Back to Search
Property profile & analytics
FOR SALE
Manufacturing properties
599 S Atlantic Ave Ormond Beach, FL 32176
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US19-0728770
For Sale
1 / 70
$8,500,000
599 S Atlantic Ave, Ormond Beach, FL 32176
View Listing →
Property summary
AI-generated overview
This exceptional 40-key oceanfront hotel in Ormond Beach, Florida, presents a rare investment opportunity. Boasting 13,215 square feet across two, two-story concrete buildings on a 32,293 square foot lot (APN: 4223-05-08-0110), this property underwent a complete renovation within the past year. The hotel features 80 beds and offers direct beach access with a swimming pool. A significant investment has been made in fortifying the seawall with concrete and steel, providing enhanced protection against hurricane damage. The elevated location minimizes flood risk. Each of the meticulously maintained rooms includes a dehumidifier. An open space by the pool presents potential for expansion, such as a Tiki bar. The property benefits from year-round tourism driven by events like the Daytona 500 and Bike Week. The seller is offering generous financing terms. This fee-simple ownership (no ground lease) is suitable for a 1031 exchange. The property is zoned commercial. Built in 1957, this hotel is a turnkey operation ready for a new owner to capitalize on its prime location and recent renovations. The property is offered at $9,500,000.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,637 SF
Lot
0.74 ac (32,293 SF)
Zoning code
B6
APN
4223-05-08-0110
UPID
US19-0728770
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
-
Oceanfront Inn and Suites - Ormond Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
$610k
Comparable Approach
Comparable
$587k
Blend (final)
Blend
$545k
Owner & transaction history
Ormond Innkeepers LLC · 15 yrs held
Ormond Innkeepers LLC
since 2011
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
Method
Estimation
Statistic approach
by Request
ML approach
$440,000
CAP Approach
CAP Return
Estimation
6%
$660,000
6.5%
$610,000
7%
$565,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$860,000
Current use
WAREHOUSE, STORAGE
$815,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$82 / 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
$21,746
Tax year 2023
Assessed value
$1,342,638
Assessed 2023
Previous assessed
$1,205,749
+11.4% YoY
Effective rate
1.62%
On assessed value
Assessed land
$1,307,867
Assessed improvement
$34,771
Land market value
$1,307,867
Improvement market value
$34,771
Total market value
$1,342,638
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Sale
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Units
40
Bathrooms
40
Total area
6,637 SF
Lot
0.74 ac (32,293 SF)
Zoning code
B6
APN
4223-05-08-0110
UPID
US19-0728770
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$860,000
WAREHOUSE, STORAGE
Est. value
$815,000
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
40
Bathrooms
40
Lot
0.74 ac
Current owner
From public records · entity-resolved
Ormond Innkeepers LLC
Entity
Mailing address
599 S ATLANTIC AVE, ORMOND BEACH, FL 32176-7755
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2018
—
Ormond Innkeepers LLC
—
Deed
related
$2,000,000 · Friends Bank
Feb 11, 2011
—
Ormond Innkeepers LLC
Ocean Waters Hotel Co LLC
Grant Deed
—
Jul 22, 2009
—
Ocean Waters Holding Co LLC
—
Deed Of Trust
related
$20,000,000 · Wachovia Bank NA
May 16, 2006
$3,450,000
Bray & Gillespie LLC Xlix
Ekrem Buljina
Warranty Deed
$3,522,000 · Wachovia Bank NA
Nov 30, 2001
$1,175,000
Ekrem Buljina
Atlantic International INC
Grant Deed
$775,000 · Atlantic International INC
—
—
Ormond Innkeepers LLC
—
Deed Of Trust
related
$250,000 · Y- Mc LLC
—
—
Ormond Innkeepers LLC
—
Deed Of Trust
related
$880,000 · Homebanc
—
—
Ormond Innkeepers LLC
—
Deed Of Trust
related
$600,000 · Gujarati Investments LLC
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
