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    974 S Nova Rd Ormond Beach, FL 32174
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    974 S Nova Rd, Ormond Beach, FL 32174

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    • Office Units
    • 5,650 SF
    For Sale
    $1,300,000
    View Listing →
    Secure Facility with High-End Appeal For Sale
    $1,300,000
    5,650 SF

    Secure Facility with High-End Appeal

    Versatile property with vault, warehouse, office, and secure yard.

    974 S Nova Road, Ormond Beach, FL 32174
    View Listing
    Property ID
    US18-4882494
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Units

    Property Details for 974 S Nova Rd

    Year built
    1976
    Property type
    Office Units
    Property subtype
    Retail space

    Description

    The perfect mixture of Location, Allowed Uses and Solid Construction! 974 S. Nova Rd. The property is a total of 38,860 SF (.89 Ac. +/-) of land with 2 points of ingress/egress . You can access the property from Nova Rd. or Arroyo Pkwy. Giving you the ability to drive through the property. With over 20,000sf (approx.200x100) of fully fenced, secured, and cleared yard makes this the ideal location for a Distribution yard, or Boat and RV storage and parking, both allowed uses by right. The Building is approximately 5650sf in total, comprised of 3350sf open warehouse and 2300sf of Air-Conditioned office space over 2 floors. Originally constructed as a Armored Car depot & Federal cash depository, the Safe Room is outfitted with a free standing, high end ''Walk In'' 10' x 10' security saf

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0738186
    Latitude
    29.2569286

    Comparable in this City

    • Contact for pricing
      5,650 SF

      Secure Facility with High-End Appeal

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      974 S Nova Rd, Ormond Beach, FL 32174
      View Details
    • $575,000
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      Ormond Beach Commercial Property For Sale

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    • $1,300,000

      Secure Facility with High-End Appeal

      Versatile property with vault, secure yard, and premium finishes.
      974 S Nova Rd, Ormond Beach, FL 32174
      View Details
    • $1,300,000
      5,650 SF

      Ormond Beach Commercial Property For Sale

      Versatile commercial property with high-security features and expansion potential.
      974 S Nova Rd, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,650 SF

      Secure Facility with High-End Appeal

      Versatile property with vault, warehouse, office, and secure yard.
      974 S Nova Rd, Ormond Beach, FL 32174
      View Details
    • $575,000
      1,785 SF

      Ormond Beach Commercial Property For Sale

      Versatile commercial building with warehouse space in Ormond Beach, Florida.
      300 Washington Pl, Ormond Beach, FL 32174
      View Details
    • Contact for pricing

      Ormond Beach Commercial Property For Sale

      Versatile commercial building with warehouse space and ample parking.
      300 Washington Pl, Ormond Beach, FL 32174
      View Details
    • $1,300,000

      Secure Facility with High-End Appeal

      Versatile property with vault, secure yard, and premium finishes.
      974 S Nova Rd, Ormond Beach, FL 32174
      View Details
    • $349,900

      Ormond Beach Office and Warehouse

      Office and warehouse space available in Ormond Beach, Florida.
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    Similar Nearby for Lease

    • $13 SF/Yr

      Ormond Beach Flex/Office Space

      Flex/office spaces available near I-95 and US Hwy 1.
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      Ormond Beach Industrial Warehouse Space

      Industrial warehouse with office and canopy workspace available for rent.
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      Ormond Beach Flex/Office Space

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      Retail Space at Granada Pointe

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      Furnished Former Call Center Space

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      Ormond Beach Commercial Ground Lease

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    View Listing
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    Ormond Beach, FL 32174
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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.

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