Drive-Through Restaurant with
For Sale
$739,000
1518 S DIXIE FREEWAY, New Smyrna Beach, FL 32168
Commercial Sale, New Smyrna Beach, FL
Property Size1,944 SF
Lot Size10,500.00 Acres
Price / SF$380.14
Days on Market96
Property Features for 1518 S DIXIE FREEWAY
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Parking Lot
Lot features
Irregular Lot
Directions
SOUTH OF CANAL STREET IN NEW SMYRNA BEACH (SR 44) ON U.S. HIGHWAY 1 (SOUTH DIXIE FREEWAY) TOWARDS EDGEWATER CITY LINE ~.5 MILES.
Subdivision
70 - New Smyrna Beach E of 95
Standard status
Active
APN
744904030180
Size
1,944 SF
Lot size
10,500.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLEASE SEE CONTRACT ADDENDUM #1 ATTACHED IN SUPPLEMENTS
Tax Annual Amount
6612
Legal Description
PLEASE SEE CONTRACT ADDENDUM #1 ATTACHED IN SUPPLEMENTS
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1963
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block
Roof type
Membrane
Listing Agency:
Salty City Realty
Listed By:
Pete Klironomos · License #3410351
(386) 295-9299
Added: Jun 1
Changed: Aug 20
Last Checked: Sep 4 at 3:06AM
MLS# 1227158
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.
This drive-through restaurant property includes a 1,944-square-foot interior with central heating and central air, plus an outdoor patio bringing the total area to approximately 2,488 square feet. The sale includes affixed equipment and interior furnishings, providing an existing setup for restaurant or quick-service operations. Block construction, concrete flooring, a membrane roof, and two bathrooms are part of the improvements.
The property is located at 1518 S Dixie Freeway in New Smyrna Beach, Florida. Public water and public sewer serve the site, which also includes a parking lot. The recorded traffic volume is approximately 28,000 AADT. The facility is currently used by the owner, and showings are arranged by appointment with advance notice.
The property is located at 1518 S Dixie Freeway in New Smyrna Beach, Florida. Public water and public sewer serve the site, which also includes a parking lot. The recorded traffic volume is approximately 28,000 AADT. The facility is currently used by the owner, and showings are arranged by appointment with advance notice.
Key Highlights
- Drive‑through restaurant facility with approximately 2,488 SF including outdoor patio
- 1,944 SF HVAC'd interior area with central heating and central air
- Sale includes affixed equipment and interior furnishings
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
$29,520
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
3.99%
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%
$590,400
$590.4K
Cap Rate 7%
$421,714
$421.7K
Cap Rate 9%
$328,000
$328.0K
Market Conditions
NOI Build-Up for 1,944 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
$42.7K $21.96/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$39.4K $20.25/SF
− OpEx
−$9.8K −$5.06/SF
NOI
$29.5K $15.19/SF
Area
Volusia County, FL
Vacancy
7.80%
Lease Rate
$21.96 /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%
$590,400
Cap Rate 7%
$421,714
Cap Rate 9%
$328,000
Alternative Uses
Best Use
Specialty Retail
$421.7K
$369.0K – $492.0K
NOI $29,520 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$573.2K
$501.6K – $668.7K
NOI $40,124 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
74k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 25%
Leisure 22%
Home Improvements & Furnishings 4%
McDonald's
Dining
20,571 visits/mo
0.2 miles
AMC Classic New Smyrna 12
Leisure
16,263 visits/mo
0.2 miles
Dollar General
Shops & Services
8,457 visits/mo
0.2 miles
Wendy's
Dining
7,991 visits/mo
0.0 miles
Circle K
Shops & Services
7,165 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Equipped food-service facility with existing furnishings, outdoor seating, and a dedicated parking lot.
Where is this drive through restaurant located?
The property is located at 1518 S DIXIE FREEWAY New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Drive‑through restaurant facility with approximately 2,488 SF including outdoor patio; 1,944 SF HVAC'd interior area with central heating and central air; Sale includes affixed equipment and interior furnishings
