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

    232 Riv Bch Dra Ormond Beach, FL 32176-7712

    • Medical offices
    • 1,296 SF
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    $145,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1679389
    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

    • Lettimdoit / Website Designer
    • Rentrepreneur / Business Development Service
    • Jackson Hewitt Tax Service / Tax Preparation / Tax Consultant
    • Local Broker & Associates / Real Estate Agency
    • Preferred Properties Real Estate Inc / Real Estate Agency

    Property Details for 232 Riv Bch Dra

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.03 lot acres
    Property size
    1,296 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    4223-30-00-0010
    APU
    422330000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $150,000
      Market price range: $102k - $416k
      AI Estimate
      $143,000
      Market price range: $94.8k - $354k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $230,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $230,000
      Change: -0% Conversion: Difficult
      RETAIL STORES
      $205,000
      Change: -12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $195,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.034
    Latitude
    29.278
    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
    $2,206
    $58,320
    $76,800
    $135,120
    -
    $58,320
    $76,800
    $135,120

    Comparable in this City

    • Value Estimation
      $170,000
      1,111 SF

      200 Vining Ct, Unit 6

      MEDICAL BUILDING • 1,111 SF
      200 Vining Ct, Ormond Beach, FL 32176-6658
      View Details
    • Value Estimation by Request
      1,488 SF

      194 Vining Ct, Unit 3

      MEDICAL BUILDING • 1,488 SF
      194 Vining Ct, Ormond Beach, FL 32176-6658
      View Details
    • Value Estimation
      $140,000
      3,418 SF

      180 Vining Ct

      MEDICAL BUILDING • 3,418 SF
      180 Vining Ct, Ormond Beach, FL 32176-6658
      View Details
    • Value Estimation
      $130,000
      1,484 SF

      198 Vining Ct

      MEDICAL BUILDING • 1,484 SF
      198 Vining Ct, Ormond Beach, FL 32176-6658
      View Details
    • Value Estimation
      $170,000
      1,753 SF

      232 Riv Bch Drb

      MEDICAL BUILDING • 1,753 SF
      232 Riv Bch Drb, Ormond Beach, FL 32176-7712
      View Details
    • Value Estimation
      $350,000
      4,339 SF

      722 Atlantic Ave

      MEDICAL BUILDING • 4,339 SF
      722 Atlantic Ave, Ormond Beach, FL 32176-7897
      View Details

    Similar Nearby for Sale

    • $1,199,000
      3,358 SF

      Former Bank Building in Downtown

      Two-story building suitable for various commercial uses.
      128 E Granada Blvd, Ormond Beach, FL 32176
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    • Contact for pricing
      3,200 SF

      Ormond Beach Convenience Store Space

      3,200 SF open retail space on A1A.
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    • $3,800,000
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      Ormond Beach Commercial Oceanfront Property

      Updated 4,077 SF restaurant on 0.87-acre corner lot.
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    • $1,100,000
      985 SF

      Renovated Condominium Near Ormond Beach

      Completely renovated 5-unit condominium near the ocean and shopping.
      55 Vining Ct, Ormond Beach, FL 32176
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    • $795,000
      Pending

      Ormond Beach Coastal Commercial Property

      Freestanding building with high visibility and income potential.
      1760 Ocean Shore Blvd, Ormond Beach, FL 32176
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    • New
      $269,900
      0.16 Acres

      Ormond Beach Land For Sale

      Residential land in a neighborhood near the beach in Ormond Beach.
      148 Coquina Key Dr, Ormond Beach, FL 32176
      View Details

    Similar Nearby for Lease

    • $0.09 SF/Yr
      2,275 SF

      Prime Ormond Beach Office Space

      Versatile Office Suites, 2,275-4,082 SF
      200 Granada Blvd, Ormond Beach, FL 32176
      View Details
    • $192 SF/Yr
      29,730 SF

      Aliki Plaza: Ormond Beach Office

      Beachfront Office Space Available
      400 Atlantic Ave, Ormond Beach, FL 32176
      View Details
    • $2,250 /Mo
      Pending

      Ormond Beach Prime Office Space

      Highly visible 1,800 SF office space for lease.
      115 E Granada Blvd, Ormond Beach, FL 32176
      View Details
    • $1,650 /Mo
      7,424 SF

      Ormond Beach Office Suites

      Professional office suites in a prime beachside location.
      730 S Atlantic Ave, Ormond Beach, FL 32176
      View Details
    • $2,187 /Mo
      1,232 SF

      Beachside Retail/Office Space Available

      Versatile 1,232 SF suite in Ormond Beach, Florida.
      1452 Ocean Shore Blvd, Ormond Beach, FL 32176
      View Details
    • $4,000 /Mo
      2,960 SF

      Updated Office Space in Ormond

      Updated office space in Ormond Beachside's Mainstreet business district.
      195 Coquina Ct, Ormond Beach, FL 32176
      View Details
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    Ormond Beach, FL 32176-7712
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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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