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

    2 Sunshine Blvd Ormond Beach, FL 32174-8754

    • Manufacturing properties
    • 61,485 SF
    • 4.50 lot acres
    OFF-MARKET
    Value Estimations
    $1,340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3629639
    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

    • Best Way Tools / Tool Manufacturer
    • Mayhew/Bestway / Manufacturer
    • United Water Restoration Franchise / Water Damage Restoration Service

    Property Details for 2 Sunshine Blvd

    Year built
    1982
    Construction
    WOOD
    Lot size
    4.50 lot acres
    Property size
    61,485 SF
    Zone code
    I1
    Property type
    Manufacturing properties
    APN
    4218-00-03-0010
    APU
    421800030010

    Description

    This exceptional 3,826 square foot traditional office space is ideally situated in the Ormond Airport Business Park in Ormond Beach, Florida. Boasting a single-tenant occupancy, this turnkey property offers immediate availability for businesses seeking a convenient and highly visible location. The space is situated on a corner lot within the complex, providing excellent visibility from Airport Road. Ample parking is available for employees and clients. The property enjoys easy access to major transportation arteries, including I-95 and US-1, ensuring seamless commutes for staff and clients. The building offers high-quality finishes throughout the 3,826 +/- square feet. A lease term of 3-5 years is preferred by the landlord. The property is located at 2 Sunshine Blvd, Ormond Beach, FL 32174, within Volusia County. This is a fantastic opportunity for a business seeking a well-located, move-in ready office space in a thriving area. The property is categorized as a traditional office space and is available for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,471,000
      Market price range: $1.22M - $5.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.1144
    Latitude
    29.2892
    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
    $40,647
    $308,810
    $2,180,440
    $2,489,250
    -
    $308,810
    $2,180,440
    $2,489,250

    Comparable in this City

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      5 Aviator Way

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      View Details
    • Value Estimation
      $235,000
      13,848 SF

      9 Aviator Way

      MANUFACTURING (LIGHT) • 13,848 SF
      9 Aviator Way, Ormond Beach, FL 32174-2983
      View Details
    • Value Estimation
      $160,000
      14,812 SF

      2001 Granada Blvd

      MANUFACTURING (LIGHT) • 14,812 SF
      2001 Granada Blvd, Ormond Beach, FL 32174-2532
      View Details
    • Value Estimation
      $3,415,000
      36,838 SF

      350 Ridgewood Ave

      MANUFACTURING (LIGHT) • 36,838 SF
      350 Ridgewood Ave, Ormond Beach, FL 32174-7028
      View Details
    • Value Estimation
      $205,000
      5,643 SF

      598 Sterthaus Dr

      MANUFACTURING (LIGHT) • 5,643 SF
      598 Sterthaus Dr, Ormond Beach, FL 32174-5128
      View Details
    • Value Estimation
      $255,000
      3,000 SF

      270 Wilmette Ave

      MANUFACTURING (LIGHT) • 3,000 SF
      270 Wilmette Ave, Ormond Beach, FL 32174-5272
      View Details

    Similar Nearby for Sale

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    • New
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      Versatile Land with Workshop, Ormond Beach

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      Ormond Beach Warehouse For Sale

      Warehouse property available for sale in Ormond Beach, Florida.
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    Similar Nearby for Lease

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      7,500 SF Flex Space, Prime Location
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    • $13 SF/Yr
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      Ormond Beach Flex Space Available

      5,000 SF flex space for rent in Ormond Beach.
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    • $4 SF/Yr
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      776 Parque Drive: Ormond Beach Warehouse

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      Ormond Beach Warehouse Space Available

      7,600 SF warehouse space for lease in Ormond Beach.
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    • $10 SF/Yr
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      Ormond Beach Office Space For Lease

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      View Details
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    2 Sunshine Blvd
    Ormond Beach, FL 32174-8754
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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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