This exceptional 6.11-acre commercial land parcel presents a remarkable investment opportunity in the thriving city of Holly Hill, Florida. Located at the highly visible southeast corner of Nova Road and Alabama Avenue, this property boasts a strategic location with exceptional visibility and accessibility. The B-4 Highway Business District zoning allows for a wide range of permitted uses, including retail, restaurants, offices, healthcare facilities, and more. A small eastern portion is zoned RPUD (Residential Planned Unit Development). With a maximum FAR of 1.95, this site offers significant development potential. The property benefits from full access from Nova Road, a major thoroughfare with an impressive 29,500 AADT (Average Annual Daily Traffic). The high traffic count ensures maximum exposure for any commercial venture. This prime location offers unparalleled opportunities for businesses seeking high visibility and convenient access to a large customer base. The property's size and zoning make it ideal for a variety of development projects, from single-tenant buildings to multi-tenant complexes. The asking price is $2,250,000. Detailed permitted uses include retail sales and services, personal services, restaurants, child day care centers, schools, administrative and professional offices, hospitals, laboratories, pharmacies, adult congregate living facilities (up to 65 clients per acre), rest and convalescence homes, banks, adult day care centers, new and used car lots, permanent makeup application, and houses of worship. Note that self-storage and car washes would require rezoning. Gas stations are permitted, but fuel pumps must be located at least 80 feet from residentially zoned property and 300 feet from schools. This is a rare opportunity to acquire a significant commercial land parcel in a prime location with excellent growth potential.
Property Features for FL Nova Rd & Alabama Ave Holly Hl
General Information
Property type
Land
Lot Size
266,152 SF
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Listing Contact
Rachel Ealy
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HighLights
$2,250,000 asking price for 6.11 acres of commercial land.
Located at the southeast corner of Nova Road & Alabama Avenue in Holly Hill, Florida (32117), Volusia County.
B‑4 Highway Business District zoning, with a small portion near multifamily zoned RPUD.
6.11‑acre lot with a maximum FAR of 1.95.
High traffic count of 29,500 AADT on Nova Road, providing excellent access.
The property is located at FL Nova Rd & Alabama Ave Holly Hl Ormond Beach, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: $2,250,000 asking price for 6.11 acres of commercial land.; Located at the southeast corner of Nova Road & Alabama Avenue in Holly Hill, Florida (32117), Volusia County.; B-4 Highway Business District zoning, with a small portion near multifamily zoned RPUD.
FL Nova Rd & Alabama Ave Holly Hl Ormond Beach, FL 32117
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FL Nova Rd & Alabama Ave Holly Hl Ormond Beach, FL 32117
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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
FL Nova Rd & Alabama Ave Holly Hl Ormond Beach, FL 32117
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FL Nova Rd & Alabama Ave Holly Hl, Ormond Beach, FL
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FL Nova Rd & Alabama Ave Holly Hl, Ormond Beach, FL
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FL Nova Rd & Alabama Ave Holly Hl, Ormond Beach, FL
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FL Nova Rd & Alabama Ave Holly Hl, Ormond Beach, FL
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to FL Nova Rd & Alabama Ave Holly Hl Ormond Beach, FL 32117
FL Nova Rd & Alabama Ave Holly Hl, Ormond Beach, FL
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