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    Property profile & analytics

    550 Nova Rd Ormond Beach, FL 32174-4401

    • Investment properties
    • 2,794 SF
    • 28.11 lot acres
    OFF-MARKET
    Value Estimations
    $625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5561255
    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

    • Volusia Memorial Park / Cemetery / Memorial Park

    Property Details for 550 Nova Rd

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    28.11 lot acres
    Property size
    2,794 SF
    Zone code
    B1
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    4217-00-00-0020
    APU
    421700000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $575,000
      6.5%
      $530,000
      7%
      $495,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $669,000
      Market price range: $189k - $670k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $465,000
      Current use
      MEDICAL BUILDING
      $725,000
      Change: +56% Conversion: Easy
      AUTO REPAIR, GARAGE
      $695,000
      Change: +49% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $500,000
      Change: +8% Conversion: Difficult
      RETAIL STORES
      $440,000
      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
    -81.0889
    Latitude
    29.2903
    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
    $12,984
    $1,229,250
    $1,829,112
    $3,058,362
    -
    $1,229,250
    $1,829,112
    $3,058,362

    Comparable in this City

    • Value Estimation by Request
      710 SF

      555 Granada Blvd Ste G5

      STORE/OFFICE (MIXED USE) • 710 SF
      555 Granada Blvd Ste G5, Ormond Beach, FL 32174-9408
      View Details
    • Value Estimation by Request
      714 SF

      555 Granada Blvd Ste G3

      STORE/OFFICE (MIXED USE) • 714 SF
      555 Granada Blvd Ste G3, Ormond Beach, FL 32174-9407
      View Details
    • Value Estimation
      $2,720,000
      14,490 SF

      555 Granada Blvd Ste B1

      STORE/OFFICE (MIXED USE) • 14,490 SF
      555 Granada Blvd Ste B1, Ormond Beach, FL 32174-9489
      View Details
    • Value Estimation by Request
      766 SF

      555 Granada Blvd Ste B9

      STORE/OFFICE (MIXED USE) • 766 SF
      555 Granada Blvd Ste B9, Ormond Beach, FL 32174-9491
      View Details
    • Value Estimation by Request
      714 SF

      555 Granada Blvd Ste E3

      STORE/OFFICE (MIXED USE) • 714 SF
      555 Granada Blvd Ste E3, Ormond Beach, FL 32174-9401
      View Details
    • Value Estimation
      $2,720,000
      11,342 SF

      900 Granada Blvd

      STORE/OFFICE (MIXED USE) • 11,342 SF
      900 Granada Blvd, Ormond Beach, FL 32174-5941
      View Details

    Similar Nearby for Sale

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      Ormond Beach Mixed-Use Investment

      Prime Ormond Beach commercial property, high visibility.
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      Prime Ormond Beach Commercial Land

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      Ormond Beach Mixed-Use Property

      Prime Location, Versatile Space, High Returns
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    Similar Nearby for Lease

    • $13 SF/Yr
      7,500 SF

      Ormond Beach Industrial Warehouse

      7,500 SF Flex Space, Prime Location
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    • Contact for pricing
      1,366 SF

      Commercial Condo in MBA Business Center

      Commercial condo for sale or lease with highway signage.
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    • $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
    • $25 SF/Yr
      2,450 SF

      Retail Space High-Traffic Intersection

      Retail space available at high-traffic intersection of West Granada.
      110-160 S Nova Rd, 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
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    550 Nova Rd
    Ormond Beach, FL 32174-4401
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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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