Flagler Avenue Corner Commercial
362 FLAGLER AVENUE New Smyrna Beach, FL 32169
For Sale
$499,000
Rare, renovated double unit on Flagler Avenue. Flexible retail/office use.
Property Size986 SF
Lot Size0.01 Acres
Price / SF$506.09
Days on Market403
Property Features for 362 FLAGLER AVENUE
General Information
Standard status
Active
Size
986 SF
Lot size
0.01 Acres
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
KINCAID REALTY
(386) 428-7800
Listed By:
ROGER KINCAID · License #3027673
Source:
Corcoran
Added: Jun 23, 2025
Changed: Jul 6
Last Checked: Jul 29 at 1:49PM
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 KINCAID REALTY
Investment Insights
Based on property information with market context.
Located in Colony Courtyard on Flagler Avenue, this commercial property is a rare double unit. The corner unit, formed by combining two units, offers a fully remodeled space with an open floor plan totaling 1,000 square feet. The interior features 8' ceilings, recessed lighting, and a modern coastal design. The layout provides flexibility, as it can be maintained as a single unit or split back into two separate units. The property includes two entrances, accommodating retail, office, or dual use. It is equipped with a private restroom and loaded with upgrades. This turnkey property is suitable for various businesses, including a boutique, creative studio, or office. The property is located at 362 FLAGLER AVENUE, NEW SMYRNA BEACH, FL 32169.
Key Highlights
- Prime Commercial Property on Flagler Avenue
- Rare Double Unit (Units 13 & 14)
- Fully Renovated
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.3k | $21.60 |
| − Vacancy | −$1.6k | −$1.62 |
| EGI | $19.7k | $19.98 |
| − OpEx | −$4.9k | −$5.00 |
| NOI | $14.8k | $14.99 |
986 SF · lease $21.60/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$211.1K
$184.7K – $246.3K
NOI $14,775 @ 7.0% cap · market cap 2.96%
Second Best
Retail
$132.7K
$116.1K – $154.8K
NOI $9,287 @ 7.0% cap · market cap 1.86%
Theoretical Best
Office A
$290.7K
$254.4K – $339.2K
NOI $20,351 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Rare, renovated double unit on Flagler Avenue. Flexible retail/office use.
Where is this retail space located?
The property is located at 362 FLAGLER AVENUE New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime Commercial Property on Flagler Avenue; Rare Double Unit (Units 13 & 14); Fully Renovated
