Renaissance Plaza 431 S Nova Rd Local commercial 5 434 m² 100 % Loué À vendre Ormond Beach, FL 32174 7 412 400 € (1 364,01 €/m²) Taux de capitalisation 6,31 %

Marcus & Millichap's TC Retail Group is pleased to present 431 S Nova Road, Ormond Beach, FL, a fully occupied 58,494 SF retail center on 5.93 acres. Priced at $148.73 per square foot, well below replacement cost, the center offers a compelling value-add opportunity with current net rents of just $9.38 PSF compared to market averages of $19.92 PSF.
The property is 100% leased to a diverse mix of national and local retailers, highlighted by Florida Health Care, a corporate tenant that has operated here for nearly 20 years, underscoring strong tenant commitment. With a Year 1 NOI of $548,884 and a 6.31% cap rate, the asset delivers reliable in-place income. An investor can capture immediate upside in the center upon collecting full reimbursements according to the lease, increasing the return to a 7.35% cap rate – Y2, with further upside available through continued rent growth over the hold period.
Strategically positioned along Nova Road with over 540 feet of frontage and traffic counts exceeding 28,000 vehicles per day, the property provides excellent visibility, substantial parking, and access to the growing Daytona Beach/Ormond Beach trade area. The corridor benefits from 120,000+ residents within five miles, a $82,000 average household income within three miles, and projected population growth of 10%+ over the next four years.
Surrounded by Publix, Winn-Dixie, Walgreens, Walmart, CVS, and other national retailers, 431 S Nova Road combines stable cash flow, immediate reimbursement-driven upside, below-replacement-cost pricing, and significant rent growth potential in one of Central Florida’s most dynamic coastal markets.