Veterinary Hospital With Corporate
For Sale
Contact for pricing
750 South Nova Road, Ormond Beach, FL 32174
Full-service veterinary hospital with direct street frontage and a corporate guaranty under the current lease structure.
Property Size3,438 SF
Price / SF$508.60
Days on Market145
Property Features for 750 South Nova Road
General Information
Standard status
Active
Size
3,438 SF
Class
A
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$122,400
Additional Details
Business Included
Yes
Traffic Count
34,000 vehicles/day
Building Details
Year Built
1974
Year Renovated
2023
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Cameron Davodi · License #CA - 02237200
(310) 483-2633
Source:
Crexi
Added: Apr 16
Changed: Sep 6
Last Checked: Sep 6 at 8:04PM
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 Matthews
Investment Insights
Based on property information with market context.
This full-service veterinary hospital offers a comprehensive range of care, including wellness examinations, vaccinations, surgery, spay and neuter, microchipping, laser therapy, dentistry, endoscopy, digital X-rays, ultrasound, and glaucoma testing. The property is approximately 3,400 SF and includes significant improvements completed in 2023, including a redesigned reception area, updated bathrooms, new flooring and paint, and electrical and plumbing upgrades. Capital work also included a fully repaved parking lot and new signage.
The facility is positioned directly off S Nova Rd with direct street frontage along a high-traffic corridor, with the remarks citing more than 34,000 vehicles per day.
The current lease includes just under 9 years remaining, with one (1) five (5) year option to extend and 2% annual rental increases. The lease is supported by a corporate guaranty from Mission Pet Health.
The facility is positioned directly off S Nova Rd with direct street frontage along a high-traffic corridor, with the remarks citing more than 34,000 vehicles per day.
The current lease includes just under 9 years remaining, with one (1) five (5) year option to extend and 2% annual rental increases. The lease is supported by a corporate guaranty from Mission Pet Health.
Key Highlights
- ±3,400 SF full‑service veterinary hospital with direct street frontage directly off S Nova Rd
- Practice services include wellness exams, vaccinations, surgery (spay/neuter), microchipping, laser therapy, dentistry, endoscopy, digital X‑rays, ultrasound, and glaucoma testing
- Lease has just under 9 years remaining plus a 1 (five‑year) option to extend
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
$50,015
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
2.86%
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%
$1,000,300
$1.0M
Cap Rate 7%
$714,500
$714.5K
Cap Rate 9%
$555,722
$555.7K
Market Conditions
NOI Build-Up for 3,438 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
$92.8K $27.00/SF
− Vacancy
−$9.5K −$2.75/SF
EGI
$83.4K $24.25/SF
− OpEx
−$33.3K −$9.70/SF
NOI
$50.0K $14.55/SF
Area
Volusia County, FL
Vacancy
10.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,000,300
Cap Rate 7%
$714,500
Cap Rate 9%
$555,722
Alternative Uses
Best Use
Healthcare Medical
$714.5K
$625.2K – $833.6K
NOI $50,015 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$887.0K – $1.18M
NOI $70,960 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
34,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Full-service veterinary hospital with direct street frontage and a corporate guaranty under the current lease structure.
Where is this medical center located?
The property is located at 750 South Nova Road Ormond Beach, FL.
What is the asking price?
The asking price for this property is $1,748,571.
What are key features of this property?
This property features: ±3,400 SF full‑service veterinary hospital with direct street frontage directly off S Nova Rd; Practice services include wellness exams, vaccinations, surgery (spay/neuter), microchipping, laser therapy, dentistry, endoscopy, digital X‑rays, ultrasound, and glaucoma testing; Lease has just under 9 years remaining plus a 1 (five‑year) option to extend
