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    Property profile & analytics

    507 Atlantic Ave Ormond Beach, FL 32176-7129

    • Motels
    • 23,696 SF
    • 0.60 lot acres
    OFF-MARKET
    Last Sale
    Dec 14, 2023
    $7,322,500
    Value Estimations
    $7,675,000
    Show details
    Cap Rate Potential
    2.1%
    Motels
    Location Intelligence
    Property ID
    US18-3096970
    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

    • Chateau Mar Beach Resort / Hotel & Motel
    • Howard Johnson Ormond Beach / Hotel & Motel

    Property Details for 507 Atlantic Ave

    Year built
    1968
    Construction
    CONCRETE
    Lot size
    0.60 lot acres
    Property size
    23,696 SF
    Zone code
    B6
    Property type
    Motels
    APN
    4223-06-02-0130
    APU
    422306020130

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,143,000
      Market price range: $4.02M - $8.14M
      AI Estimate
      $7,920,000
      Market price range: $592k - $8.69M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,335,000
      Current use
      AUTO REPAIR, GARAGE
      $5,890,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0329
    Latitude
    29.2789
    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
    $58,380
    $1,168,875
    $2,406,362
    $3,575,237
    -
    $1,168,875
    $2,406,362
    $3,575,237

    Comparable in this City

    • Value Estimation
      $705,000
      0.24 Acres

      145 Atlantic Ave

      HOTEL/MOTEL • 0.24 Acres
      145 Atlantic Ave, Ormond Beach, FL 32176-6620
      View Details
    • Value Estimation by Request

      187 Atlantic Ave

      HOTEL/MOTEL
      187 Atlantic Ave, Ormond Beach, FL 32176-6620
      View Details
    • Value Estimation
      $575,000
      0.11 Acres

      149 Atlantic Ave, Unit 5300

      HOTEL/MOTEL • 0.11 Acres
      149 Atlantic Ave, Ormond Beach, FL 32176-6620
      View Details
    • Value Estimation
      $810,000
      8,664 SF

      484 Atlantic Ave

      MOTEL • 8,664 SF
      484 Atlantic Ave, Ormond Beach, FL 32176-7176
      View Details
    • Value Estimation
      $735,000
      1.71 Acres

      621 Atlantic Ave

      HOTEL/MOTEL • 1.71 Acres
      621 Atlantic Ave, Ormond Beach, FL 32176-7715
      View Details
    • Value Estimation by Request

      867 Atlantic Ave

      HOTEL/MOTEL
      867 Atlantic Ave, Ormond Beach, FL 32176-7816
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Oceanfront Motel and Commercial Building

      Oceanfront motel, commercial building, and luxury renovated apartments package.
      1732 Ocean Shore Blvd, Ormond Beach, FL 32176
      View Details
    • Contact for pricing
      13,215 SF

      Oceanfront Hotel in Ormond Beach

      Meticulously renovated independent hotel with prime oceanfront location.
      599 S Atlantic Ave, Ormond Beach, FL 32176
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    • $230,000
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      Oceanview Lot Near Beach

      Beachside lot with ocean view, ideal for building.
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    • $2,300,000
      4,488 SF

      Ormond Beach Sports Bar & Grill

      Turn-key sports bar and grill with real estate for sale.
      1368 Ocean Shore Blvd, Ormond Beach, FL 32176
      View Details
    • Contact for pricing
      3,200 SF

      Established Hardware Store Business Opportunity

      Turn-key hardware business serving the Ormond beachside peninsula community.
      1294 Ocean Shore Blvd, Ormond Beach, FL 32176
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    • Contact for pricing
      1,745 SF

      Ormond Beach Condo with River Views

      Luxurious 2-bedroom condo with Intracoastal views and community amenities.
      1 John Anderson Dr, Ormond Beach, FL 32176
      View Details

    Similar Nearby for Lease

    • $2,072 /Mo
      32,040 SF

      Ormond Beach Retail Space Available

      High-visibility retail space in a thriving beachside plaza.
      1452 Ocean Shore Blvd, Ormond Beach, FL 32176
      View Details
    • $2,500 /Mo
      2,710 SF

      Ormond Beach Commercial Space Available

      Adaptable commercial space in a sought-after beachside location.
      202 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
    • $20 SF/Yr
      5,370 SF

      Prime Retail Space Available

      Retail spaces available in recently renovated Ellinor Village Shopping Center.
      616-620 S Atlantic Ave, Ormond Beach, FL 32176
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space on Granada Boulevard

      Retail space with high visibility and recent facade renovation.
      155-251 E Granada Blvd, Ormond Beach, FL 32176
      View Details
    • $2,329 /Mo
      1,433 SF

      Ormond Beach Medical/Professional Office Space

      Prime location, move-in ready, or build-out to suit.
      1184 Ocean Shore Blvd, Ormond Beach, FL 32176
      View Details
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    Ormond Beach, FL 32176-7129
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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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