Corner Restaurant and Bar
For Sale
$2,800,000
400 CANAL STREET, New Smyrna Beach, FL 32168
Commercial Sale, Other - NEW SMYRNA BEACH, FL
Property Size5,400 SF
Lot Size0.07 Acres
Price / SF$518.52
Days on Market208
Property Features for 400 CANAL STREET
General Information
Property type
Commercial Sale
Property subtype
Mixed Use
Interior features
Elevator
Accessibility
Accessible Elevator Installed
Subdivision
ANDREWS NEW SMYRNA
Directions
US-1 to Canal Street, East to 400 Canal.
Standard status
Active
APN
7441-38-20-2410
Size
5,400 SF
Lot size
0.07 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1918
Floors in Building
2
Roof type
Membrane
Architectural style
Other
Listing Agency:
Engel & Völkers New Smyrna Beach
(386) 213-6899
Listed By:
Garat Oates
(321) 271-0042
Added: Feb 2
Changed: Jul 15
Last Checked: Aug 29 at 10:06AM
MLS# NS1085596
Copyright © 2026 Engel & Völkers. 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 commercial property is a solid block construction building designed for restaurant or bar use, with high ceilings and an elevator. The offering includes 5,600 square feet of indoor space, along with an additional 2,800 square feet of rooftop area, for a total possible 8,400 square feet.
The building is situated as a corner location at Canal & Palmetto in downtown New Smyrna Beach, positioned within the active restaurant and retail scene.
The space is being marketed for sale or lease, and the owner indicates interest in a restaurant/bar concept for the premises, while remaining open to other options.
The building is situated as a corner location at Canal & Palmetto in downtown New Smyrna Beach, positioned within the active restaurant and retail scene.
The space is being marketed for sale or lease, and the owner indicates interest in a restaurant/bar concept for the premises, while remaining open to other options.
Key Highlights
- Prime corner location in the heart of downtown New Smyrna Beach.
- Substantial square footage: 5,600 Sq. Ft. with an additional 2,800 Sq. Ft. rooftop.
- Solid block construction with high ceilings and elevator.
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
$82,001
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
2.93%
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%
$1,640,020
$1.6M
Cap Rate 7%
$1,171,443
$1.2M
Cap Rate 9%
$911,122
$911.1K
Market Conditions
NOI Build-Up for 5,400 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
$118.6K $21.96/SF
− Vacancy
−$9.2K −$1.71/SF
EGI
$109.3K $20.25/SF
− OpEx
−$27.3K −$5.06/SF
NOI
$82.0K $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%
$1,640,020
Cap Rate 7%
$1,171,443
Cap Rate 9%
$911,122
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,001 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,456 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,484
Businesses Nearby
10k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 17%
Electronics 13%
Exxon
Shops & Services
4,745 visits/mo
0.2 miles
Take 5 Oil Change
Shops & Services
1,917 visits/mo
0.2 miles
Papa John's Pizza
Dining
1,635 visits/mo
0.3 miles
Metro by T-Mobile
Electronics
1,265 visits/mo
0.4 miles
Muffler Man
Shops & Services
278 visits/mo
0.2 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.
Similar Off Market Nearby
- UGAR WORKS DISTILLERY — New Smyrna Beach, FL 32168
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Block-built corner property with high ceilings and elevator, offering primary indoor space plus additional rooftop space.
Where is this bar & pub located?
The property is located at 400 CANAL STREET New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Prime corner location in the heart of downtown New Smyrna Beach.; Substantial square footage: **5,600 Sq. Ft.** with an additional **2,800 Sq. Ft. rooftop**.; Solid block construction with high ceilings and elevator.
