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    Commercial Condo with Storefront Exposure Title is generated by Realmo AI

    133-424 Luna Bella Ln, New Smyrna Beach, FL 32168

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    For Sale
    $650,000

    Prime storefront visibility with a long-term Snap Fitness tenant and an additional vacant area for owner-occupancy or lease.

    Property size:
    2,989 SF
    Price / SF:
    $217/SF
    Added:
    Apr 1, 2026
    Days on Market:
    64
    Last Refresh:
    Jun 3 at 2:49 am

    Property Features for 133-424 Luna Bella Ln

    General Information

    Standard status
    Active
    Size
    2,989 SF

    We can help!

    Listing Contact
    Carl Lentz
    Carl Lentz

    Listing agent Carl Lentz License #3068067

    Listing office SVN Alliance Commercial Real Estate Advisors

    Listing date Apr 1, 2026

    Source Exprealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of SVN Alliance Commercial Real Estate Advisors

    HighLights

    • Commercial condo storefront on Luna Bella Lane with direct exposure to the street
    • Unit B (Suite 133) totals 2,989 SF: 2,250 SF vacant for owner‑occupancy or leasing
    • 739 SF is leased to Snap Fitness through April 2033
    • Current annual base rent is $17,456.76 with 4% annual increases
    • Tenant pays condo dues and real estate taxes (in addition to base rent)
    • Condo Association handles building and grounds maintenance

    Overview

    This commercial condo opportunity includes a storefront unit that benefits from direct exposure to Luna Bella Lane. Unit B (Suite 133) totals 2,989 SF, with 2,250 SF currently vacant and available for an owner to occupy or lease. The remaining 739 SF is leased to Snap Fitness through April 2033, providing established income as part of a no-hassle setup. Condo dues and real estate taxes are paid by the tenant, while the condo association handles building and grounds maintenance. Building signage is also available.

    The property is positioned on busy Luna Bella Lane in Venetian Bay, an area supported by strong local demand. Venetian Bay includes a Downtown Town Center with approximately 2,000 homes within walking distance and more than 2,900 homes currently, with plans to grow to more than 4,000 at full build-out. The remarks also cite 322 new apartments across the street, expanding the pool of nearby customers.

    For investors and owner-users, the structure offers flexibility: maintain the existing Snap Fitness lease while activating the vacant space for an additional concept or using it to support an owner’s business. The combination of storefront frontage, a longer lease term, and association-managed operations can appeal to tenants and buyers seeking a straightforward retail-oriented holding.
    Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Pharmacy Big Box & Wholesale Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • SportsRock Cheer Dance Gymnastics — 424 Luna Bella Ln, New Smyrna Beach, FL 32168
    • Snap Fitness New Smyrna Beach — 424 Luna Bella Ln STE 131, New Smyrna Beach, FL 32168

    Location Insight

    • Map
    • Local Demand
    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0310573
    Latitude
    29.0352837

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    FAQs

    What type of property is this?
    Fitness center & gym - Prime storefront visibility with a long-term Snap Fitness tenant and an additional vacant area for owner-occupancy or lease.
    Where is this fitness center & gym located?
    The property is located at 133-424 Luna Bella Ln New Smyrna Beach, FL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Commercial condo storefront on Luna Bella Lane with direct exposure to the street; Unit B (Suite 133) totals 2,989 SF: 2,250 SF vacant for owner‑occupancy or leasing; 739 SF is leased to Snap Fitness through April 2033
    (386) 801-7435
    We can help!
    Listing Contact
    Carl Lentz
    Carl Lentz
    Real Estate License ID: 3068067
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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