Three-Building Medical and Office
For Sale
$990,000
629 Dixie Freeway, New Smyrna Beach, FL 32168
Three leased buildings on one lot with block/masonry construction and ample parking, positioned on 100' frontage.
Property Size3,440 SF
Lot Size0.29 Acres
Price / SF$287.79
Days on Market3155
Property Features for 629 Dixie Freeway
General Information
Standard status
Active
Size
3,440 SF
Lot size
0.29 Acres
Property subtype
General Commercial
Zoning
B3
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Window/Wall Unit
3
Tar Gravel, Flat, Concrete
100x125
Sidewalks, Out Building. Curbs Walk, US Highway, Asphalt.
Building Details
Year Built
1961
Stories
1
Construction
Block/Masonry
Tenancy
Multi
Listing Agency:
The Barnett Group Inc.
(386) 295-9999
Listed By:
Arnold Traub
(386) 295-9999
Source:
Xome
Added: Dec 22, 2017
Changed: Aug 8
Last Checked: Aug 12 at 3:23AM
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 Barnett Group Inc.
Investment Insights
Based on property information with market context.
This offering consists of three fully leased buildings on a single 100' x 125' lot with block/masonry construction and ample parking. Building #1 includes 1,984 square feet and is occupied by a medical/health care provider; the property notes a new roof, new AC, and a new electrical panel. Building #2 totals 1,050 square feet and is occupied by a yoga studio. Building #3 totals 406 square feet and is occupied by a coffee roasting business with no retail; the rear building is described as using a wall/window unit.
The buildings are located on 100' of frontage in the US-1 Central Business District, close to SR-44. The exterior has been refurbished and tenants have updated the interiors, and the property indicates the buildings have just completed a maintenance cycle. Existing signage includes one monument sign and one building sign included in the sale.
B3 mixed-use zoning is noted. The sale includes both 629 and 633 N Dixie Freeway, the rear building, and the balance of leases.
The buildings are located on 100' of frontage in the US-1 Central Business District, close to SR-44. The exterior has been refurbished and tenants have updated the interiors, and the property indicates the buildings have just completed a maintenance cycle. Existing signage includes one monument sign and one building sign included in the sale.
B3 mixed-use zoning is noted. The sale includes both 629 and 633 N Dixie Freeway, the rear building, and the balance of leases.
Key Highlights
- Three fully leased buildings on one lot at 629 & 633 N Dixie Freeway, block/masonry construction
- 100' x 125' (12,500 SF) lot with 100' frontage on busy US‑1 Central Business District near SR‑44
- Building #1: 1,984 SF (1961) medical/health care tenant; new roof, AC, and electrical panel reported
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
$51,548
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
5.21%
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%
$1,030,960
$1.0M
Cap Rate 7%
$736,400
$736.4K
Cap Rate 9%
$572,756
$572.8K
Market Conditions
NOI Build-Up for 3,440 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
$74.3K $21.60/SF
− Vacancy
−$5.6K −$1.62/SF
EGI
$68.7K $19.98/SF
− OpEx
−$17.2K −$5.00/SF
NOI
$51.5K $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%
$1,030,960
Cap Rate 7%
$736,400
Cap Rate 9%
$572,756
Alternative Uses
Best Use
Office B
$736.4K
$644.4K – $859.1K
NOI $51,548 @ 7.0% cap · market cap 5.21%
Second Best
Healthcare Medical
$714.9K
$625.6K – $834.1K
NOI $50,044 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$1.01M
$887.5K – $1.18M
NOI $71,002 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
833
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Three leased buildings on one lot with block/masonry construction and ample parking, positioned on 100' frontage.
Where is this medical office space located?
The property is located at 629 Dixie Freeway New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Three fully leased buildings on one lot at 629 & 633 N Dixie Freeway, block/masonry construction; 100' x 125' (12,500 SF) lot with 100' frontage on busy US‑1 Central Business District near SR‑44; Building #1: 1,984 SF (1961) medical/health care tenant; new roof, AC, and electrical panel reported
