Renovated Corner Retail
For Sale
$499,000
362 Flagler Avenue, New Smyrna Beach, FL 32169
Commercial Sale, New Smyrna Beach, FL
Property Size1,000 SF
Lot Size0.01 Acres
Price / SF$499
Days on Market129
Property Features for 362 Flagler Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking features
Off Street, Driveway, On Street, Parking Lot
Directions
Flagler Ave To Colony Place
Subdivision
70 - New Smyrna Beach E of 95
Standard status
Active
APN
7455-25-00-0130
Size
1,000 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COMMERCIAL UNIT 13 COLONY CONDO PER OR 5610 PG 0376 PER OR 5978 PG 4764 PER OR 5978 PG 4765 PER OR 6252 PG 2589 PER OR 7033 PG 3828 PER OR 7631 PGS 0139-0141 INC PER OR 8148 PG 4576
Tax Annual Amount
3195
HOA Fee
$499 Monthly
Legal Description
COMMERCIAL UNIT 13 COLONY CONDO PER OR 5610 PG 0376 PER OR 5978 PG 4764 PER OR 5978 PG 4765 PER OR 6252 PG 2589 PER OR 7033 PG 3828 PER OR 7631 PGS 0139-0141 INC PER OR 8148 PG 4576
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units, Central Air
Water source
Public
Amenities
private restroom
2 entrances
Building Details
Year built
2005
Listing Agency:
Kincaid Realty
(386) 428-7800
Listed By:
Roger Kincaid · License #3027673
(386) 846-0049
Added: May 6
Changed: Aug 20
Last Checked: Sep 11 at 10:06AM
MLS# 1226086
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.
This 1,000-square-foot retail space at 362 Flagler Avenue combines Units 13 and 14 into a renovated corner property with an open interior, 8-foot ceilings, recessed lighting, and a private restroom. The configuration can remain integrated or be separated into two individual units, with two entrances supporting a flexible layout. The building was constructed in 2005.
The property is served by public water and public sewer. Parking options include off-street spaces, a driveway, on-street parking, and a parking lot. Its New Smyrna Beach location places the space on Flagler Avenue within the Colony Courtyard complex.
The property is served by public water and public sewer. Parking options include off-street spaces, a driveway, on-street parking, and a parking lot. Its New Smyrna Beach location places the space on Flagler Avenue within the Colony Courtyard complex.
Key Highlights
- 1,000 square feet combining Units 13 and 14
- Renovated corner retail space in Colony Courtyard
- Open layout with 8‑foot ceilings and recessed lighting
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
$14,985
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
3.00%
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%
$299,700
$299.7K
Cap Rate 7%
$214,071
$214.1K
Cap Rate 9%
$166,500
$166.5K
Market Conditions
NOI Build-Up for 1,000 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
$21.6K $21.60/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$20.0K $19.98/SF
− OpEx
−$5.0K −$5.00/SF
NOI
$15.0K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /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%
$299,700
Cap Rate 7%
$214,071
Cap Rate 9%
$166,500
Alternative Uses
Best Use
Office B
$214.1K
$187.3K – $249.8K
NOI $14,985 @ 7.0% cap · market cap 3.00%
Second Best
Retail
$134.6K
$117.7K – $157.0K
NOI $9,419 @ 7.0% cap · market cap 1.89%
Theoretical Best
Office A
$294.9K
$258.0K – $344.0K
NOI $20,640 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Office units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office 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?
Retail space - Flexible commercial layout with two entrances, a private restroom, and public water and sewer service.
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: 1,000 square feet combining Units 13 and 14; Renovated corner retail space in Colony Courtyard; Open layout with 8‑foot ceilings and recessed lighting
