Historic Restaurant Building with Vintage
For Sale
$1,299,000
208 Magnolia Street, New Smyrna Beach, FL 32168
COMMERCIAL - New Smyrna Beach, FL
Property Size3,196 SF
Lot Size0.22 Acres
Price / SF$406.45
Days on Market552
Property Features for 208 Magnolia Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Secured
Lot features
Historic Area
Directions
State Rt 44 N on Live Oak E on Douglas N on Magnolia.
Subdivision
70 - New Smyrna Beach E of 95
Standard status
Active
APN
7441-38-09-0930
Size
3,196 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
S 15 FT OF LOT 92 & LOT 93 BLK 9 ANDREWS NEW SMYRNA MB 2 PG 68 PER OR 4063 PG 1491 PER OR 5883 PGS 4
Tax Annual Amount
11107
Legal Description
S 15 FT OF LOT 92 & LOT 93 BLK 9 ANDREWS NEW SMYRNA MB 2 PG 68 PER OR 4063 PG 1491 PER OR 5883 PGS 4
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1934
Building materials
Brick, Stucco
Roof type
Metal
Listing Agency:
Engel & Voelkers New Smyrna Beach · Engel & Völkers
(386) 213-6899
Listed By:
Amy Almester · License #3244893
(386) 314-4732
Added: Feb 13, 2025
Changed: Aug 4
Last Checked: Aug 19 at 1:06PM
MLS# 1209423
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 historic building, built in 1934, offers flexible MU zoning and a distinctive layout suited for a range of hospitality and retail concepts. The property retains vintage character, including three old-fashioned gas pumps and metal canopied work areas. The gas tanks were removed in 2006. Inside, the building includes two bathrooms, each with showers, supporting convenient on-site use for staff and guests.
Located at 208 Magnolia Street in New Smyrna Beach, the property sits about a block off Canal Street and just steps from Riverside Park. It is also near The Hub on Canal, a community center for the arts, and within an area that includes restaurants, retail shops, and community events along Canal Street. Nearby businesses mentioned include Yellow Dog Eats Kitchen & Bar and the New Smyrna Beach Brewing Company.
With approximately 3,196 square feet of building area on a 0.22-acre lot, this is a one-of-a-kind structure positioned for both pedestrian activity and vehicle traffic in the Canal Street corridor.
Located at 208 Magnolia Street in New Smyrna Beach, the property sits about a block off Canal Street and just steps from Riverside Park. It is also near The Hub on Canal, a community center for the arts, and within an area that includes restaurants, retail shops, and community events along Canal Street. Nearby businesses mentioned include Yellow Dog Eats Kitchen & Bar and the New Smyrna Beach Brewing Company.
With approximately 3,196 square feet of building area on a 0.22-acre lot, this is a one-of-a-kind structure positioned for both pedestrian activity and vehicle traffic in the Canal Street corridor.
Key Highlights
- 1934 historic building with Brick and Stucco construction and a metal roof
- Two bathrooms with showers (Bathroom 1 and Bathroom 2)
- Central air cooling and public water with public sewer
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
—
—
no second resolved use
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
Well-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
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- Sugar Works Distillery, LLC — 214 N Orange St, New Smyrna Beach, FL 32168
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Historic building with MU zoning and vintage gas-pump elements, plus two bathrooms with showers and metal canopied work areas.
Where is this bar & pub located?
The property is located at 208 Magnolia Street 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: 1934 historic building with Brick and Stucco construction and a metal roof; Two bathrooms with showers (Bathroom 1 and Bathroom 2); Central air cooling and public water with public sewer
