Historic Gas Station
For Sale
$1,299,000
208 MAGNOLIA, New Smyrna Beach, FL 32168
Commercial Sale, New Smyrna Beach, FL
Property Size3,196 SF
Price / SF$406.45
Days on Market573
Property Features for 208 MAGNOLIA
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
New Smyrna Beach Historic District
High school district
Volusia County SD
Directions
State Rt 44 N on Live Oak E on Douglas N on Magnolia
Standard status
Active
APN
41-17-34-38-09-0930
Size
3,196 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
724168
Amenities
two bathrooms with showers
metal canopied work areas
Building Details
Year built
1934
Listing Agency:
Engel Volkers NSB
Listed By:
John Chin
Added: Jan 31, 2025
Changed: Aug 27
Last Checked: Aug 27 at 5:06PM
MLS# 11952083
Copyright © 2026 My State MLS. 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.
Built in 1934, this 3,196-square-foot commercial building retains three vintage gas pumps and metal-covered work areas associated with its earlier identity. The interior includes two bathrooms, each equipped with a shower, while MU zoning supports a range of commercial concepts.
The property at 208 Magnolia is one block from Canal Street and close to Riverside Park. The surrounding Canal Street district includes restaurants, retail shops, and community events, with The Hub on Canal also nearby. Underground gas tanks were removed in 2006.
The property at 208 Magnolia is one block from Canal Street and close to Riverside Park. The surrounding Canal Street district includes restaurants, retail shops, and community events, with The Hub on Canal also nearby. Underground gas tanks were removed in 2006.
Key Highlights
- 3,196 SF building constructed in 1934
- MU zoning supports varied commercial uses
- Three vintage gas pumps and metal‑canopied work areas remain
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,437
Businesses Nearby
9k
Monthly Visits Nearby
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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Frequently Asked Questions
What type of property is this?
Gas station - 1934 building with MU zoning, retained pump features, and two bathrooms with showers near Canal Street and Riverside Park.
Where is this gas station located?
The property is located at 208 MAGNOLIA 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: 3,196 SF building constructed in 1934; MU zoning supports varied commercial uses; Three vintage gas pumps and metal‑canopied work areas remain
