Multi-Suite Shopping
1757 N Nova Rd, Holly Hill, FL 32117
For Sale
New
$5,950,000
The property offers 33 suites, multiple access points, and exposure along N Nova Road.
Property Size38,020 SF
Lot Size4.63 Acres
Price / SF$156.50
Days on Market3
Property Features for 1757 N Nova Rd
General Information
Standard status
Size
Lot size
Property subtype
Net Operating Income
Additional Details
Road Access
Tenant in Place
Amenities
Significant Value-Add: Substantial upside through the lease-up of vacant spaces and increasing rents closer to market, creating opportunities for increased cash flow and long-term appreciation
Attractive Entry Point: Offered at just $156.50 per square foot, below replacement cost for an asset of this size in a growing market.
Strong Projected Returns: Significant potential for NOI growth, increasing from approximately $190,362 to a projected Year 2 NOI of $483,453, representing an attractive 8.13% pro forma cap rate.
Flexible Multi-Tenant Configuration: Comprised of 33 individual suites, offering flexibility to accommodate a diverse mix of tenants and capitalize on leasing opportunities within a market with just 4.5% vacancy.
Excellent Visibility & Accessibility: Strategically positioned along N Nova Road with traffic counts exceeding 34,000 VPD, multiple points of ingress and egress, and strong frontage along a well-established commercial corridor.
Established Retail Corridor: Surrounded by national and regional retailers including Publix, Marshalls, Ross Dress for Less, Bealls, Dollar General, and Ace Hardware, benefiting from an established consumer base and complementary retail activity.
Strong Surrounding Demographics: Approximately 232,791 residents within five miles and an average household income of $73,799 within one mile, supporting demand for retail goods and services.
Growing Daytona Beach Market & Major Economic Drivers: Benefiting from the region's tourism industry and continued investment, including Daytona International Speedway's approximately 1.2 million annual visitors, Daytona Beach International Airport, and AdventHealth Daytona Beach's $220 million hospital expansion.
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Marcus & Millichap - Orlando
Listed By:
Tarek Chbeir · License #License(s): FL: SL3449535
(407) 557-3834
Source:
Marcusmillichap
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 2:52PM
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 Marcus & Millichap - Orlando
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2000, this 38,020-square-foot shopping center occupies 4.63 acres and contains 33 individual suites. Multiple points of ingress and egress serve the property, with access from N Nova Road in Holly Hill, Florida.
The surrounding retail corridor includes Publix, Marshalls, Ross Dress for Less, Bealls, Dollar General, and Ace Hardware. The property is within five miles of a population of 232,791, and the reported traffic count exceeds 34,000 vehicles per day.
The center has a reported 8.13% pro forma cap rate. The greater Daytona Beach area includes Daytona International Speedway, Daytona Beach International Airport, and AdventHealth Daytona Beach, which is undergoing a hospital expansion.
The surrounding retail corridor includes Publix, Marshalls, Ross Dress for Less, Bealls, Dollar General, and Ace Hardware. The property is within five miles of a population of 232,791, and the reported traffic count exceeds 34,000 vehicles per day.
The center has a reported 8.13% pro forma cap rate. The greater Daytona Beach area includes Daytona International Speedway, Daytona Beach International Airport, and AdventHealth Daytona Beach, which is undergoing a hospital expansion.
Key Highlights
- 38,020‑square‑foot shopping center on 4.63 acres
- 33 individual suites
- Built in 2000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$358,091
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,161,820
$7.2M
Cap Rate 7%
$5,115,586
$5.1M
Cap Rate 9%
$3,978,789
$4.0M
Market Conditions
NOI Build-Up for 38,020 SF
Gross rent
$570.3K $15.00/SF
− Vacancy
−$58.7K −$1.55/SF
EGI
$511.6K $13.46/SF
− OpEx
−$153.5K −$4.04/SF
NOI
$358.1K $9.42/SF
Area
Volusia County, FL
Vacancy
10.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,161,820
Cap Rate 7%
$5,115,586
Cap Rate 9%
$3,978,789
Alternative Uses
Best Use
Retail
$5.12M
$4.48M – $5.97M
NOI $358,091 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.21M
$9.81M – $13.08M
NOI $784,733 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
84k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Groceries 29%
Dining 12%
Apparel 10%
Winn-Dixie
Groceries
24,205 visits/mo
0.3 miles
Goodwill
Apparel
8,759 visits/mo
0.4 miles
Mobil
Shops & Services
7,586 visits/mo
0.4 miles
Family Dollar
Shops & Services
7,462 visits/mo
0.5 miles
7-Eleven
Shops & Services
6,524 visits/mo
0.4 miles
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
$175,500
Median Home Value
Market
Average Price Trend$/SF for Shopping centers in Volusia County, FL
Properties on Market for Shopping centers in Volusia County
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Coin Cloud Bitcoin ATM — 1106 Derbyshire Rd, Holly Hill, FL 32117
- Coinstar Kiosk | Bitcoin ATM — Winn Dixie, 1541 N Nova Rd, Daytona Beach, FL 32117
- Holly Hill Plaza — 1595 N Nova Rd, Holly Hill, FL 32117
- Shoppes of Holly Hill — 1609 N Nova Rd, Holly Hill, FL 32117
Frequently Asked Questions
What type of property is this?
Shopping center - The property offers 33 suites, multiple access points, and exposure along N Nova Road.
Where is this shopping center located?
The property is located at 1757 N Nova Rd Holly Hill, FL.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 38,020‑square‑foot shopping center on 4.63 acres; 33 individual suites; Built in 2000
