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    515 Tomoka Ave, Unit A Ormond Beach, FL 32174-6133
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    Property profile & analytics

    515 Tomoka Ave, Unit A, Ormond Beach, FL 32174-6133

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    • Assisted living facilities
    • 7,074 SF
    • 3.07 lot acres
    Off-Market
    Property ID
    US18-5077695
    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.
    Value Estimations
    $1,180,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Arthur Brouse / Physician
    • Promises Five Palms / Medical Clinic
    • AMPARO BEATRIZ BENITEZ-BROOME / Physician
    • LEVI KAHANE / Physician

    Property Details for 515 Tomoka Ave

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.07 lot acres
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    4241-39-00-0010
    APU
    424139000010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 1, 2016 $2,100,000 Phpts Realty Of Ormond Bch LLC Snh Se Properties Trust Grant Deed —
    Aug 2, 2011 $4,867,200 Snh Se Properties Trust Arbors Senior Care LLC Grant Deed —
    Nov 22, 2006 $2,800,000 Arbors Senior Care LLC The Arbors At Ormond Beach LLC Warranty Deed $2.1M · Wachovia Bank NA
    — — Arbors At Ormond Beach LLC — Deed Of Trust · related $2.5M · Heritage Bank North Florida

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $975,000
      Market price range: $93.4k - $975k

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $1,610,000
      Current use
      MEDICAL BUILDING
      $1,840,000
      Change: +14% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,760,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0695
    Latitude
    29.2786
    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
    $26,173
    $285,000
    $1,317,883
    $1,602,883
    -
    $285,000
    $1,317,883
    $1,602,883

    Comparable in this City

    • Value Estimation
      $2,335,000
      150,417 SF

      101 Clyde Morris Blvd

      HOMES (RETIRED, NURSING)
      101 Clyde Morris Blvd, Ormond Beach, FL 32174-8230
      View Details
    • Value Estimation
      $1,325,000
      25,883 SF

      1410 Hand Ave

      HOMES (RETIRED, NURSING)
      1410 Hand Ave, Ormond Beach, FL 32174-8193
      View Details
    • Value Estimation
      $1,585,000
      48,940 SF

      535 Nova Rd

      HOMES (RETIRED, NURSING)
      535 Nova Rd, Ormond Beach, FL 32174-4405
      View Details
    • Value Estimation by Request
      4,320 SF

      1001 Old Tomoka Rd

      HOMES (RETIRED, NURSING)
      1001 Old Tomoka Rd, Ormond Beach, FL 32174-5979
      View Details
    • Value Estimation
      $5,455,000
      23,492 SF

      103 Clyde Morris Blvd

      HOMES (RETIRED, NURSING)
      103 Clyde Morris Blvd, Ormond Beach, FL 32174-5982
      View Details
    • Value Estimation
      $1,730,000
      71,472 SF

      350 Clyde Morris Blvd

      HOMES (RETIRED, NURSING)
      350 Clyde Morris Blvd, Ormond Beach, FL 32174-5993
      View Details

    Similar Nearby for Sale

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      6.85 Acres

      Ormond Beach Commercial Land Parcel

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      9,259 SF

      Ormond Beach Hair Salon

      Established hair salon with transferable lease in Ormond Beach, FL.
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    • New
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      784 SF

      Remodeled Spa/Salon Space on Granada

      784 SF remodeled spa/salon space in Ormond Beach, FL.
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    • $229,000
      0.28 Acres

      Golf Course Estate Lot

      Oversized lot with golf course and conservation views.
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    • Contact for pricing
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      107,612 SF retail center and office building for sale.
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    Similar Nearby for Lease

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      2,006 SF

      Ormond Beach Commercial Space Available

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    • $2,906 /Mo
      1,840 SF

      Ormond Beach Professional Office Space

      1840 SF office space in central Ormond Beach business district.
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      View Details
    • $13 SF/Yr

      Ormond Beach Flex Space Available

      1,250 SF flex space for lease in Ormond Beach.
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      View Details
    • $12 SF/Yr

      Office Space in Ormond Beach

      Office space with high ceilings and coded elevator access available.
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      View Details
    • Contact for pricing

      Storefront Suite Near I-95

      Storefront suite in-line with Aldi and TD Bank.
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    • $3,209 /Mo
      17,516 SF

      Ormond Beach Office Space Available

      2070 SF office space in a busy professional center.
      298 S Nova Rd, Ormond Beach, FL 32174
      View Details
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    Ormond Beach, FL 32174-6133
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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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