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    Property profile & analytics

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

    • Assisted living facilities
    • 7,074 SF
    • 3.07 lot acres
    OFF-MARKET
    Value Estimations
    $1,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    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.

    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 size
    7,074 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    4241-39-00-0010
    APU
    424139000010

    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 valuation — 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
      $3,995,000
      49,200 SF

      170 Ctr St

      HOMES (RETIRED, NURSING) • 49,200 SF
      170 Ctr St, Ormond Beach, FL 32174-5186
      View Details
    • Value Estimation
      $1,730,000
      71,472 SF

      350 Clyde Morris Blvd

      HOMES (RETIRED, NURSING) • 71,472 SF
      350 Clyde Morris Blvd, Ormond Beach, FL 32174-5993
      View Details
    • Value Estimation
      $1,765,000
      34,224 SF

      170 Old Kings Rd

      HOMES (RETIRED, NURSING) • 34,224 SF
      170 Old Kings Rd, Ormond Beach, FL 32174-5118
      View Details
    • Value Estimation by Request
      15,986 SF

      495 Sterthaus Dr

      HOMES (RETIRED, NURSING) • 15,986 SF
      495 Sterthaus Dr, Ormond Beach, FL 32174-5121
      View Details
    • Value Estimation by Request
      8,415 SF

      30 Frst Ct

      HOMES (RETIRED, NURSING) • 8,415 SF
      30 Frst Ct, Ormond Beach, FL 32174-6118
      View Details
    • Value Estimation
      $845,000
      25,097 SF

      240 Interchange Blvd

      HOMES (RETIRED, NURSING) • 25,097 SF
      240 Interchange Blvd, Ormond Beach, FL 32174-1829
      View Details

    Similar Nearby for Sale

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      Ormond Beach Commercial Land Parcel

      6.85-acre commercial land parcel on Ormond Beach's premier corridor.
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      Ormond Beach Commercial Investment Opportunity

      Prime Ormond Beach location, strong tenant.
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      6.85 Acres, Prime Location, High Traffic
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      Ormond Beach Bistro for Sale

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    Similar Nearby for Lease

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      23,467 SF

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    • $29,400
      29,400 SF

      Ormond Beach Office Space Available

      29,400 SF office space in Ormond Beach for lease.
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    • $23 SF/Yr
      4,765 SF

      275 Williamson Blvd

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      Ormond Beach Office Space for Lease

      Prime Office, 3,604 SF Available
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    • Contact for pricing
      36,582 SF

      Prime Ormond Beach Retail Space

      Single-tenant retail, 36,582 sq ft
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      View Details
    • $22 SF/Yr
      2,500 SF

      Retail Space Near I-95

      Former restaurant space with high visibility and building signage.
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      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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