1757 Nova RdHolly Hill, FL 32117

Property Details for 1757 Nova Rd

Year built

2000

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.63 AC

Property size (Sq ft)

38,450 SF

Property type

Retail properties

Property subtype

Community centers

APN

4242-04-34-0094

APU

424204340094

Description

This exceptional Holly Hill, Florida commercial property, the Nova Shopping Center, offers a diverse range of retail and office spaces totaling 37,297 square feet. The single-story building features 41 suites, boasting a 98% occupancy rate, with two units occupied by national companies. The property's construction is all structural steel and block, ensuring durability and longevity. Central HVAC is installed throughout, providing climate-controlled comfort. Tenants enjoy the convenience of separately metered electric and sub-metered water. Currently, 10 spaces are available, ranging in size from 100 to 3,000 square feet, catering to various business needs. The building is classified as Class C and includes an elevator for easy access. Its strategic location offers immediate proximity to Tanger Mall and numerous other shopping and dining options, ensuring high visibility and foot traffic. The property's flexible design, including flex warehouses with 12x12 roll-up doors, makes it ideal for a variety of businesses. The property currently houses 42 tenants, demonstrating its strong appeal and established tenant base. This is a rare opportunity to acquire a well-maintained, highly occupied commercial property in a thriving location. The diverse suite sizes and property type (Traditional Office, Medical Office, Creative Office, Executive Office, and Retail) offer significant flexibility for potential tenants and investors.

• CAP approach

  CAP return

  Valuation

  6%

  $9,621,124

  6.5%

  $8,881,037

  7%

  $8,246,678

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,816,277

  Geo Method

  $10,816,277

• Alternative Use

  Use

  Valuation

  Residential

  $7,491,487

  Hospitality

  $6,862,162

  Educational

  $5,709,238

  Medical

  $5,905,588

  Retail

  $8,881,037

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2444

Longitude

-81.0625

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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