Mixed-Use Property with
For Sale
$399,000
607 N Dixie, New Smyrna Beach, FL 32168
Commercial Sale, New Smyrna Beach, FL
Property Size988 SF
Lot Size0.13 Acres
Price / SF$403.85
Days on Market438
Property Features for 607 N Dixie
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Garage, Carport, Off Street
Lot features
Zero Lot Line
Directions
Hwy US1 / Rdgewood Ave
Subdivision
70 - New Smyrna Beach E of 95
Standard status
Active
APN
7441-02-00-0820
Size
988 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
N 25 FT OF LOT 82 & S 25 FT OF LOT 83 EXC RD RWY HAMMONDSNEW PER OR 5182 PG 2650 PER OR 6848 PG 2799 PER OR 7523 PG 4593
Tax Annual Amount
1386
Legal Description
N 25 FT OF LOT 82 & S 25 FT OF LOT 83 EXC RD RWY HAMMONDSNEW PER OR 5182 PG 2650 PER OR 6848 PG 2799 PER OR 7523 PG 4593
Building Details
Year built
1952
Floors in Building
1
Listing Agency:
Kincaid Realty
(386) 428-7800
Listed By:
Roger Kincaid · License #3027673
(386) 846-0049
Added: Jul 3, 2025
Changed: Sep 12
Last Checked: Sep 13 at 3:06PM
MLS# 1215246
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 607 N Dixie in New Smyrna Beach, this mixed-use property combines residential and commercial components on a 0.13-acre parcel. The main home includes 2 bedrooms and 1 bathroom, while the property also offers a 672-square-foot workshop with a half bathroom and laundry area.
A detached 24-by-28-foot garage adds another half bathroom and 2 private offices. Off-street parking, a garage, and a carport are included. The property has 988 square feet of stated building area, was built in 1952, and received a new energy-efficient HVAC system with heat pump in 2022.
The site fronts US-1/Dixie Freeway and also provides access from the backstreet. It is within the New Smyrna Historic District and approximately 2.3 miles from the beach. No flood history is reported.
A detached 24-by-28-foot garage adds another half bathroom and 2 private offices. Off-street parking, a garage, and a carport are included. The property has 988 square feet of stated building area, was built in 1952, and received a new energy-efficient HVAC system with heat pump in 2022.
The site fronts US-1/Dixie Freeway and also provides access from the backstreet. It is within the New Smyrna Historic District and approximately 2.3 miles from the beach. No flood history is reported.
Key Highlights
- Mixed‑use property on 0.13 acres at 607 N Dixie, New Smyrna Beach, FL 32168
- 2‑bedroom, 1‑bath main residence
- 672 sq ft workshop with 1/2 bath and laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,805
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,100
$296.1K
Cap Rate 7%
$211,500
$211.5K
Cap Rate 9%
$164,500
$164.5K
Market Conditions
NOI Build-Up for 988 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.3K $21.60/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$19.7K $19.98/SF
− OpEx
−$4.9K −$5.00/SF
NOI
$14.8K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,100
Cap Rate 7%
$211,500
Cap Rate 9%
$164,500
Alternative Uses
Best Use
Office B
$211.5K
$185.1K – $246.8K
NOI $14,805 @ 7.0% cap · market cap 3.71%
Second Best
Mixed Use
$174.3K
$152.6K – $203.4K
NOI $12,204 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 32168, FL
30,058
Population
16,439
Households
1.8
Avg Household Size
54
Median Age
31%
College-Educated
93%
High-School Grad
153.9 sq mi
ZIP Area
195
Density / Sq Mi
$72,967
Median Household Income
$41,076
Median Earnings
$1,608
Median Rent
$310,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Live-work configuration combines a residence, commercial-grade workshop, detached office space, and multiple parking options.
Where is this mixed-use property located?
The property is located at 607 N Dixie New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Mixed‑use property on 0.13 acres at 607 N Dixie, New Smyrna Beach, FL 32168; 2‑bedroom, 1‑bath main residence; 672 sq ft workshop with 1/2 bath and laundry
