150 Nova RdOrmond Beach, FL 32174

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

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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,894,910

  6.5%

  $5,441,450

  7%

  $5,052,780

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,524,880

  Geo Method

  $3,524,880

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,590,800

  Mixed-Use / Specialty

  $5,430,370

  Hospitality / Lodging

  $3,994,920

  Office

  $5,406,770

  Institutional / Educational

  $5,648,370

  Residential Income

  $6,608,590

  Multifamily

  $7,879,880

  Automotive / Energy

  $4,841,460

  Parking / Income-Based Land

  $1,662,510

  Restaurant / Food Service

  $2,842,130

  Healthcare / Senior Housing

  $5,560,210

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

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