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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    198 Nova Rd Ormond Beach, FL 32174-6115

    • Investment properties
    • 2,464 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Jun 14, 2023
    $670,000
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    9.1%
    Investment properties
    Location Intelligence
    Property ID
    US18-3322309
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • New Roots Dentistry / Dental Office
    • Lisa Reeley- Realtor / Real Estate Agency
    • Tyler Property Management / Property Management Company
    • Stephen Chicurel-Stein / Real Estate Agency

    Property Details for 198 Nova Rd

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.35 lot acres
    Property size
    2,464 SF
    Zone code
    B1
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    4220-09-00-0010
    APU
    422009000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $520,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $505,000
      6.5%
      $470,000
      7%
      $435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $793,000
      Market price range: $191k - $935k
      AI Estimate
      $590,000
      Market price range: $166k - $590k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $410,000
      Current use
      MEDICAL BUILDING
      $640,000
      Change: +56% Conversion: Easy
      AUTO REPAIR, GARAGE
      $610,000
      Change: +49% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $440,000
      Change: +8% Conversion: Difficult
      RETAIL STORES
      $390,000
      Change: -5% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0832
    Latitude
    29.274
    CBSA code
    19660
    CBSA name
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,157
    $92,559
    $406,971
    $499,530
    -
    $92,559
    $406,971
    $499,530

    Comparable in this City

    • Value Estimation
      $1,040,000
      9,038 SF

      150 Beach St Sta, Unit A

      STORE/OFFICE (MIXED USE) • 9,038 SF
      150 Beach St Sta, Ormond Beach, FL 32174-6373
      View Details
    • Value Estimation
      $3,915,000
      22,500 SF

      15 Tower Cir

      STORE/OFFICE (MIXED USE) • 22,500 SF
      15 Tower Cir, Ormond Beach, FL 32174-8762
      View Details
    • Value Estimation
      $1,030,000
      6,720 SF

      560 Yonge St

      STORE/OFFICE (MIXED USE) • 6,720 SF
      560 Yonge St, Ormond Beach, FL 32174-7540
      View Details
    • Value Estimation
      $5,295,000
      29,983 SF

      1446 Granada Blvd

      STORE/OFFICE (MIXED USE) • 29,983 SF
      1446 Granada Blvd, Ormond Beach, FL 32174-9141
      View Details
    • Value Estimation by Request
      766 SF

      555 Granada Blvd Ste F5

      STORE/OFFICE (MIXED USE) • 766 SF
      555 Granada Blvd Ste F5, Ormond Beach, FL 32174-9405
      View Details
    • Value Estimation by Request
      766 SF

      555 Granada Blvd Ste C6

      STORE/OFFICE (MIXED USE) • 766 SF
      555 Granada Blvd Ste C6, Ormond Beach, FL 32174-9493
      View Details

    Similar Nearby for Sale

    • $550,000

      Ormond Beach Commercial Outparcel

      Prime Publix-anchored location, 1.11 acres.
      3735 Roscommon Dr, Ormond Beach, FL 32174
      View Details
    • $599,999
      1,500 SF

      Ormond Beach Commercial Property

      Mixed-use, 1,500 sq ft, prime location
      222 Hernandez Ave, Ormond Beach, FL 32174
      View Details
    • New
      $300,000
      10.30 Acres

      Versatile Land with Workshop, Ormond Beach

      10.3 acres with workshop, pond, and treehouse near Ormond Beach.
      245 Carter Trl, Ormond Beach, FL 32174
      View Details
    • $430,000
      1,176 SF

      Ormond Beach Mixed-Use Investment

      Prime Ormond Beach commercial property, high visibility.
      203 Yonge St, Ormond Beach, FL 32174
      View Details
    • $350,000

      Prime Ormond Beach Commercial Land

      Waterfront lot, 78,408 sq ft, $350,000
      1725 Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $1,300,000
      5,650 SF

      Ormond Beach Mixed-Use Property

      Prime Location, Versatile Space, High Returns
      974 Nova Rd, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      7,500 SF

      Ormond Beach Industrial Warehouse

      7,500 SF Flex Space, Prime Location
      912 Nova Rd, Ormond Beach, FL 32174
      View Details
    • Contact for pricing
      1,366 SF

      Commercial Condo in MBA Business Center

      Commercial condo for sale or lease with highway signage.
      1437 N Us Highway 1, Ormond Beach, FL 32174
      View Details
    • $21 SF/Yr
      33,368 SF

      Retail & Office Space Available

      Retail and office space for lease in South Forty Plaza.
      1112 W Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $13 SF/Yr
      5,000 SF

      Ormond Beach Flex Space Available

      5,000 SF flex space for rent in Ormond Beach.
      1280 Hand Ave, Ormond Beach, FL 32174
      View Details
    • $2,877 /Mo
      1 SF

      Renovated Office Space in Ormond

      Newly renovated 1,360 sqft office space in Ormond Beach.
      1400 Hand Ave, Ormond Beach, FL 32174
      View Details
    • $6,167 /Mo
      36,582 SF

      Ormond Beach Professional Plaza Space

      Professional plaza with multiple units available in Ormond Beach.
      410 S Nova Rd, Ormond Beach, FL 32174
      View Details
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    198 Nova Rd
    Ormond Beach, FL 32174-6115
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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
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