Storefront Property with Detached
New
For Sale
$999,000
304 Flagler Avenue, New Smyrna Beach, FL 32169
Flexible mixed-use storefront with multiple rooms, wood finishes, a partial kitchen, and space for immediate occupancy.
Property Size2,421 SF
Price / SF$412.64
Days on Market5
Property Features for 304 Flagler Avenue
General Information
Standard status
Active
Size
2,421 SF
Property subtype
Commercial
Amenities
partially equipped kitchen area
1.5 bathrooms
detached outbuilding
wide storefront windows
wood floors
vaulted ceilings
indirect track lighting
Building Details
Year Built
1936
Buildings
2
Listing Agency:
THE KEYES COMPANY
(386) 690-1636
Listed By:
Travous Dever · License #3088591
Source:
Realtygroupfl
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 12:17PM
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 THE KEYES COMPANY
Investment Insights
Based on property information with market context.
This storefront property combines a customer-facing retail layout with several separate interior rooms. Wide display windows, glass entry doors, wood flooring, cedar and wood wall finishes, vaulted ceilings, and track lighting define the main space. The property also includes a partially equipped kitchen area and 1.5 bathrooms. A detached outbuilding adds separate utility for storage or garage use.
Located at 304 Flagler Avenue in New Smyrna Beach, the property sits within a commercial district featuring boutiques, restaurants, and attractions. Mixed-use zoning supports a range of commercial applications, including retail, café, and professional service operations. The building was constructed in 1936 and is available for immediate occupancy.
Located at 304 Flagler Avenue in New Smyrna Beach, the property sits within a commercial district featuring boutiques, restaurants, and attractions. Mixed-use zoning supports a range of commercial applications, including retail, café, and professional service operations. The building was constructed in 1936 and is available for immediate occupancy.
Key Highlights
- 2,421 property size
- Detached outbuilding for storage or garage use
- Mixed‑use zoning
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
$36,764
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
3.68%
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%
$735,280
$735.3K
Cap Rate 7%
$525,200
$525.2K
Cap Rate 9%
$408,489
$408.5K
Market Conditions
NOI Build-Up for 2,421 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
$53.2K $21.96/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$49.0K $20.25/SF
− OpEx
−$12.3K −$5.06/SF
NOI
$36.8K $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%
$735,280
Cap Rate 7%
$525,200
Cap Rate 9%
$408,489
Alternative Uses
Best Use
Specialty Retail
$525.2K
$459.6K – $612.7K
NOI $36,764 @ 7.0% cap · market cap 3.68%
Second Best
Retail
$325.7K
$285.0K – $380.0K
NOI $22,802 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$713.8K
$624.6K – $832.8K
NOI $49,969 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 73%
Shops & Services 27%
SpringHill Suites New Smyrna Beach
Hotels & Casinos
5,968 visits/mo
0.2 miles
7-Eleven
Shops & Services
4,739 visits/mo
0.1 miles
Hampton Inn New Smyrna Beach
Hotels & Casinos
4,642 visits/mo
0.2 miles
Coconut Palms Beach Resort II
Hotels & Casinos
2,373 visits/mo
0.4 miles
Demographics for 32169, FL
10,621
Population
12,339
Households
0.9
Avg Household Size
63
Median Age
49%
College-Educated
98%
High-School Grad
16.2 sq mi
ZIP Area
656
Density / Sq Mi
$99,260
Median Household Income
$65,500
Median Earnings
$1,754
Median Rent
$485,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Tipton's Florist — 392 Causeway N, New Smyrna Beach, FL 32169
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible mixed-use storefront with multiple rooms, wood finishes, a partial kitchen, and space for immediate occupancy.
Where is this storefront property located?
The property is located at 304 Flagler Avenue New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2,421 property size; Detached outbuilding for storage or garage use; Mixed‑use zoning
