Historic Gas Station
For Sale
$1,299,000
208 Magnolia Street, New Smyrna Beach, FL 32168
Commercial Sale, New Smyrna Beach, FL
Property Size3,196 SF
Lot Size0.22 Acres
Price / SF$406.45
Days on Market562
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 1, Bathroom 2
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
Amenities
bathrooms with showers
metal canopied work areas
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 20
Last Checked: Aug 29 at 10:06PM
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.
Built in 1934, this 3,196-square-foot gas station property combines a brick and stucco structure with a metal roof and central air. The site retains three vintage fuel pumps and metal-canopied service areas, while the underground gas tanks were removed in 2006. Interior amenities include two bathrooms, each equipped with a shower, and secured parking is provided.
The property occupies 0.22 acres at 208 Magnolia Street in New Smyrna Beach, one block from Canal Street and near Riverside Park and The Hub on Canal. Canal Street is described as a corridor of restaurants, retail shops, and community events. The property has MU zoning, public water, and public sewer service.
The property occupies 0.22 acres at 208 Magnolia Street in New Smyrna Beach, one block from Canal Street and near Riverside Park and The Hub on Canal. Canal Street is described as a corridor of restaurants, retail shops, and community events. The property has MU zoning, public water, and public sewer service.
Key Highlights
- 3,196‑square‑foot gas station building constructed in 1934
- Three vintage gas pumps with metal‑canopied service areas
- Underground gas tanks removed in 2006
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - MU-zoned commercial property retains original fuel-service features and offers public water and sewer connections.
Where is this gas station 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: 3,196‑square‑foot gas station building constructed in 1934; Three vintage gas pumps with metal‑canopied service areas; Underground gas tanks removed in 2006
