David Ragno And Ryan Garzon Acquire Retail Asset From Ty Lohman For $7.75M In Ormond Beach
431 South Nova Road
$7,750,000
$132/SF
Building Size
58,494 SF
Asset Type
Retail
Closing
Dec 23, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 431 South Nova Road in Ormond Beach. It has a total square footage of 58,494 and sold for a price of $7,750,000, equating to a price per square foot of $132.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,750,000
- Buyer: David Ragno & Ryan Garzon - DRG Real Estate, LLC
- Seller: Ty Lohman
- Broker: Tarek Chbeir - Marcus & Millichap
- Date of Sale: 12/24/2025
This transaction was executed between the buyer, David Ragno and Ryan Garzon, who are representatives of DRG Real Estate, LLC, and the seller Ty Lohman. Tarek Chbeir of Marcus & Millichap represented the broker in this transaction.
On the Map
$7,750,000
$132/SF
Retail
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Players
Ormond Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.05%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93