Versatile New Smyrna Beach
For Sale
Contact for pricing
405 Magnolia Street, New Smyrna Beach, FL 32168
Adaptable property in the heart of New Smyrna Beach.
Property Size1,808 SF
Price / SF$300.88
Days on Market193
Property Features for 405 Magnolia Street
General Information
Standard status
Active
Size
1,808 SF
Property subtype
Mixed Use, Special Purpose, Hospitality
Zoning
R-5
Building Details
Year Built
1916
Listing Agency:
The Keyes Company
(386) 690-1636
Listed By:
Travous Dever · License #3088591
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Jul 14 at 7:39PM
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 4-bedroom, 2-bath property is located in the heart of New Smyrna Beach on a versatile lot where the Arts Overlay District, Historic District, and R-5 Bed & Breakfast zoning converge. The property offers flexibility for residential and commercial use and is ideal for a live/work setup, select home-based businesses, creative studios, professional offices, or conversion to a Bed & Breakfast. Mature landscaping enhances its Southern charm, and front and rear porches set the tone for Florida living. Recent updates to the first-floor bathroom and chef-style kitchen with custom tile and newer appliances provide modern comfort while preserving historic character. Original hardwood floors run throughout the 1,808 square foot home. The first floor features a living room with a brick wood-burning fireplace, a separate dining area, updated kitchen, full bath, and a first-floor bedroom. Upstairs are the remaining bedrooms. Both porches feature new wood decking. Additional improvements include Andersen windows, storm doors, and a newer A/C system. The cleared backyard includes a hot tub surrounded by mature landscaping. Located minutes from dining, shopping, Riverside Park, the Brannon Center, arts venues, and the Atlantic Ocean, this property is positioned for residential living, income potential, or blended commercial use.
Key Highlights
- Rare, highly versatile lot with Arts Overlay District, Historic District, and R‑5 Bed & Breakfast zoning.
- Ideal live/work setup with potential for home‑based businesses.
- Updated chef‑style kitchen with custom tile and newer appliances, plus updated first‑floor bathroom.**
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
$27,093
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
4.98%
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%
$541,860
$541.9K
Cap Rate 7%
$387,043
$387.0K
Cap Rate 9%
$301,033
$301.0K
Market Conditions
NOI Build-Up for 1,808 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
$39.1K $21.60/SF
− Vacancy
−$2.9K −$1.62/SF
EGI
$36.1K $19.98/SF
− OpEx
−$9.0K −$5.00/SF
NOI
$27.1K $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%
$541,860
Cap Rate 7%
$387,043
Cap Rate 9%
$301,033
Alternative Uses
Best Use
Office B
$387.0K
$338.7K – $451.6K
NOI $27,093 @ 7.0% cap · market cap 4.98%
Second Best
Mixed Use
$319.0K
$279.2K – $372.2K
NOI $22,333 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$533.1K
$466.5K – $622.0K
NOI $37,317 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,395
Businesses Nearby
Explore this area
Business Placement
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 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?
Mixed-use property - Adaptable property in the heart of New Smyrna Beach.
Where is this mixed-use property located?
The property is located at 405 Magnolia Street New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $544,000.
What are key features of this property?
This property features: Rare, highly versatile lot with Arts Overlay District, Historic District, and R‑5 Bed & Breakfast zoning.; Ideal live/work setup with potential for home‑based businesses.; Updated chef‑style kitchen with custom tile and newer appliances, plus updated first‑floor bathroom.**
