Multi-Purpose Flex Property For
For Sale
$999,000
Pending
1010 S Nova Road, Ormond Beach, FL 32174
Flex property with warehouse, showroom, and storage/parking area.
Property Size5,000 SF
Lot Size0.74 Acres
Days on Market540
Property Features for 1010 S Nova Road
General Information
Standard status
Pending
Size
5,000 SF
Lot size
0.74 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1980
Listing Agency:
Coldwell Banker Commercial Benchmark
(386) 882-3230
Listed By:
David Galt · License #3243843
(386) 882-3230
Source:
Exitrealty
Added: Feb 6, 2025
Changed: Jul 6
Last Checked: Jul 23 at 4:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Benchmark
Investment Insights
Based on property information with market context.
This multi-purpose flex property is located at the southwest corner of Arroyo Parkway and Nova Road. It features a gated and fenced area of approximately 19,000 square feet, currently utilized for boat, RV, trailer, and U-Haul storage and parking, with access from both Arroyo Parkway and Nova Road. The building encompasses 5,000 square feet, including approximately 2,500 square feet of warehouse or shop space with a roll-up door at the rear. The front of the building offers an 1,800+ square foot showroom or retail area, along with two offices of 130+ square feet each, and a break room with two restrooms. Utilities include Phase 3 electric and Daytona City water. The county zoning is Light Industrial, and the property has an Ormond Beach address.
Key Highlights
- +/-19,000 SF gated & fenced area ideal for Boat/RV/Trailer & U‑Haul storage & parking.
- Features a 5,000 SF building with warehouse/shop space and showroom/retail area.
- High‑traffic location at the SW corner of Arroyo Pkwy and Nova Rd.
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.8k | $18.96 |
| − Vacancy | −$8.1k | −$1.61 |
| EGI | $86.7k | $17.35 |
| − OpEx | −$30.4k | −$6.07 |
| NOI | $56.4k | $11.28 |
5,000 SF · lease $18.96/SF/yr · vacancy 8.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$805.5K
$704.8K – $939.7K
NOI $56,382 @ 7.0% cap · market cap 5.64%
Second Best
Retail
$672.8K
$588.7K – $784.9K
NOI $47,093 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,200 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property with warehouse, showroom, and storage/parking area.
Where is this flex space located?
The property is located at 1010 S Nova Road Ormond Beach, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: +/-19,000 SF gated & fenced area ideal for Boat/RV/Trailer & U‑Haul storage & parking.; Features a 5,000 SF building with warehouse/shop space and showroom/retail area.; High‑traffic location at the SW corner of Arroyo Pkwy and Nova Rd.
