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    720 S Nova Road Ormond Beach, FL 32174

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    New
    For Lease
    $3,531/Mo $18 SF/Yr (calc)

    COMMERCIAL - Ormond Beach, FL

    Property size:
    2,260 SF
    Lot size:
    3.00 Acres
    Added:
    Apr 21, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 22 at 8:06 am

    Property Features for 720 S Nova Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Driveway, Gated, Parking Lot, RV
    Security features
    Security Lighting
    Standard status
    Active
    APN
    4242-03-04-0150
    Size
    2,260 SF
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    E 418.20 FT W OF NOVA RD OF N 492.46 FT S OF HAND AVE IN LOTS 14 & 15 BLK 4 HAND TRACT OF THE FITCH GRANT DB P PG 1 EXC E 275 FT OF N 275 FT PER OR 4447 PG 1371 & OR 6885 PG 0600 PER OR 7751 PG 2213
    Tax Annual Amount
    28916

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2000
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Block, Metal Siding

    We can help!

    Listing Contact
    Scott Harter
    Scott Harter

    Listing agent Scott Harter

    Listing office Coldwell Banker Commercial Benchmark 570 Memorial Cir Suite 300, Ormond Beach, FL

    Listing date Apr 21, 2026

    MLS# 1225497

    Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Ormond Beach Commercial Space Available

    This commercial space in Ormond Beach, Florida, offers 2260 square feet with dedicated outside storage on the west side of the building and 15 parking spaces. An additional approximately 30,000 square feet of concrete parking lot is available for an extra $0.75 per square foot. The property, zoned B-5 commercial, is completely fenced and gated. The space features a full drive-through bay with two 16x16 doors, another bay with one 10x10 door, two walk-in doors, and a 285 square foot office with a bathroom. The ceilings are 26 feet high. The NNN lease includes electric and water. Ingress and egress are accessible from both Nova Road and Hand Avenue. The property is located directly behind Honest-1 Auto Care. Leases are available for 3 to 5 years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Honest-1 Auto Care Auto Repair Shop U-Haul Neighborhood Dealer Car Rental Facility Lifesafer Ignition Interlock Factory

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Vicenia Auto Sales — 1020 S Nova Rd, Ormond Beach, FL 32174
    • Top Cat Automotive — 1026 S Nova Rd, Ormond Beach, FL 32174
    • Ormond Repair & Collision Center — holly hill, fl 32117
    • Jiffy Food Store — 986 S Nova Rd, Ormond Beach, FL 32174
    • County Tire — 1130 S Nova Rd, Ormond Beach, FL 32174

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.077394
    Latitude
    29.261897

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    FAQs

    What type of property is this?
    Auto shop - 2260 SF commercial space with outside storage and ample parking.
    Where is this auto shop located?
    The property is located at 720 S Nova Road Ormond Beach, FL.
    What is the lease rate?
    The lease rate is $3,531 /Mo.
    What are key features of this property?
    This property features: 2260 sf building with **26‑foot high ceilings** and dedicated outside storage.; **Full drive‑through bay with two 16x16 doors**, plus an additional bay with a 10x10 door.; Completely fenced and gated property with 15 parking spaces.
    (386) 672-8530
    We can help!
    Listing Contact
    Scott Harter
    Scott Harter
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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