800 Nova RdOrmond Beach, FL 32174

Property Details for 800 Nova Rd

Year built

1981

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.02 AC

Property size (Sq ft)

1,054 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

4242-AG-00-0050

APU

4242AG000050

Description

This exceptional 11,429-square-foot office and retail building presents a compelling value-add opportunity in Ormond Beach, Florida. Situated on a 2.14-acre lot at the signalized intersection of Nova Road and Fleming Avenue, this single-story, multi-tenant property boasts 13 individual office/retail condos, offering significant flexibility for future development. Currently featuring short-term leases, the property presents the potential for consolidation into larger contiguous spaces to suit a buyer's specific needs. The exterior has recently been painted, and the property benefits from a multi-tenant monument sign and individually metered suites. High traffic counts on Nova Road, coupled with over 300 feet of frontage, ensure excellent visibility and accessibility. The property's location offers convenient access to major thoroughfares, including Granada Boulevard (1.4 miles), LPGA Boulevard (1.9 miles), AdventHealth Daytona Beach (3 miles), and Interstate 95 (3.4 miles). The Volusia County B-5 zoning allows for a wide range of permitted uses, including restaurants, retail sales, mini-warehouses, and more, providing considerable versatility for future expansion or repurposing. This property is listed at $1,085,755 ($95 per square foot) and offers a strong return on investment potential. The building was constructed in 1981 and is comprised of one building with one story.

• CAP approach

  CAP return

  Valuation

  6%

  $222,472

  6.5%

  $205,358

  7%

  $190,690

• Comparable approach

  Method

  Valuation

  Relative Method

  $182,370

  Geo Method

  $182,370

• Alternative Use

  Use

  Valuation

  Residential

  $205,358

  Hospitality

  $188,107

  Educational

  $156,503

  Medical

  $161,885

  Retail

  $243,449

Location Insight

City

Ormond Beach

County

Volusia

State

Florida

Latitude

29.2593

Longitude

-81.0755

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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