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Property profile & analytics
OFF-MARKET
Estimated value
$2,265,000
Motels
423 Flagler Ave New Smyrna Beach, FL 32169-2640
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-3726549
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,534 SF
Lot
0.51 ac (22,400 SF)
Zoning code
B1
APN
7455-01-00-0230
UPID
US18-3726549
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.93M
Blend (final)
Blend
$2.27M
Owner & transaction history
Chestnut Hill LLC · 5 yrs held
Chestnut Hill LLC
since 2021
Last sale
$2.0M
2 recorded transactions
Zoning & alternative use
B1 · New Smyrna Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.4M
+79.2%
Retail stores
$2.4M
+25.5%
Auto repair, garage
$2.1M
+10.4%
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 New Smyrna Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Smyrna Beach 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
by Request
ML approach
$3,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,920,000
Current use
COMMERCIAL (GENERAL)
$3,440,000
Change: +79% · Conversion: Difficult
RETAIL STORES
$2,410,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,120,000
Change: +10% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,770,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$1,585,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.27M
Range $2.04M – $2.49M · ±10% · vs last sale $2.00M (May 14 2021)
Last sale anchor
$2.00M
May 14 2021
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
$265 / 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
$29,510
Tax year 2023
Assessed value
$1,671,001
Assessed 2023
Previous assessed
$1,654,079
+1.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$1,456,000
Assessed improvement
$215,001
Land market value
$1,456,000
Improvement market value
$215,001
Total market value
$1,671,001
Applied tax rate
601.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
20
Bathrooms
21
Total area
8,534 SF
Lot
0.51 ac (22,400 SF)
Zoning code
B1
APN
7455-01-00-0230
UPID
US18-3726549
Jurisdiction
VOLUSIA
Zoning & alternative use
B1 · New Smyrna Beach, FL
Zoning B1 · permitted uses
B1 · New Smyrna Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Smyrna Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$3.4M
RETAIL STORES
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
MEDICAL 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
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
20
Bathrooms
21
Lot
0.51 ac
Current owner
From public records · entity-resolved
Chestnut Hill LLC
Entity
Mailing address
423 FLAGLER AVE, NEW SMYRNA BEACH, FL 32169-2640
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2021
$2,000,000
Chestnut Hill LLC
Re Seorerance Resorts International
Warranty Deed
$1,500,000 · The Grant County Bank
Oct 8, 2001
—
E Severance Resorts Intl R
Severance,richard
Quit Claim Deed
related
—
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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