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    Property profile & analytics

    986 Nova Rd Ormond Beach, FL 32174-7335

    • Grocery and convenience stores
    • 2,908 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    $165,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0692058
    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

    • Jiffy Food Store / Convenience Store / Oil Change Service

    Property Details for 986 Nova Rd

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.34 lot acres
    Property size
    2,908 SF
    Zone code
    I-1
    Property type
    Grocery and convenience stores
    APN
    4242-04-06-0211
    APU
    424204060211

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $165,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $145,000
      Market price range: $145k - $203k

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

    Location Insight

    • Map
    • Local Demand
    City
    Ormond Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0737
    Latitude
    29.2567
    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
    $3,446
    $64,768
    $109,293
    $174,061
    -
    $64,768
    $109,293
    $174,061

    Comparable in this City

    • Value Estimation by Request
      2,732 SF

      1437 And C-2

      Restaurants • 2,732 SF
      1437 And C-2, Ormond Beach, FL 32174
      View Details
    • Value Estimation
      $220,000
      3,176 SF

      3795 Roscommon Dr

      CONVENIENCE STORE • 3,176 SF
      3795 Roscommon Dr, Ormond Beach, FL 32174-2850
      View Details
    • Value Estimation
      $225,000
      3,250 SF

      1546 Granada Blvd

      CONVENIENCE STORE • 3,250 SF
      1546 Granada Blvd, Ormond Beach, FL 32174-8298
      View Details
    • Value Estimation
      $170,000
      3,040 SF

      1521 Us Hwy 1st 1

      CONVENIENCE STORE • 3,040 SF
      1521 Us Hwy 1st 1, Ormond Beach, FL 32174-8704
      View Details
    • Value Estimation
      $150,000
      1,196 SF

      625 Yonge St

      CONVENIENCE STORE • 1,196 SF
      625 Yonge St, Ormond Beach, FL 32174-7653
      View Details
    • Value Estimation by Request
      630 SF

      201 Granada Blvd

      CONVENIENCE STORE • 630 SF
      201 Granada Blvd, Ormond Beach, FL 32174-6201
      View Details

    Similar Nearby for Sale

    • $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
      1,437 SF

      Retail Space in Destination Daytona

      1,437 SF retail space in high-traffic Destination Daytona.
      1653 N Us Highway 1, Ormond Beach, FL 32174
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    • 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
    • $4,200,000
      29,400 SF

      Corner Building on US Highway

      29,400 SF building suitable for office, retail, or showroom.
      298 S Yonge St Hwy U.S, Ormond Beach, FL 32174
      View Details
    • $4,200,000
      29,400 SF

      Ormond Beach Commercial Corner Building

      29,400 SF office/retail/showroom building with furniture and ample parking.
      280 S Yonge St, Ormond Beach, FL 32174
      View Details

    Similar Nearby for Lease

    • $2,837 /Mo
      1,840 SF

      Ormond Beach Retail Space Available

      1,840 SF retail space in central Ormond Beach business district.
      136 N Orchard St, Ormond Beach, FL 32174
      View Details
    • $15 SF/Yr
      25,000 SF

      Ormond Beach Commercial Space Available

      Flexible commercial space suitable for retail, office, or showroom.
      333 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
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    • 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
    • $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
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    986 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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