Turn-Key Drive-Through Restaurant
For Sale
Contact for pricing
1518 S DIXIE FREEWAY, New Smyrna Beach, FL 32168
Fully equipped restaurant facility with drive-thru capability and interior buildout, plus outdoor patio seating.
Property Size1,944 SF
Price / SF$380.14
Days on Market73
Property Features for 1518 S DIXIE FREEWAY
General Information
Standard status
Active
Size
1,944 SF
Class
C
Total Parking Spaces
15
Property subtype
Business for Sale, Retail
Zoning
B-3 (HIGHWAY BUSINESS SERVICES)
Occupancy
100%
Additional Details
Business Included
Yes
Traffic Count
28,500 vehicles/day
Building Details
Year Built
1963
Year Renovated
2023
Units
10
Tenancy
Single
Listing Agency:
Salty City Realty
(386) 295-9299
Listed By:
PETE KLIRONOMOS · License #BK3410351
Source:
Crexi
Added: Jun 1
Changed: Aug 10
Last Checked: Aug 11 at 7:41PM
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 Salty City Realty
Investment Insights
Based on property information with market context.
The property is a drive-through restaurant/food service facility designed for a quick-service concept, ice cream/dessert cafe, or similar use. The sale includes the real estate and the entire operating facility, along with affixed equipment and interior furnishings within the bar/dining area. The outdoor patio is included, and the listing indicates approximately 2,488 SF total area, with about 1,944 SF of HVAC’d interior space.
The site is located at 1518 S Dixie Freeway in New Smyrna Beach, FL. The listing also references approximately 28,500 AADT, supporting visibility and access for pass-by traffic. Access for showings is appointment-only, with minimum 24-hour notice required. The listing further states that you should not approach the property site or employees for business details, and that cash or proof of funds will be needed in advance of any showing.
For a buyer or operator seeking an immediately usable, turn-key setup, this offering provides the core restaurant infrastructure and included equipment as part of the transaction. Its drive-thru capability and bar/dining buildout are purpose-fit for quick service food programs that require efficient order flow while still accommodating on-site seating in the interior and outdoor patio area.
The site is located at 1518 S Dixie Freeway in New Smyrna Beach, FL. The listing also references approximately 28,500 AADT, supporting visibility and access for pass-by traffic. Access for showings is appointment-only, with minimum 24-hour notice required. The listing further states that you should not approach the property site or employees for business details, and that cash or proof of funds will be needed in advance of any showing.
For a buyer or operator seeking an immediately usable, turn-key setup, this offering provides the core restaurant infrastructure and included equipment as part of the transaction. Its drive-thru capability and bar/dining buildout are purpose-fit for quick service food programs that require efficient order flow while still accommodating on-site seating in the interior and outdoor patio area.
Key Highlights
- 1963‑built fully equipped restaurant/food service facility with interior bar/dining buildout
- Drive‑thru capability for restaurant/quick service use
- Sale includes the real estate, the entire facility, and affixed equipment in place
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
28,500 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Papa John's Pizza
Dining
1,635 visits/mo
0.1 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 - Fully equipped restaurant facility with drive-thru capability and interior buildout, plus outdoor patio seating.
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: 1963‑built fully equipped restaurant/food service facility with interior bar/dining buildout; Drive‑thru capability for restaurant/quick service use; Sale includes the real estate, the entire facility, and affixed equipment in place
