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

    767 Nova Rd Ormond Beach, FL 32174-7332

    • Community centers
    • 25,800 SF
    • 8.01 lot acres
    OFF-MARKET
    Value Estimations
    $2,850,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4542677
    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

    • Optim Spine & Health / Chiropractor
    • Cory's Affordable Computer Sales and Services, INC / Computer Repair Service
    • Tomoka Plaza / Shopping Mall
    • Florehab / Physical Therapist
    • Cory's Affordable Computers / Computer Repair Service / Used Computer Store

    Property Details for 767 Nova Rd

    Year built
    1982
    Construction
    WOOD
    Lot size
    8.01 lot acres
    Property size
    25,800 SF
    Zone code
    B8
    Property type
    Community centers
    APN
    4242-03-04-0130
    APU
    424203040130

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,620,000
      Current use
      COMMERCIAL (GENERAL)
      $4,295,000
      Change: -7% Conversion: Easy
      RETAIL STORES
      $4,075,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0754
    Latitude
    29.2618
    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
    $36,280
    $1,151,027
    $1,070,767
    $2,221,794
    -
    $1,151,027
    $1,070,767
    $2,221,794

    Comparable in this City

    • Value Estimation
      $2,565,000
      27,112 SF

      601 Yonge St

      MINI-MALL • 27,112 SF
      601 Yonge St, Ormond Beach, FL 32174-7541
      View Details
    • Value Estimation
      $1,335,000
      12,000 SF

      1095 Us Hwy 1st 1

      MINI-MALL • 12,000 SF
      1095 Us Hwy 1st 1, Ormond Beach, FL 32174-1921
      View Details
    • Value Estimation
      $1,575,000
      10,010 SF

      353 Granada Blvd

      MINI-MALL • 10,010 SF
      353 Granada Blvd, Ormond Beach, FL 32174-6275
      View Details
    • Value Estimation
      $5,130,000
      42,224 SF

      431 Nova Rd

      MINI-MALL • 42,224 SF
      431 Nova Rd, Ormond Beach, FL 32174-6138
      View Details
    • Value Estimation by Request
      1,366 SF

      1435 Us Hwy 1st Ste D6

      MINI-MALL • 1,366 SF
      1435 Us Hwy 1st Ste D6, Ormond Beach, FL 32174-0732
      View Details
    • Value Estimation
      $3,895,000
      14,600 SF

      1112 Granada Blvd

      MINI-MALL • 14,600 SF
      1112 Granada Blvd, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      36,268 SF

      Ormond Beach Retail Space Available

      Retail space in high-traffic Tuscany Shoppes on Granada Boulevard.
      1185 W Granada Blvd, Ormond Beach, FL 32174
      View Details
    • Contact for pricing
      85,448 SF

      Ormond Beach Retail Space Available

      High-visibility retail space in a redeveloped Ormond Beach center.
      353 W Granada Blvd, Ormond Beach, FL 32174
      View Details
    • Contact for pricing
      22,085 SF

      Turnkey Restaurant Space Available

      Endcap restaurant space with indoor/outdoor seating in Ormond Beach.
      175 S Nova Rd, Ormond Beach, FL 32174
      View Details
    • Contact for pricing
      19,981 SF

      Retail Shoppes at Granada Pointe

      Proposed retail center with drive-thru, completion target late-2025.
      550 W Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $300,000
      2,258 SF

      Ormond Beach Bistro for Sale

      Established Asian Cuisine Restaurant, High Traffic Area
      222 Nova Rd, Ormond Beach, FL 32174
      View Details
    • $599,900
      0.67 Acres

      Riverfront Commercial Land For Sale

      Commercial land with river frontage, dock, and potential uses.
      1003 Us Highway 1, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Lease

    • $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
    • $27 SF/Yr
      19,981 SF

      Granada Pointe Shoppes: Ormond Beach

      New Retail Center, High Traffic Location
      550 Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $3,540 /Mo
      16,834 SF

      Ormond Beach Office Suites Available

      Prime Office Space, Newly Renovated
      454 Yonge St, Ormond Beach, FL 32174
      View Details
    • $23 SF/Yr
      4,765 SF

      275 Williamson Blvd

      Medical offices • 4,765 SF
      275 Williamson Blvd, Ormond Beach, FL 32174
      View Details
    • $4 SF/Yr
      13,133 SF

      776 Parque Drive: Ormond Beach Warehouse

      New Construction Warehouse Condo, Flexible Space
      776 Parque Dr, Ormond Beach, FL 32174
      View Details
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    767 Nova Rd
    Ormond Beach, FL 32174-7332
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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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