Office Unit with
New
For Sale
$299,000
1976 N Nova Road, Holly Hill, FL 32117
Commercial Sale, Holly Hill, FL
Property Size1,116 SF
Lot Size0.24 Acres
Price / SF$267.92
Days on Market2
Property Features for 1976 N Nova Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot, Driveway
Fencing
Chain Link
Subdivision
Highland Park
Directions
North of Flomich one block +/- on West side of road.
Standard status
Active
APN
4242-19-01-0200
Size
1,116 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
42-14-32 LOTS 20 & 21 EXC PART IN HWY BLK 1 HIGHLAND PARK FITCH GRANT DB 542 PG 30 MB 10 PG 64 PER OR 5345 PG 2487 PER OR 8196 PG 0260 PER OR 8706 PG 3535 PER OR 8785 PG 1340
Tax Annual Amount
1825
Legal Description
42-14-32 LOTS 20 & 21 EXC PART IN HWY BLK 1 HIGHLAND PARK FITCH GRANT DB 542 PG 30 MB 10 PG 64 PER OR 5345 PG 2487 PER OR 8196 PG 0260 PER OR 8706 PG 3535 PER OR 8785 PG 1340
Utilities
Sewer type
Public Sewer
Heating system
Central
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Building materials
Aluminum Siding
Roof type
Aluminum
Listing Agency:
Coldwell Banker Commercial Benchmark
(386) 672-8530
Listed By:
Darrel Bofamy · License #3206656
(386) 795-7060
Added: Aug 24
Last Checked: Aug 25 at 5:06AM
MLS# 1230017
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.
Investment Insights
Based on property information with market context.
This 1,116-square-foot office unit sits on a 0.24-acre parcel and was built in 1956. The property includes a bathroom, central heating, aluminum siding, and an aluminum roof. Parking is provided through a dedicated lot and driveway, while chain-link fencing defines the site.
Located on N Nova Road in Holly Hill, the property is positioned for office use or small-scale retail use. Public sewer serves the site, supporting the existing commercial building configuration.
Located on N Nova Road in Holly Hill, the property is positioned for office use or small-scale retail use. Public sewer serves the site, supporting the existing commercial building configuration.
Key Highlights
- 1,116‑square‑foot office unit on a 0.24‑acre parcel
- Built in 1956 with aluminum siding and an aluminum roof
- Central heating system
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
$16,723
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
5.59%
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%
$334,460
$334.5K
Cap Rate 7%
$238,900
$238.9K
Cap Rate 9%
$185,811
$185.8K
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
$24.1K $21.60/SF
− Vacancy
−$1.8K −$1.62/SF
EGI
$22.3K $19.98/SF
− OpEx
−$5.6K −$5.00/SF
NOI
$16.7K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$334,460
Cap Rate 7%
$238,900
Cap Rate 9%
$185,811
Alternative Uses
Best Use
Office B
$238.9K
$209.0K – $278.7K
NOI $16,723 @ 7.0% cap · market cap 5.59%
Second Best
Retail
$150.2K
$131.4K – $175.2K
NOI $10,511 @ 7.0% cap · market cap 3.52%
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
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Compact office property with central heating, public sewer, and on-site parking areas.
Where is this office units located?
The property is located at 1976 N Nova Road Holly Hill, 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: 1,116‑square‑foot office unit on a 0.24‑acre parcel; Built in 1956 with aluminum siding and an aluminum roof; Central heating system
