150 Nova RdOrmond Beach, FL 32174

  • Retail properties
  • 30,362 SF
For Lease
$14/SF/YR View listing

Property Details for 150 Nova Rd

Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
3.30 AC
Property size (Sq ft)
30,362 SF
Zone code
B8
Property type
Retail properties
Property subtype
Turn key restaurants
APN
4221-00-01-0021
APU
422100010021

Description

This exceptional single-story, 27,889 square foot retail and office building, situated on a 3.3-acre lot in Ormond Beach, Florida, presents a unique investment opportunity. Built in 1985 and zoned D2, the property boasts five suites, with 3,000 square feet currently vacant and ready for immediate occupancy. Ideal for a variety of uses, including coworking spaces, the building offers ample space for businesses seeking flexible and modern work environments. The property's location at 150 N Nova Rd, Ormond Beach, FL 32174, places it within the Daytona Beach submarket, providing excellent access to major transportation routes and a thriving local economy. The property's APN is 422100010021, and it is located in Volusia County. This is a rare chance to acquire a well-located, versatile commercial property in a high-demand area. The building's single-story design offers convenient access and functionality. The substantial vacant space provides significant potential for customization and expansion. This property is perfect for entrepreneurs, established businesses, or investors seeking a strong return on investment in a dynamic market. Don't miss this opportunity to secure a prime location in the Ormond Beach Market Place.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $7,597,310
    6.5%
    $7,012,901
    7%
    $6,511,980
  • Comparable approach

    Method
    Valuation
    Relative Method
    $8,541,061
    Geo Method
    $8,541,061
  • Alternative Use

    Use
    Valuation
    Residential
    $5,915,644
    Hospitality
    $5,418,698
    Educational
    $4,508,294
    Medical
    $4,663,341
    Retail
    $7,012,901
150 Nova Rd, Ormond Beach, Florida

Location Insight

City
Ormond Beach
County
Volusia
State
Florida
Latitude
29.2808
Longitude
-81.0833
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
$42,635
$861,756
$1,749,254
$2,611,010
-
$861,756
$1,749,254
$2,611,010

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