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

    960 Nova Rd Ormond Beach, FL 32174-7335

    • Auto shops
    • 7,600 SF
    • 0.84 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2024
    $750,000
    Value Estimations
    $665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3017932
    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

    • Nellee's Muffler and Auto Repair / Auto Repair Shop

    Property Details for 960 Nova Rd

    Year built
    1985
    Construction
    WOOD
    Lot size
    0.84 lot acres
    Property size
    7,600 SF
    Zone code
    I1
    Property type
    Auto shops
    APN
    4242-04-06-0215
    APU
    424204060215

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $501,000
      Market price range: $349k - $1.20M

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0742
    Latitude
    29.2572
    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
    $9,667
    $145,800
    $377,279
    $523,079
    -
    $145,800
    $377,279
    $523,079

    Comparable in this City

    • Value Estimation
      $625,000
      2,000 SF

      1046 Us Hwy 1st 1

      AUTO REPAIR, GARAGE • 2,000 SF
      1046 Us Hwy 1st 1, Ormond Beach, FL 32174-4288
      View Details
    • Value Estimation by Request
      9,200 SF

      691 Yonge St

      AUTO REPAIR, GARAGE • 9,200 SF
      691 Yonge St, Ormond Beach, FL 32174-7653
      View Details
    • Value Estimation by Request

      724 Nova Rd

      Automotive properties
      724 Nova Rd, Ormond Beach, FL 32174
      View Details
    • Value Estimation by Request
      715 SF

      305 Us-1

      Individual retail properties • 715 SF
      305 Us-1, Ormond Beach, FL 32174
      View Details
    • Value Estimation
      $950,000
      1,637 SF

      1510 Us Hwy 1st 1

      AUTO REPAIR, GARAGE • 1,637 SF
      1510 Us Hwy 1st 1, Ormond Beach, FL 32174-8703
      View Details
    • Value Estimation
      $500,000
      8,174 SF

      1178 Nova Rd

      AUTO REPAIR, GARAGE • 8,174 SF
      1178 Nova Rd, Ormond Beach, FL 32174-7339
      View Details

    Similar Nearby for Sale

    • $2,200,000
      7,179 SF

      Ormond Beach Auto Shop Investment

      7,179 SF building with storage yard in Ormond Beach.
      1130 S Nova Rd, Ormond Beach, FL 32174
      View Details
    • $999,500
      5,139 SF

      Turn-Key Collision Center For Sale

      Equipped collision center with secured industrial compound on 0.68 acres.
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    • $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
    • $775,000
      2,480 SF

      Ormond Beach Car Wash Business

      Profitable Car Wash, Prime Location
      75 Tymber Creek Rd, Ormond Beach, FL 32174
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    • $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
    • Contact for pricing

      Turn-Key Industrial Compound For Sale

      Secured industrial compound with multiple buildings and specialized equipment.
      50 S Perrott Dr, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,582 SF

      Prime Ormond Beach Retail Space

      Single-tenant retail, 36,582 sq ft
      410 Nova Rd, Ormond Beach, FL 32174
      View Details
    • $25 SF/Yr
      23,467 SF

      West Granada Center: Medical Offices

      Ormond Beach medical suites available
      1425 Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $9,902 /Mo
      5,281 SF

      Ormond Beach Freestanding Restaurant Building

      Former restaurant with FF&E, ready for new business.
      400 S Nova Rd, Ormond Beach, FL 32174
      View Details
    • Contact for pricing
      3,000 SF

      Retail Storefront Opportunity Near Aldi

      Retail storefront available for rent near Aldi and TD Bank.
      1290 W Granada Blvd, Ormond Beach, FL 32174
      View Details
    • $22 SF/Yr
      2,500 SF

      Retail Space Near I-95

      Former restaurant space with high visibility and building signage.
      1622 N Us Highway 1, Ormond Beach, FL 32174
      View Details
    • New
      $26 SF/Yr
      4,765 SF

      Ormond Beach Retail Space Available

      New retail space adjacent to Love's Whole Foods.
      275 Williamson Blvd, Ormond Beach, FL 32174
      View Details
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    960 Nova Rd
    Ormond Beach, FL 32174-7335
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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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