Flex Building with Owner-Occupancy
For Sale
$1,899,000
1396 N NOVA ROAD, Daytona Beach, FL 32117
Block construction supports a combination of front retail and rear warehouse functions with a roll-up door.
Property Size12,600 SF
Price / SF$150.71
Days on Market129
Property Features for 1396 N NOVA ROAD
General Information
Standard status
Active
Size
12,600 SF
Property subtype
Commercial
Zoning
01B5
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$13,479
Amenities
digital sign
roll-up door
Building Details
Building Size
12,600 SF
Year Built
1981
Buildings
1
Stories
1
Units
4
Construction
block
Tenancy
Multi
Listing Agency:
ADAMS, CAMERON & CO., REALTORS
(386) 852-7932
Listed By:
Daniel Lyonnais · License #3196672
(386) 852-7932
Source:
Mbifloridarealty
Added: Apr 7
Changed: Aug 7
Last Checked: Aug 7 at 2:17AM
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 ADAMS, CAMERON & CO., REALTORS
Investment Insights
Based on property information with market context.
This 12,600-square-foot flex building at 1396 N Nova Road in Daytona Beach was constructed in 1981 with block walls and concrete truss ceilings. The configuration originally included 16 self-contained spaces and supports front retail areas paired with rear warehouse space, including a roll-up door. Recent work includes sealing the TPO roof, adding soffit lighting, completing paint touch-ups, and installing a digital sign.
The property is currently 100% leased, while up to 3,900 square feet may be available for owner occupancy. It is located in the Volusia County Unincorporated Area and carries 01B5 zoning. The combination of existing leases, divisible space, and varied interior functionality supports both continued occupancy and an operating-user configuration.
The property is currently 100% leased, while up to 3,900 square feet may be available for owner occupancy. It is located in the Volusia County Unincorporated Area and carries 01B5 zoning. The combination of existing leases, divisible space, and varied interior functionality supports both continued occupancy and an operating-user configuration.
Key Highlights
- 12,600 SF block construction flex building
- Currently 100% leased
- Owner occupancy available for up to 3,900 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$142,083
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,841,660
$2.8M
Cap Rate 7%
$2,029,757
$2.0M
Cap Rate 9%
$1,578,700
$1.6M
Market Conditions
NOI Build-Up for 12,600 SF
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.
Gross rent
$238.9K $18.96/SF
− Vacancy
−$20.3K −$1.61/SF
EGI
$218.6K $17.35/SF
− OpEx
−$76.5K −$6.07/SF
NOI
$142.1K $11.28/SF
Area
Volusia County, FL
Vacancy
8.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,841,660
Cap Rate 7%
$2,029,757
Cap Rate 9%
$1,578,700
Alternative Uses
Best Use
Flex RnD
$2.03M
$1.78M – $2.37M
NOI $142,083 @ 7.0% cap · market cap 7.48%
Second Best
Retail
$1.70M
$1.48M – $1.98M
NOI $118,673 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$3.72M
$3.25M – $4.33M
NOI $260,064 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
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 - Block construction supports a combination of front retail and rear warehouse functions with a roll-up door.
Where is this flex space located?
The property is located at 1396 N NOVA ROAD Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 12,600 SF block construction flex building; Currently 100% leased; Owner occupancy available for up to 3,900 SF
