Mixed-Use Retail and Restaurant
For Sale
$1,575,000
307 FLAGLER Avenue, New Smyrna Beach, FL 32169
COMMERCIAL - NEW SMYRNA BEACH, FL
Property Size4,220 SF
Lot Size0.01 Acres
Price / SF$373.22
Days on Market338
Property Features for 307 FLAGLER Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU
Subdivision
CLOISTERS CONDO COMMERC
Directions
East off of US-1, right onto Washington heading East travel over the north bridge. Washington turns into Flagler.
Standard status
Active
APN
745526000030
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT C1 THE CLOISTERS CONDO OR 6213 PG 1873 PER OR 6221 PG 4475
Tax Annual Amount
1448
Legal Description
UNIT C1 THE CLOISTERS CONDO OR 6213 PG 1873 PER OR 6221 PG 4475
Utilities
Cooling system
Central Air
Amenities
courtyard
covered outdoor seating
Building Details
Year built
2002
Building materials
Block
Listing Agency:
ROSE PROPERTY MANAGEMENT INC
(407) 442-0291
Listed By:
Roxanne Rose · License #3249905
(407) 701-8959
Added: Sep 9, 2025
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# O6340009
Copyright © 2026 Stellar 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.
This five-parcel mixed-use property includes a retail storefront, two restaurant-related spaces, covered outdoor seating, and a second-floor residential condo above the retail. The retail space is 1,170 square feet and previously operated for 19 years as an upscale gift store, with a Series 2AP license noted for package wine and beer sales and wine tastings conducted at the adjacent restaurant. The restaurant space totals 920 square feet and features a cozy 6-stool bar, several tables, and a kitchen with gas appliances and a fire suppression hood system. An additional 443-square-foot restaurant space has been used for special events and storage, along with 900 square feet of covered outdoor seating in the courtyard under an existing lease from the Cloisters Condo Owners Assn.
The property is located on busy Flagler Avenue in New Smyrna Beach, designated with MU zoning. The combined retail and restaurant use provides 16 allocated parking spaces. The second-floor residence is a well-maintained 3-bedroom, 3-bath condo with an open floor plan and an air-conditioned 1-car garage (247 square feet), intended for owner or manager use.
The property is located on busy Flagler Avenue in New Smyrna Beach, designated with MU zoning. The combined retail and restaurant use provides 16 allocated parking spaces. The second-floor residence is a well-maintained 3-bedroom, 3-bath condo with an open floor plan and an air-conditioned 1-car garage (247 square feet), intended for owner or manager use.
Key Highlights
- 5‑parcel commercial property on busy historic Flagler Avenue in beachside New Smyrna Beach
- Retail space: 1,170 SF on Flagler Avenue, operated as an upscale gift store for 19 years
- Restaurant components include 920 SF restaurant space plus 443 SF restaurant/event space and 900 SF covered outdoor seating in a courtyard
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
$64,082
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
4.07%
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%
$1,281,640
$1.3M
Cap Rate 7%
$915,457
$915.5K
Cap Rate 9%
$712,022
$712.0K
Market Conditions
NOI Build-Up for 4,220 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
$92.7K $21.96/SF
− Vacancy
−$7.2K −$1.71/SF
EGI
$85.4K $20.25/SF
− OpEx
−$21.4K −$5.06/SF
NOI
$64.1K $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%
$1,281,640
Cap Rate 7%
$915,457
Cap Rate 9%
$712,022
Alternative Uses
Best Use
Specialty Retail
$915.5K
$801.0K – $1.07M
NOI $64,082 @ 7.0% cap · market cap 4.07%
Second Best
Retail
$567.8K
$496.8K – $662.4K
NOI $39,746 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,101 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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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- Tipton's Florist — 392 Causeway N, New Smyrna Beach, FL 32169
Frequently Asked Questions
What type of property is this?
Storefront property - Five-parcel mixed-use property with retail, restaurant spaces, covered courtyard seating, and a second-floor residence.
Where is this storefront property located?
The property is located at 307 FLAGLER Avenue New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 5‑parcel commercial property on busy historic Flagler Avenue in beachside New Smyrna Beach; Retail space: 1,170 SF on Flagler Avenue, operated as an upscale gift store for 19 years; Restaurant components include 920 SF restaurant space plus 443 SF restaurant/event space and 900 SF covered outdoor seating in a courtyard
