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    Property profile & analytics

    703 S State St Bunnell, FL 32110

    • Grocery and convenience stores
    • 3,507 SF
    • 0.70 lot acres
    For Sale
    View listing
    $1,600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3571152
    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

    • Wood Art Furniture / Woodworker / Drafting Service
    • Financial Auto Group LLC / Motor Vehicle Dealer
    • outcastz custom cycleworks / Motorcycle Shop
    • Lil City Lounge / Restaurant

    Property Details for 703 S State St

    Year built
    1988
    Construction
    CONCRETE BLOCKS
    Lot size
    0.70 lot acres
    Property size
    3,507 SF
    Zone code
    B-1
    Property type
    Grocery and convenience stores
    APN
    10-12-30-0850-01790-0010
    APU
    1012300850017900010

    Description

    This exceptional commercial property, located at 703 S State St in Bunnell, Florida (zip code 32110), offers 1,200 square feet of versatile office space. The single-tenant building is zoned for commercial use and situated in Flagler County. Its flexible design allows for adaptability to various business needs, making it suitable for traditional office, medical office, or creative office uses. The property is categorized as Retail, Office, and Special Purpose. The building is a single-story structure. Potential tenants have the option to lease the entire 1200 square foot space or potentially divide or expand the space to meet their specific requirements. Monthly rental rates range from $1200 to $1500, with an additional $150 per month in fees. The property enjoys a convenient location just off US 1, providing excellent accessibility and visibility. This presents a unique opportunity for businesses seeking a well-located, adaptable office space in a thriving community. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $310,000
      Market price range: $310k - $655k

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

    Location Insight

    • Map
    • Local Demand
    City
    Bunnell
    County
    Flagler
    State
    Florida
    Longitude
    -81.2634
    Latitude
    29.4692
    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
    $11,184
    $183,905
    $331,942
    $515,847
    -
    $183,905
    $331,942
    $515,847

    Comparable in this City

    • Value Estimation
      $245,000
      2,870 SF

      3495 Us Hwy 1st 1

      CONVENIENCE STORE • 2,870 SF
      3495 Us Hwy 1st 1, Bunnell, FL 32110-5899
      View Details
    • Value Estimation
      $280,000
      2,580 SF

      500 Moody Blvd

      CONVENIENCE STORE • 2,580 SF
      500 Moody Blvd, Bunnell, FL 32110-5940
      View Details
    • Value Estimation
      $265,000
      1,170 SF

      605 State St

      CONVENIENCE STORE • 1,170 SF
      605 State St, Bunnell, FL 32110-6001
      View Details
    • Value Estimation
      $105,000
      2,086 SF

      400 State St

      CONVENIENCE STORE • 2,086 SF
      400 State St, Bunnell, FL 32110-6106
      View Details
    • Value Estimation
      $300,000
      2,501 SF

      700 State St

      CONVENIENCE STORE • 2,501 SF
      700 State St, Bunnell, FL 32110-8051
      View Details
    • Value Estimation
      $270,000
      5,600 SF

      2245 Old Dixie Hwy

      CONVENIENCE STORE • 5,600 SF
      2245 Old Dixie Hwy, Bunnell, FL 32110-5897
      View Details

    Similar Nearby for Sale

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      Established Salon Business For Sale

      Long-standing salon in busy Bunnell strip center for sale.
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      Bunnell, FL Retail Investment Opportunity

      12,570 SF retail property in Bunnell, Florida for sale.
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    • $2,600,000
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      Bunnell Mixed-Use Investment

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      View Details
    • $1,600,000
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      BUNNELL Mixed-Use Investment Opportunity

      Nine-unit commercial complex with storage in a high-growth area.
      703 S State St, Bunnell, FL 32110
      View Details
    • $1,600,000
      10,689 SF

      Bunnell Commercial Mixed-Use Complex

      Nine-unit commercial complex with storage in Bunnell, Florida.
      703 S State St, Bunnell, FL 32110
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    • $1,900,000

      Restaurant/Bar/Nightclub Opportunity on SR 100

      Restaurant, sports bar, or nightclub property with full liquor license.
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    Similar Nearby for Lease

    • $1,400 /Mo
      954 SF

      Retail Space on US-1

      Commercial space on US-1, minutes from the beach. Available now!
      502 N State St, Bunnell, FL 32110
      View Details
    • Contact for pricing
      2,000 SF

      New Construction Restaurant/Office Space

      New construction restaurant/office space available June 2025.
      2350 Commerce Pkwy, Bunnell, FL 32110
      View Details
    • $3,500 /Mo
      20,571 SF

      BUNNELL Mixed-Use Commercial Building

      3200 sqft commercial building suitable for retail or office.
      111 S Railroad St, Bunnell, FL 32110
      View Details
    • $170 SF/Yr
      200 SF

      Storage Unit For Rent

      10x20 storage unit with drive-up access in Bunnell, FL.
      500 E Court St, Bunnell, FL 32110
      View Details
    • $42,000

      Renovated Office Building For Rent

      Office building for rent in prime Bunnell location.
      3100 E Moody Blvd, Bunnell, FL 32110
      View Details
    • $19 SF/Yr
      4,000 SF

      Bunnell Warehouse Space Available

      4,000 sq ft warehouse space for lease.
      2323 N State St, Bunnell, FL 32110
      View Details
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    703 S State St
    Bunnell, FL 32110
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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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