorrie Kenseth / Physician

    Property Details for 1545 Hand Ave Ste B3

    Lot size
    0.05 lot acres
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    4229-15-00-0040
    APU
    422915000040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0961
    Latitude
    29.263
    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
    $1,722
    $105,450
    $0.00
    $105,450
    -
    $105,450
    $0.00
    $105,450

    Comparable in this City

    • Value Estimation
      $855,000
      4,420 SF

      4 Pearl Dr

      MEDICAL BUILDING • 4,420 SF
      4 Pearl Dr, Ormond Beach, FL 32174-1926
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    • Value Estimation
      $820,000
      3,764 SF

      410 Lakebridge Plz Dr, Unit 410

      MEDICAL BUILDING • 3,764 SF
      410 Lakebridge Plz Dr, Ormond Beach, FL 32174-5157
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    • Value Estimation by Request
      440 SF

      325 Clyde Morris Blvd, Unit 29

      MEDICAL BUILDING • 440 SF
      325 Clyde Morris Blvd, Ormond Beach, FL 32174-8178
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    • Value Estimation
      $1,290,000
      6,107 SF

      1180 Granada Blvd Ste C

      MEDICAL BUILDING • 6,107 SF
      1180 Granada Blvd Ste C, Ormond Beach, FL 32174-8184
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    • Value Estimation
      $860,000
      3,599 SF

      6 Pearl Dr

      MEDICAL BUILDING • 3,599 SF
      6 Pearl Dr, Ormond Beach, FL 32174-4268
      View Details
    • Value Estimation by Request
      1,189 SF

      550 Memorial Cirl00

      MEDICAL BUILDING • 1,189 SF
      550 Memorial Cirl00, Ormond Beach, FL 32174-5059
      View Details

    Similar Nearby for Sale

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      Ormond Beach Commercial Investment Opportunity

      Prime Ormond Beach location, strong tenant.
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      Ormond Beach Commercial Building For Sale

      Versatile 5,601 SF building suitable for various commercial uses.
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    • $1,350,000
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      Ormond Beach Medical Office Building

      Prime US-1 location, 4,666 SF, $1.35M
      479 Us Highway 1, Ormond Beach, FL 32174
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    • Contact for pricing
      3,400 SF

      Ormond Beach Medical Office Outparcel

      Pad-ready site for medical office in premier shopping center.
      1250 W Granada Blvd, Ormond Beach, FL 32174
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    • New
      $762,000
      5,667 SF

      Ormond Beach Professional Office Space

      Turnkey office space in desirable Ormond Beach location.
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    • Contact for pricing
      19,981 SF

      Retail Shoppes at Granada Pointe

      Proposed retail center with drive-thru, completion target late-2025.
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    Similar Nearby for Lease

    • $29,400
      29,400 SF

      Ormond Beach Office Space Available

      29,400 SF office space in Ormond Beach for lease.
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      Ormond Beach Office Space for Lease

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    • $25 SF/Yr
      23,467 SF

      West Granada Center: Medical Offices

      Ormond Beach medical suites available
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    • $23 SF/Yr
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      275 Williamson Blvd

      Medical offices • 4,765 SF
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      Ormond Beach Office Space Available

      2070 SF office space in a busy professional center.
      298 S Nova Rd Unit, Ormond Beach, FL 32174
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    • New
      $3,601 /Mo
      23,278 SF

      Ormond Beach Medical Office Space

      Medical office space available in central Ormond Beach location.
      570 Memorial Cir, Ormond Beach, FL 32174
      View Details
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    Ormond Beach, FL 32174-1140
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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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