Historic Building Near Canal
For Sale
$1,299,000
208 MAGNOLIA ST, New Smyrna Beach, FL 32168
1934 historic building suitable for various businesses.
Property Size3,196 SF
Lot Size0.22 Acres
Days on Market157
Property Features for 208 MAGNOLIA ST
General Information
Standard status
Active
Size
3,196 SF
Lot size
0.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,106
Building Details
Building Size
3,196 SF
Year Built
1934
Stories
1
Listing Agency:
ENGEL & VOLKERS NEW SMYRNA
(386) 314-4732
Listed By:
Amy Almester · License #3244893
(386) 314-4732
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 2:05PM
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 ENGEL & VOLKERS NEW SMYRNA
Investment Insights
Based on property information with market context.
This historic building, constructed in 1934, is located at 208 Magnolia St. in New Smyrna Beach, FL. Zoned MU, the property is suitable for a variety of businesses, including a wine bar, deli, restaurant, or martini bar. The building retains vintage charm with three old-fashioned gas pumps and metal canopied work areas. The gas tanks were removed in 2006. The interior includes two bathrooms, each equipped with showers. Situated one block from Canal Street and steps from Riverside Park, the location benefits from proximity to The Hub on Canal, a community center for the arts. The property is near Yellow Dog Eats Kitchen & Bar and the New Smyrna Beach Brewing Company. The location provides strong vehicle and pedestrian traffic.
Key Highlights
- Prime Location: One block from Canal Street and steps from Riverside Park, offering high visibility and foot traffic.
- Versatile MU Zoning: Suitable for various business types (wine bar, deli, restaurant, martini bar).
- Historic Charm: Unique 1934 building with vintage gas pumps and metal canopies.
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
$48,532
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
3.74%
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%
$970,640
$970.6K
Cap Rate 7%
$693,314
$693.3K
Cap Rate 9%
$539,244
$539.2K
Market Conditions
NOI Build-Up for 3,196 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
$70.2K $21.96/SF
− Vacancy
−$5.5K −$1.71/SF
EGI
$64.7K $20.25/SF
− OpEx
−$16.2K −$5.06/SF
NOI
$48.5K $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%
$970,640
Cap Rate 7%
$693,314
Cap Rate 9%
$539,244
Alternative Uses
Best Use
Specialty Retail
$693.3K
$606.7K – $808.9K
NOI $48,532 @ 7.0% cap · market cap 3.74%
Second Best
Retail
$430.0K
$376.3K – $501.7K
NOI $30,102 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$942.4K
$824.6K – $1.10M
NOI $65,965 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Dining 19%
Exxon
Shops & Services
4,745 visits/mo
0.4 miles
Take 5 Oil Change
Shops & Services
1,917 visits/mo
0.3 miles
Papa John's Pizza
Dining
1,635 visits/mo
0.3 miles
Muffler Man
Shops & Services
278 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - 1934 historic building suitable for various businesses.
Where is this storefront property located?
The property is located at 208 MAGNOLIA ST New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Prime Location: One block from Canal Street and steps from Riverside Park, offering high visibility and foot traffic.; Versatile MU Zoning: Suitable for various business types (wine bar, deli, restaurant, martini bar).; Historic Charm: Unique 1934 building with vintage gas pumps and metal canopies.
