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Mixed-Use Opportunity Zone Property
For Sale
$345,000

585 WASHINGTON St, New Smyrna Beach, FL 32168

Duplex and vacant lot in a short-term rental zone.

Property SizeContact for details
Lot Size0.27 Acres
Days on Market173

Property Features for 585 WASHINGTON St

General Information

Standard status Active
Lot size 0.27 Acres
Property subtype Commercial

Building Details

Year Built 1937
Listing Agency: Beachside Realty of Volusia County Inc.
Listed By: Lori Schmerler, PA
Source: Elliman
Added: Mar 10 Changed: Jul 10 Last Checked: Aug 28 at 2:27PM

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 Beachside Realty of Volusia County Inc.

Investment Insights

Based on property information with market context.

This property, located in a designated Opportunity Zone, features a duplex and a vacant lot suitable for building additional units or up to six short-term rental suites. The existing duplex at 585 Washington Street has two separate entrances, electric meters, water meters, and natural gas meters. The front entrance leads to a framed-out layout with two bedrooms, a flex room, and two bathrooms. The entrance at 304 Sheldon provides access to a two-bedroom, one-bath unit. The mixed-use zoning allows for a first-floor business or a bed and breakfast, with potential parking waivers in the historic district overlay. The special parking district allows for half of the city's parking requirements. Building heights in the New Smyrna Beach Historic District can reach up to 72 feet. The property is across from the Babes James Community Recreational Center and Splash Pad Park, and within walking distance of Pettis Park Sport Center, which includes covered pavilions, restroom facilities, a multi-purpose field, a double skate bowl, fitness stations, and courts for basketball, pickleball, racquetball, and tennis, as well as a playground and the Mary S Harrell Heritage Museum. Washington Street connects the Historic Westside to the North Causeway of Coronado Island, leading to Flagler Avenue and the ocean ramp. Flagler Avenue offers events, nightlife, restaurants, and shops. A new Interstate 95 exit is planned to direct traffic through the Westside to Washington Street, the North Bridge, and Flagler Avenue Beach ramp.

Key Highlights

  • Short‑term rental zone with potential for up to six suites, offering significant income potential.
  • Opportunity Zone location provides potential tax benefits for capital gains after 7 years.
  • Mixed‑use zoning allows for a variety of business opportunities, including a first‑floor business or bed and breakfast.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Bakery Daycare Center Tech Support Center Florist (Bike/Boat/Book/etc) Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,464
Businesses Nearby

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 Multifamily in South region

8.5% 2022
10.2% 2023
11.4% 2024
11.3% 2025
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Frequently Asked Questions

What type of property is this?
Duplex - Duplex and vacant lot in a short-term rental zone.
Where is this duplex located?
The property is located at 585 WASHINGTON St New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Short‑term rental zone with potential for up to six suites, offering significant income potential.; Opportunity Zone location provides potential tax benefits for capital gains after 7 years.; Mixed‑use zoning allows for a variety of business opportunities, including a first‑floor business or bed and breakfast.
More about this property
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