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431 S Nova Rd
Ormond Beach, FL 32174
Renaissance Plaza · Retail Property For Sale
Investment Highlights
- Immediate upside: An investor can capture additional return upon collecting full reimbursements according to the lease, moving the cap rate to 7.61%.
- Priced at $143.60 PSF: well below replacement cost. High barrier to entry location.
- Dense demographics: 120,000+ residents within 5 miles with continued annual growth.
- Significant value-add: Current net rents at $9.38 PSF vs. market at $19.92 PSF, According to Costar.
- Substantial on-site parking: supporting tenant operations and customer convenience.
- Robust growth trajectory: CoStar projects 10%+ population growth in next 4 years.
Property Facts
Property Type
Retail
Property Subtype
Building Size
58,494 SF
Building Class
B
Year Built/Renovated
1988/1996
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
5.93 AC
Zoning
B-8 Ormond Beach - B-8 Ormond Beach
Parking
20 Spaces (0.34 Spaces per 1,000 SF Leased)
Frontage
540’ on S Nova Rd
Amenities
- Signage
- Wheelchair Accessible
- Air Conditioning
Property Taxes
| Parcel Number | 4221-07-00-0010 | Improvements Assessment | $4,156,323 |
| Land Assessment | $1,084,348 | Total Assessment | $5,240,671 |
Property Taxes
Parcel Number
4221-07-00-0010
Land Assessment
$1,084,348
Improvements Assessment
$4,156,323
Total Assessment
$5,240,671
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