Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3600 State Road 40 Ormond Beach, FL 32174

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7234913
    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

    • Commercial real estate

    Property Details for 3600 State Road 40

    Property type
    Commercial real estate

    Description

    This exceptional 47-acre commercial land parcel presents a unique investment opportunity in Ormond Beach, Florida. Located at 3600 W State Road 40 (Granada Blvd), this property boasts 2,047,320 square feet of land with 2406 feet of frontage on the south side of West Granada Boulevard. Situated approximately seven miles west of I-95 in unincorporated Volusia County, the property offers convenient access to major transportation routes. The land features a pond and abundant wildlife, creating a picturesque setting. Currently zoned 9900-NON Ag, future zoning projections indicate an A2 designation, allowing for 5-acre ranchettes. This versatility makes the property suitable for various development projects, including residential subdivisions, commercial ventures, or even a private estate. The far west portion borders a St. Johns Water Management Resource Corridor, and while wetland delineation is yet to be determined, this aspect adds to the property's unique character and potential. The asking price is $799,000, representing a compelling investment for those seeking future growth and development opportunities in a desirable Florida location. The property's size and location make it ideal for a variety of uses, from large-scale development to a private retreat. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.1857736
    Latitude
    29.2890392

    Comparable in this City

    • $150,000

      Ormond Beach Land: 4.47 Acres

      Prime Commercial/Residential Land, $150,000
      3629 Scotch Pine Ln, Ormond Beach, FL 32174
      View Details
    • $400,000

      Ormond Beach Commercial Land Parcel

      Prime 1.72-Acre Wooded Lot
      124 Lynwood Ln, Ormond Beach, FL 32174
      View Details
    • $995,000
      2.70 Acres

      Riverfront Ormond Beach Land

      Prime 2.7-acre riverfront development site.
      0 Granada Blvd & Bayberry Dr, Ormond Beach, FL 32174
      View Details
    • $475,000

      Ormond Beach Commercial Land

      6-Acre Commercial Lot, $475,000
      0 No St, Ormond Beach, FL 32174
      View Details
    • Contact for pricing

      High Bridge Road Commercial Land

      Secluded 5-acre waterfront parcel in Ormond Beach.
      0 High Brg Rd, Ormond Beach, FL 32174
      View Details
    • $795,000

      Prime Ormond Beach Commercial Land

      66,211 sq ft lot, $795,000
      620 Yonge St, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Sale

    • $99,999
      3.16 Acres

      Riverfront Development Land, Ormond Beach

      3.16 Acres, Agricultural Zoning, Prime Location
      0 Hollow Branch Xing, Ormond Beach, FL 32174
      View Details
    • $699,000
      1.00 Acre

      Ormond Beach Commercial Land

      One-acre vacant lot, prime location.
      140 Sagebrush Trl, Ormond Beach, FL 32174
      View Details
    • $650,000

      Ormond Beach Commercial Land Opportunity

      Seven-acre commercial parcel, prime location.
      0 110, Ormond Beach, FL 32174
      View Details
    • $145,000

      Riverfront Commercial Land, Ormond Beach

      2.34 Acres, Wooded, River Access
      280 Riverbend Rd, Ormond Beach, FL 32174
      View Details
    • Contact for pricing
      0.80 Acres

      Ormond Beach Commercial Land

      Pad-ready sites, prime location.
      756-764 Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $499,000
      0.55 Acres

      Prime Ormond Beach Commercial Land

      0.55-acre lot, high-traffic location.
      40 Yonge St, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      15,882 SF

      Ormond Beach Industrial Warehouse

      Spacious warehouse, prime location, sublease.
      430 Andalusia Ave, Ormond Beach, FL 32174
      View Details
    • $0.01 SF/Yr
      29,400 SF

      Prime Ormond Beach Office Space

      Executive Suites, Ample Parking, 29,400 SF
      280 Yonge St, Ormond Beach, FL 32174
      View Details
    • $90,000

      Granada Blvd. Pad-Ready Sites

      Ormond Beach commercial land, prime location.
      756-764 Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $13 SF/Yr
      13,133 SF

      754 Parque Dr

      Distribution properties • 13,133 SF
      754 Parque Dr, Ormond Beach, FL 32174
      View Details
    • $4 SF/Yr
      13,133 SF

      776 Parque Drive: Ormond Beach Warehouse

      New Construction Warehouse Condo, Flexible Space
      776 Parque Dr, Ormond Beach, FL 32174
      View Details
    • $12 SF/Yr
      31,362 SF

      Ormond Beach Warehouse Space Available

      Multiple units, prime location, I-95 access.
      6 Tower Cir, Ormond Beach, FL 32174
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3600 State Road 40
    Ormond Beach, FL 32174
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.