Industrial Warehouse with Secure
For Sale
$1,350,000
974 S Nova Road, Ormond Beach, FL 32174
COMMERCIAL - Ormond Beach, FL
Property Size5,650 SF
Lot Size0.89 Acres
Price / SF$238.94
Days on Market147
Property Features for 974 S Nova Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage, Parking Lot, Secured
Security features
Security System
Fencing
Chain Link
Lot features
Cleared
Directions
From Granada Blvd (Rte 40), go South. Go past the light at Fleming Ave and the building will be on the right.
Subdivision
42 - LPGA to Granada, W of Nova & E of 95
Standard status
Active
APN
4242-04-06-0213
Size
5,650 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 100 FT OF S 200 FT N OF ARROYA PKWY W OF NOVA RD LOT 21 BLK 6 FLEMING FITCH GRANT MB 1 PG 1 PER OR 1810 PG 300 PER OR 6842 PG 0905 PER OR 6960 PG 1016 PER OR 7155 PG 1802
Tax Annual Amount
6867
Legal Description
N 100 FT OF S 200 FT N OF ARROYA PKWY W OF NOVA RD LOT 21 BLK 6 FLEMING FITCH GRANT MB 1 PG 1 PER OR 1810 PG 300 PER OR 6842 PG 0905 PER OR 6960 PG 1016 PER OR 7155 PG 1802
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
employee breakroom
Building Details
Year built
1976
Floors in Building
2
Flooring type
Tile
Building materials
Block
Listing Agency:
Adams, Cameron & Co., Realtors
(386) 673-2100
Listed By:
Toni Wright
(386) 290-5146
Added: Mar 20
Changed: Aug 4
Last Checked: Aug 13 at 2:06AM
MLS# 1224399
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 concrete block industrial facility was built in 1976 and has a massive freestanding walk-in vault. The property includes a high-clearance warehouse area and a climate-controlled office portion, plus a dedicated employee breakroom and a second-story executive area. A new roof is scheduled prior to closing. Interior space also includes structural framing for additional private offices, supporting future build-out needs.
The layout is designed for easy movement, with drive-through accessibility and two separate entry points via Nova Road and Arroyo Parkway. Behind the building, the secure yard is fully cleared and fenced.
Overall building area is approximately 5,650 square feet, including about 3,350 square feet of high-clearance warehouse space and about 2,300 square feet of climate-controlled office space. The secure yard totals about 20,000 square feet. The property is located at 974 S Nova Road in Ormond Beach, Florida, in Volusia County.
The layout is designed for easy movement, with drive-through accessibility and two separate entry points via Nova Road and Arroyo Parkway. Behind the building, the secure yard is fully cleared and fenced.
Overall building area is approximately 5,650 square feet, including about 3,350 square feet of high-clearance warehouse space and about 2,300 square feet of climate-controlled office space. The secure yard totals about 20,000 square feet. The property is located at 974 S Nova Road in Ormond Beach, Florida, in Volusia County.
Key Highlights
- Concrete block building built in 1976 with approx. 5,650 SF total: 3,350 SF high‑clearance warehouse and 2,300 SF climate‑controlled office
- Drive‑through accessibility with two separate entry points via Nova Road and Arroyo Parkway
- Massive freestanding walk‑in vault; property originally commissioned as a high‑security federal cash depository and armored car hub
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
$84,665
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
6.27%
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%
$1,693,300
$1.7M
Cap Rate 7%
$1,209,500
$1.2M
Cap Rate 9%
$940,722
$940.7K
Market Conditions
NOI Build-Up for 5,650 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
$122.0K $21.60/SF
− Vacancy
−$9.2K −$1.62/SF
EGI
$112.9K $19.98/SF
− OpEx
−$28.2K −$5.00/SF
NOI
$84.7K $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%
$1,693,300
Cap Rate 7%
$1,209,500
Cap Rate 9%
$940,722
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.41M
NOI $84,665 @ 7.0% cap · market cap 6.27%
Second Best
Flex RnD
$910.2K
$796.4K – $1.06M
NOI $63,712 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,616 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Concrete block industrial facility with high-clearance warehouse, climate-controlled office, and a fenced, cleared secure yard.
Where is this flex space located?
The property is located at 974 S Nova Road Ormond Beach, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Concrete block building built in 1976 with approx. 5,650 SF total: 3,350 SF high‑clearance warehouse and 2,300 SF climate‑controlled office; Drive‑through accessibility with two separate entry points via Nova Road and Arroyo Parkway; Massive freestanding walk‑in vault; property originally commissioned as a high‑security federal cash depository and armored car hub
