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Property profile & analytics
OFF-MARKET
Estimated value
$2,190,000
Hotels
505 Atlantic Ave 42UTS, Ormond Beach, FL 32176-7129
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-0358904
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,666 SF
Lot
0.75 ac (32,573 SF)
Zoning code
B6
APN
4223-06-02-0100
UPID
US18-0358904
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
-
Lotus Boutique Inn & Suites Hotel & Motel
-
Hotel de nosotros Hotel & Motel Bed & Breakfast
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.19M
Owner & transaction history
Padmavati Two LLC · 15 yrs held
Padmavati Two LLC
since 2010
7 recorded transactions
Zoning & alternative use
B6 · Ormond Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Ormond Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ormond 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$117 / 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
$24,395
Tax year 2023
Assessed value
$1,609,770
Assessed 2023
Previous assessed
$1,306,030
+23.3% YoY
Effective rate
1.52%
On assessed value
Assessed land
$1,465,785
Assessed improvement
$143,985
Land market value
$1,465,785
Improvement market value
$143,985
Total market value
$1,609,770
Applied tax rate
201.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
1
Units
43
Bathrooms
43
Total area
18,666 SF
Lot
0.75 ac (32,573 SF)
Zoning code
B6
APN
4223-06-02-0100
UPID
US18-0358904
Jurisdiction
VOLUSIA
Zoning & alternative use
B6 · Ormond Beach, FL
Zoning B6 · permitted uses
B6 · Ormond Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ormond Beach. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Units
43
Bathrooms
43
Lot
0.75 ac
Current owner
From public records · entity-resolved
Padmavati Two LLC
Entity
Mailing address
281 S ATLANTIC AVE, ORMOND BEACH, FL 32176-8147
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2020
—
Padmavati Two LLC
—
Deed
related
$400,000 · Intracoastal Bk
Oct 26, 2017
—
Padmavati Two LLC
—
Deed
related
$1,617,394 · Intracoastal Bk
Jul 27, 2011
—
Padmavati One LLC
—
Deed Of Trust
related
$2,542,450 · Sammy C & Diane B Vaughn
Dec 2, 2010
—
Padmavati Two LLC
Ocean Waters Hotel Co LLC
Grant Deed
$1,750,000 · Sammy C & Diane B Vaughn
Jul 22, 2009
—
Ocean Waters Holding Co LLC
—
Deed Of Trust
related
$20,000,000 · Wachovia Bank NA
Aug 17, 2006
$3,750,000
Bray & Gillespie LLC Lii
Meera LLC
Warranty Deed
$4,150,000 · Wachovia Bank NA
—
—
Padmavati Two LLC
—
Deed Of Trust
related
$750,000 · Intracoastal Bank
—
—
Padmavati Two LLC
—
Deed Of Trust
related
$750,000 · Florida Business Dev Corp
—
—
Padmavati Two LLC
—
Deed Of Trust
related
$1,250,000 · Intracoastal Bank
—
—
Padmavati Two LLC
—
Deed Of Trust
related
$1,250,000 · Intracoastal Bank
—
—
Padmavati Two LLC
—
Deed Of Trust
related
$1,617,394 · Intracoastal Bk
—
—
Padmavati Two LLC
—
Deed Of Trust
related
$400,000 · Intracoastal Bk
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.
Try Rey
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