Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Former Bank Building For Sale Title is generated by Realmo AI

    201 S Nova Road, Ormond Beach, FL 32174

    View on Map
    Picture of Office buildings at 201 S Nova Road, Ormond Beach, FL
    For Sale
    $3,400,000

    Former Bank For Sale/Lease

    Property size:
    5,060 SF
    Price / SF:
    $671/SF
    Added:
    May 16, 2025
    Days on Market:
    379
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 201 S Nova Road

    General Information

    Standard status
    Active
    Property type
    Office buildings, Bank owned properties, Office Spaces, Investment properties
    Size
    5,060 SF
    Class
    A
    Elevators
    N/A

    Building Details

    Year Built
    1990
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Michael Baxter

    Listing agent Michael License #SL3451680

    Listing office SVN | Alliance Commercial Real Estate Advisors

    Listing date May 16, 2025

    Overview

    The property is a 5,060 square foot former bank building. It features three drive-thru lanes and a large monument sign situated on high-traffic Nova Road. The location is in Ormond Beach, Florida, on Nova Road, south of West Granada Boulevard and approximately 3 miles from I-95. The property is located across the street from Dunkin' and less than half a mile south of Granada Boulevard.
    Property Profile Location Intelligence

    Current Use by Public Records

    BB&T ATM Atm BB&T Mortgage Loan Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0829064
    Latitude
    29.2787071

    Nearby Similar for Sale

    • $585,000
      2,704 SF

      Ormond Beach Commercial Investment Opportunity

      Fully leased retail/office building with high visibility and traffic.
      325 S Yonge Street, Ormond Beach, FL 32174
      View Details
    • $549,900
      747 SF

      Ormond Beach Commercial Investment Opportunity

      Freestanding commercial office property on US Highway 1.
      305 N U.S. Highway 1, Ormond Beach, FL 32174
      View Details
    • $2,800,000
      41,436 SF

      Ormond Beach Commercial Campus Opportunity

      Sprawling 41,000+ SF campus on 2.6 acres in Ormond Beach.
      54 S Ridgewood Avenue, Ormond Beach, FL 32174
      View Details
    • $1,300,000
      5,650 SF

      Ormond Beach Commercial Property For Sale

      Versatile commercial property with high-security features and expansion potential.
      974 S Nova Road, Ormond Beach, FL 32174
      View Details
    • $650,000
      2,400 SF

      Ormond Beach Sports Bar Opportunity

      Sports bar business with 4COP liquor license in Ormond Beach.
      1350 Ocean Shore Boulevard, Ormond Beach, FL 32176
      View Details
    • $1,699,000
      2,175 SF

      Ormond Beach Medical/Professional Office

      Iconic medical/professional office in central Ormond Beach Boulevard District.
      750 W Granada Boulevard, Ormond Beach, FL 32174
      View Details
    • $519,000
      2,640 SF

      Ormond Beach Duplex For Sale

      Turn-key investment opportunity in a prime Ormond Beach location.
      47 & 49 Sandpiper Circle, Ormond Beach, FL 32174
      View Details
    • $3,800,000
      4,077 SF

      Ormond Beach Commercial Oceanfront Property

      Updated 4,077 SF restaurant on 0.87-acre corner lot.
      790 S Atlantic Avenue, Ormond Beach, FL 32176
      View Details
    • $140,000
      766 SF

      Ormond Beach Commercial Office Space

      First-floor office space in Boulevard Executive Park, Ormond Beach.
      555 W Granada Boulevard, Ormond Beach, FL 32174
      View Details
    • $810,262
      6,725 SF

      Ormond Beach Retail Investment Opportunity

      Well-maintained, fully occupied retail building in Ormond Beach, Florida.
      401 N Us Highway 1, Ormond Beach, FL 32174
      View Details
    • $799,000
      3,436 SF

      Ormond Beach Automotive Commercial Property

      High-traffic corner lot ideal for automotive sales, service, or repair.
      82 N Yonge Street, Ormond Beach, FL 32174
      View Details
    • $5,950,000
      22,500 SF

      Ormond Beach Warehouses with Business

      Two warehouses with established business, equipment, and ongoing projects.
      4 & 6 Aviator Way, Ormond Beach, FL 32174
      View Details

    FAQs

    What type of property is this?
    Office building - Former Bank For Sale/Lease
    Where is this office building located?
    The property is located at 201 S Nova Road Ormond Beach, FL.
    What is the asking price?
    The asking price for this property is $3,400,000.
    (386) 999-1762
    We can help!
    Listing Contact
    Michael Baxter
    Real Estate License ID: SL3451680
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    201 S. Nova Road, Ormond Beach, FL 32174
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!