Three-Unit Multifamily
For Sale
$739,900
New Smyrna Beach, FL 32168, New Smyrna Beach, FL 32168
Residential Income, New Smyrna Beach, FL
Property Size2,824 SF
Lot Size0.17 Acres
Price / SF$262
Days on Market43
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Multi Family
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Parking
3
Parking features
Assigned, On Street
Exterior features
Courtyard
Fireplace
1
Appliances
Washer/Dryer Stacked, Washer, Tankless Water Heater, Refrigerator, Microwave, Gas Water Heater, Gas Range, Dryer, Dishwasher
Subdivision
Not on the List
Lot features
Historic Area, Many Trees
Elementary school
Read-Patillo
Middle school
New Smyrna Beach
High school
New Smyrna Beach
Directions
Canal Strret E from US 1 to Magnolia, go right head South to 407 on the left. Street parking only.
Standard status
Active
Size
2,824 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
41-17-34 S 3/4 OF LOT 63 & N 11.75 FT OF LOT 64 BLK 4 ANDREW S PROPERTY NEW SMYRNA MB 1 PG 128 MB 2 PG 68 MB 12 PG 183 MB 17 PG 79 PER OR 3136 PG 0896 PER OR 8070 PG 2163 PER OR 832
Tax Annual Amount
4590
Legal Description
41-17-34 S 3/4 OF LOT 63 & N 11.75 FT OF LOT 64 BLK 4 ANDREW S PROPERTY NEW SMYRNA MB 1 PG 128 MB 2 PG 68 MB 12 PG 183 MB 17 PG 79 PER OR 3136 PG 0896 PER OR 8070 PG 2163 PER OR 832
Utilities
Heating system
Electric (Heating), Natural Gas, Central, Hot Water(Heating)
Cooling system
Multi Units, Electric, Central Air
Water source
Public
Building Details
Year built
1913
Floors in Building
2
Number of units
3
Flooring type
Wood, Tile
Building materials
Frame
Roof type
Metal, Shingle
Listing Agency:
Collado Real Estate
(386) 427-0002
Listed By:
Bryan Disbrow · License #521363
(386) 690-2558
Added: Jul 30
Changed: Aug 20
Last Checked: Sep 10 at 5:06AM
MLS# 1229179
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.
Built in 1913, this 2,824-square-foot triplex includes a two-story main residence with two apartments and a detached cottage. The lower apartment offers two bedrooms, one bathroom, a fireplace, and private laundry, while the upper apartment has one bedroom, one bathroom, a separate rear entry, and its own laundry. The cottage measures approximately 800 square feet and includes a loft and private laundry. Wood and tile flooring, central air, electric heating, natural-gas and hot-water systems, and a courtyard are among the property features.
The 0.17-acre property is located in New Smyrna Beach within the B&B District and Historic and Arts Overlay Districts. It is within walking distance of Canal Street shops, restaurants, galleries, breweries, and entertainment. All three units are occupied by long-term tenants. The main residence roof is approximately 8 years old, and the detached cottage roof was replaced in 2026. Public water serves the property, which has one electric meter and one water meter.
The 0.17-acre property is located in New Smyrna Beach within the B&B District and Historic and Arts Overlay Districts. It is within walking distance of Canal Street shops, restaurants, galleries, breweries, and entertainment. All three units are occupied by long-term tenants. The main residence roof is approximately 8 years old, and the detached cottage roof was replaced in 2026. Public water serves the property, which has one electric meter and one water meter.
Key Highlights
- Three occupied rental units: two apartments in the main residence plus a detached cottage
- 2,824‑square‑foot triplex on a 0.17‑acre site
- Detached cottage offers approximately 800 square feet, a loft, and private 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
$24,774
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
3.35%
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%
$495,480
$495.5K
Cap Rate 7%
$353,914
$353.9K
Cap Rate 9%
$275,267
$275.3K
Market Conditions
NOI Build-Up for 2,824 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
$39.3K $13.92/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$35.4K $12.53/SF
− OpEx
−$10.6K −$3.76/SF
NOI
$24.8K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
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%
$495,480
Cap Rate 7%
$353,914
Cap Rate 9%
$275,267
Alternative Uses
Best Use
Multifamily LT 5
$353.9K
$309.7K – $412.9K
NOI $24,774 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$307.4K
$269.0K – $358.7K
NOI $21,519 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$832.7K
$728.6K – $971.5K
NOI $58,287 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Historic two-story residence includes separate apartments and a detached cottage, with all units occupied by long-term tenants.
Where is this triplex located?
The property is located at New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Three occupied rental units: two apartments in the main residence plus a detached cottage; 2,824‑square‑foot triplex on a 0.17‑acre site; Detached cottage offers approximately 800 square feet, a loft, and private laundry
