Live-Work Property with
For Sale
$389,000
607 N Dixie, New Smyrna Beach, FL 32168
COMMERCIAL - New Smyrna Beach, FL
Property Size988 SF
Lot Size0.13 Acres
Price / SF$393.72
Days on Market408
Property Features for 607 N Dixie
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Off Street, Garage, Carport
Lot features
Zero Lot Line
Directions
Hwy US1 / Rdgewood Ave
Subdivision
70 - New Smyrna Beach E of 95
Standard status
Active
APN
7441-02-00-0820
Size
988 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
N 25 FT OF LOT 82 & S 25 FT OF LOT 83 EXC RD RWY HAMMONDSNEW PER OR 5182 PG 2650 PER OR 6848 PG 2799 PER OR 7523 PG 4593
Tax Annual Amount
1386
Legal Description
N 25 FT OF LOT 82 & S 25 FT OF LOT 83 EXC RD RWY HAMMONDSNEW PER OR 5182 PG 2650 PER OR 6848 PG 2799 PER OR 7523 PG 4593
Building Details
Year built
1952
Floors in Building
1
Listing Agency:
Kincaid Realty
(386) 428-7800
Listed By:
Roger Kincaid · License #3027673
(386) 428-7800
Added: Jul 3, 2025
Changed: Aug 4
Last Checked: Aug 14 at 6:06AM
MLS# 1215246
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 live-work property combines a two-bedroom, one-bath residence with dedicated business space. The 672-square-foot workshop includes a half bath and laundry, while a separate 24-by-28-foot garage provides another half bath and two private offices. Off-street parking, a garage, and a carport are also included. The property was built in 1952 and received a new energy-efficient HVAC system with heat pump in 2022.
Positioned along US-1/Dixie Freeway in New Smyrna Beach’s Historic District, the property also offers a backstreet entrance for secondary access. The beach is 2.3 miles away, and the property has no flood history. With a 0.13-acre lot and multiple structures, the site accommodates residential living alongside workshop and office functions.
Positioned along US-1/Dixie Freeway in New Smyrna Beach’s Historic District, the property also offers a backstreet entrance for secondary access. The beach is 2.3 miles away, and the property has no flood history. With a 0.13-acre lot and multiple structures, the site accommodates residential living alongside workshop and office functions.
Key Highlights
- 672‑square‑foot workshop with half bath and laundry
- Detached 24‑by‑28‑foot garage with half bath and two private offices
- US‑1/Dixie Freeway frontage with a backstreet entrance
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
$14,805
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
3.81%
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%
$296,100
$296.1K
Cap Rate 7%
$211,500
$211.5K
Cap Rate 9%
$164,500
$164.5K
Market Conditions
NOI Build-Up for 988 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
$21.3K $21.60/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$19.7K $19.98/SF
− OpEx
−$4.9K −$5.00/SF
NOI
$14.8K $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%
$296,100
Cap Rate 7%
$211,500
Cap Rate 9%
$164,500
Alternative Uses
Best Use
Office B
$211.5K
$185.1K – $246.8K
NOI $14,805 @ 7.0% cap · market cap 3.81%
Second Best
Mixed Use
$174.3K
$152.6K – $203.4K
NOI $12,204 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,230
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Residential space, a workshop, and detached office facilities support flexible live-work use.
Where is this live-work space located?
The property is located at 607 N Dixie New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 672‑square‑foot workshop with half bath and laundry; Detached 24‑by‑28‑foot garage with half bath and two private offices; US‑1/Dixie Freeway frontage with a backstreet entrance
