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Property profile & analytics
FOR SALE
Strip malls
703 S State St, Bunnell, FL 32110
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US18-5278201
For Sale
1 / 25
$1,600,000
703 S State St, Bunnell, FL 32110
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,610 SF
Lot
2.9 ac (126,237 SF)
Zoning code
L-1
APN
10-12-30-0850-02990-0000
UPID
US18-5278201
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
-
Wood Art Furniture General Contractor
-
Financial Auto Group LLC Car Dealership
-
outcastz custom cycleworks Motorcycle Shop
-
Lil City Lounge Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$375k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$689k
Blend (final)
Blend
$535k
Owner & transaction history
Sibs Development INC · 22 yrs held
Sibs Development INC
since 2004
2 recorded transactions
Zoning & alternative use
L-1 · Bunnell, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$885,000
+35.4%
Industrial (general)
$865,000
+32.6%
Warehouse, storage
$775,000
+18.4%
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 Bunnell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bunnell 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
$375,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$655,000
Current use
AUTO REPAIR, GARAGE
$885,000
Change: +35% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$865,000
Change: +33% · Conversion: Difficult
WAREHOUSE, STORAGE
$775,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$62 / 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
$13,409
Tax year 2023
Assessed value
$604,000
Assessed 2023
Previous assessed
$604,000
+0.0% YoY
Effective rate
2.22%
On assessed value
Assessed improvement
$604,000
Improvement market value
$604,000
Total market value
$604,000
Applied tax rate
14.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Units
1
Total area
8,610 SF
Lot
2.9 ac (126,237 SF)
Zoning code
L-1
APN
10-12-30-0850-02990-0000
UPID
US18-5278201
Jurisdiction
FLAGLER
Zoning & alternative use
L-1 · Bunnell, FL
Zoning L-1 · permitted uses
L-1 · Bunnell, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bunnell. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$885,000
INDUSTRIAL (GENERAL)
Est. value
$865,000
WAREHOUSE, STORAGE
Est. value
$775,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1998
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
2.9 ac
Current owner
From public records · entity-resolved
Sibs Development INC
Entity
Mailing address
3756 S ATLANTIC AVE UNIT #204, DAYTONA BEACH SHORES, FL 32118-7280
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2004
$825,000
Sibs Development INC
Pacyga Development INC
Grant Deed
$380,500 · Pacyga Development INC
—
—
Sibs Dev INC
—
Deed Of Trust
related
$798,086 · Wachovia Bank NA
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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