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Property profile & analytics
OFF-MARKET
Estimated value
$8,910,000
Warehouses
2303 State St Bunnell, FL 32110-4392
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-6759932
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2007
Construction
CONCRETE BLOCKS
Total area
25,080 SF
Lot
11.97 ac (521,413 SF)
Zoning code
L-1
APN
03-12-30-5015-00000-0012
UPID
US18-6759932
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
iStorage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.21M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.04M
Blend (final)
Blend
$8.91M
Owner & transaction history
Nsa Property Holdings LLC · 4 yrs held
Nsa Property Holdings LLC
since 2022
Last sale
$9.5M
5 recorded transactions
Zoning & alternative use
L-1 · Bunnell, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is to provide areas in which the principal use of land is for light manufacturing, fabricating, and assembly plants, business, services, offices, retail, storage, warehousing, wholesaling and distribution. The intent of this district is to permit and regulate uses so that the noise, odor, dust, and glare of each operation is cont…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
1,535.73 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$13.2M
+183.4%
Restaurant
$8.5M
+81.2%
Office building
$7.4M
+58.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bunnell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bunnell submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$8,270,000
ML approach
$9,210,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$13,245,000
Change: +183% · Conversion: Difficult
RESTAURANT
$8,465,000
Change: +81% · Conversion: Difficult
OFFICE BUILDING
$7,395,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$8.91M
Range $8.02M – $9.80M · ±10% · vs last sale $9.52M (Jul 19 2022)
Last sale anchor
$9.52M
Jul 19 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$355 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$74,815
Tax year 2023
Assessed value
$3,370,000
Assessed 2023
Previous assessed
$3,370,000
+0.0% YoY
Effective rate
2.22%
On assessed value
Assessed improvement
$3,370,000
Improvement market value
$3,370,000
Total market value
$3,370,000
Applied tax rate
15.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2007
Construction
CONCRETE BLOCKS
Heating
NONE
Cooling
AC.PACKAGE
Buildings
4
Stories
1
Units
1
Total area
25,080 SF
Lot
11.97 ac (521,413 SF)
Zoning code
L-1
APN
03-12-30-5015-00000-0012
UPID
US18-6759932
Jurisdiction
FLAGLER
Zoning & alternative use
L-1 · Bunnell, FLZoning L-1 · permitted uses
L-1 · Bunnell, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district is to provide areas in which the principal use of land is for light manufacturing, fabricating, and assembly plants, business, services, offices, retail, storage, warehousing, wholesaling and distribution. The intent of this district is to permit and regulate uses so that the noise, odor, dust, and glare of each operation is controlled to prevent becoming a nuisance to adjacent land uses. These regulations are intended to prevent frictions between uses within the district and also to protect nearby residential districts. This district is compatible with the industrial land use designation.
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
1,535.73 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$13.2M
RESTAURANT
Est. value
$8.5M
OFFICE BUILDING
Est. value
$7.4M
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
CONCRETE BLOCKS
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Units
1
Lot
11.97 ac
Current owner
From public records · entity-resolved
Nsa Property Holdings LLC
Entity
Free & Clear · 4 yrs held
Mailing address
8400 E PRENTICE AVE, GREENWOOD VILLAGE, CO 80111-2912
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2022
$9,520,000
Nsa Property Holdings LLC
Sscp Bunnell LLC
Special Warranty Deed
—
Oct 26, 2017
$3,425,000
Sscp Bunnell LLC
Capital Real Estate Partners Of Flo
Special Warranty Deed
—
Oct 19, 2006
—
Capital R Of E Ptrs/florida LLC
—
Trustees Deed
related
$1,400,000 · 250 East 96 Street LLC
Nov 8, 2005
$899,800
Capital R Of E Ptrs/florida LLC
M & M Dev Of Flagler County INC
Warranty Deed
related
—
—
—
Capital R Of E Ptrs/florida LLC
—
Deed Of Trust
related
$1,000,000 · Siegel Leonard Trust (tr)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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