Commercial Retail Space on Nova
New
For Sale
$299,000
1976 N Nova Road, Daytona Beach, FL 32117
Commercial property suited to office or small retail use along a high-traffic roadway.
Property Size1,116 SF
Days on Market5
Property Features for 1976 N Nova Road
General Information
Standard status
Active
Size
1,116 SF
Property subtype
Retail
Zoning
Commercial
Additional Details
Road Access
Yes
Building Details
Building Size
1,116 SF
Year Built
1956
Listing Agency:
Coldwell Banker Commercial Benchmark Ormond Beach
(386) 795-7060
Listed By:
Bo Bofamy · License #674584
(386) 795-7060
Source:
Cbcworldwide
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 31 at 12:33PM
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 Ormond Beach
Investment Insights
Based on property information with market context.
This commercial retail space was built in 1956 and is positioned for office or small retail use. The property’s roadway setting supports exposure to passing traffic along Nova Road.
Located at 1976 N. Nova Road in Daytona Beach, Florida, the property carries Commercial zoning and is offered for sale. The surrounding corridor is described as busy and high traffic, providing a clear access and visibility characteristic for prospective users.
Located at 1976 N. Nova Road in Daytona Beach, Florida, the property carries Commercial zoning and is offered for sale. The surrounding corridor is described as busy and high traffic, providing a clear access and visibility characteristic for prospective users.
Key Highlights
- Commercial zoning
- Office or small retail use
- Located on Nova Road in Daytona Beach, FL
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
$10,511
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
3.52%
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%
$210,220
$210.2K
Cap Rate 7%
$150,157
$150.2K
Cap Rate 9%
$116,789
$116.8K
Market Conditions
NOI Build-Up for 1,116 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
$16.7K $15.00/SF
− Vacancy
−$1.7K −$1.55/SF
EGI
$15.0K $13.46/SF
− OpEx
−$4.5K −$4.04/SF
NOI
$10.5K $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 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%
$210,220
Cap Rate 7%
$150,157
Cap Rate 9%
$116,789
Alternative Uses
Best Use
Retail
$150.2K
$131.4K – $175.2K
NOI $10,511 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$329.1K
$287.9K – $383.9K
NOI $23,034 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 58%
Shops & Services 42%
Walmart Neighborhood Market
Groceries
37,468 visits/mo
0.1 miles
Murphy USA
Shops & Services
10,183 visits/mo
0.1 miles
Dollar General
Shops & Services
6,382 visits/mo
0.4 miles
7-Eleven
Shops & Services
4,861 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
4,059 visits/mo
0.3 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
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property suited to office or small retail use along a high-traffic roadway.
Where is this retail space located?
The property is located at 1976 N Nova Road Daytona Beach, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Commercial zoning; Office or small retail use; Located on Nova Road in Daytona Beach, FL
