Nitrogen-vacancy centers (NVs) are an atomic defect in diamond which possess remarkable fluorescence and spin properties which can be used for multiple metrological applications, particularly when the NV is hosted in nanodiamond, which can be easily integrated with a variety of nanoscale systems. A new class of nanodiamond hybrid nanostructures was developed using bottom-up synthesis methods. In this work, coupling between NV centers and plasmonic, excitonic and magnetic nanoparticles in these nanodiamond hybrid nanostructures is investigated using fluorescence lifetime measurements, spin relaxometry measurements and modeled using finite element method (FEM) and Monte Carlo simulations. This work not only characterizes the properties of these nanodiamond-hybrid nanostructures but also facilitates design guidelines for future hybrid structures with enhanced metrological and imaging capabilities.