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

    507 Herbert St Port Orange, FL 32129-3849

    • Investment properties
    • 2,325 SF
    • 2.38 lot acres
    OFF-MARKET
    Last Sale
    Sep 01, 2023
    $1,047,600
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    2.5%
    Investment properties
    Location Intelligence
    Property ID
    US18-4997630
    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

    • Investment properties

    Property Details for 507 Herbert St

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.38 lot acres
    Property size
    2,325 SF
    Zone code
    CI
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    6304-03-00-0010
    APU
    630403000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,140,000
      ML approach
      $1,225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $741,000
      Market price range: $217k - $741k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $690,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Orange
    County
    Volusia
    State
    Florida
    Longitude
    -80.9939
    Latitude
    29.1438
    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
    $20,238
    $264,223
    $883,719
    $1,147,942
    -
    $264,223
    $883,719
    $1,147,942

    Comparable in this City

    • Value Estimation by Request
      1,392 SF

      1525 Herbert St Ste, Unit 103

      STORE/OFFICE (MIXED USE) • 1,392 SF
      1525 Herbert St Ste, Port Orange, FL 32129-6107
      View Details
    • Value Estimation by Request
      1,392 SF

      1525 Herbert St Ste, Unit 104

      STORE/OFFICE (MIXED USE) • 1,392 SF
      1525 Herbert St Ste, Port Orange, FL 32129-6107
      View Details
    • Value Estimation by Request
      1,500 SF

      809 Louisville St Ste, Unit 2

      STORE/OFFICE (MIXED USE) • 1,500 SF
      809 Louisville St Ste, Port Orange, FL 32129-3478
      View Details
    • Value Estimation by Request
      1,368 SF

      4641 Clyde Morris Blvd, Unit 202

      STORE/OFFICE (MIXED USE) • 1,368 SF
      4641 Clyde Morris Blvd, Port Orange, FL 32129-6002
      View Details
    • Value Estimation by Request
      936 SF

      4641 Clyde Morris Blvd, Unit 203

      STORE/OFFICE (MIXED USE) • 936 SF
      4641 Clyde Morris Blvd, Port Orange, FL 32129-6002
      View Details
    • Value Estimation by Request
      1,392 SF

      4645 Clyde Morris Blvd Ste, Unit 407

      STORE/OFFICE (MIXED USE) • 1,392 SF
      4645 Clyde Morris Blvd Ste, Port Orange, FL 32129-3005
      View Details

    Similar Nearby for Sale

    • $3,999,000

      Prime Port Orange Commercial Land

      11.8 Acres, Ready to Develop
      3830 Clyde Morris Blvd, Port Orange, FL 32129
      View Details
    • Contact for pricing

      Prime Port Orange Commercial Land

      0.11-Acre Lot, $29,999
      951 Orange Ave, Port Orange, FL 32129
      View Details
    • $549,900
      2.56 Acres

      Port Orange Commercial Land Investment

      2.56 Acres, Zoned BCG, High Potential
      3301 Nova Rd, Port Orange, FL 32129
      View Details
    • $155,000

      Prime Port Orange Commercial Land

      1.9-Acre Site, High Visibility, Rezoning Potential
      39XX Clyde Morris Blvd, Port Orange, FL 32129
      View Details
    • $1,498,999
      3.39 Acres

      Port Orange Commercial Land

      High-visibility 3.39-acre site, prime location.
      4629 Clyde Morris Blvd, Port Orange, FL 32129
      View Details
    • $329,000
      2.47 Acres

      Port Orange Development Land

      6-Lot Residential Subdivision Site
      0 Old Hammock Rd, Port Orange, FL 32129
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Port Orange Retail Sublease Opportunity

      Prime Port Orange location, immediate occupancy.
      4900 Clyde Morris Blvd, Port Orange, FL 32129
      View Details
    • Contact for pricing
      87,056 SF

      Park Place Plaza Retail Space

      Port Orange, FL Retail Opportunity
      3761 Nova Rd, Port Orange, FL 32129
      View Details
    • $1.14 SF/Yr
      63,660 SF

      Port Orange Industrial Warehouse

      Single-tenant warehouse, 63,660 sq ft.
      707 Samms Ave, Port Orange, FL 32129
      View Details
    • $2,650 /Mo
      1,392 SF

      Port Orange Open Office Space

      Flexible 1,392 sq ft office space with overhead door.
      4645 Clyde Morris Blvd, Port Orange, FL 32129
      View Details
    • Contact for pricing
      8,300 SF

      Port Orange Warehouse Complex

      Warehouse complex in booming Port Orange area, various sizes available.
      703 Samms Ave, Port Orange, FL 32129
      View Details
    • $1,500 /Mo
      1,000 SF

      Port Orange Shared Office Space

      Shared office space in a well-maintained professional office park.
      4645 Clyde Morris Blvd, Port Orange, FL 32129
      View Details
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    507 Herbert St
    Port Orange, FL 32129-3849
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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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