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    120 Old Mission Rd New Smyrna Beach, FL 32132

    Sponsored
    For Sale
    $48,999

    2.67 Acres, 5 Units, High Demand

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2.67-acre parcel, ideally situated off Old Mission Road near I-95 and Indian River Boulevard in Edgewater, Florida (Volusia County, zip code 32132), presents a compelling investment opportunity. Currently zoned for multifamily use, including apartments and mobile home parks, this property offers significant potential for development. The land boasts a substantial size (approximately 50 x 2670 feet), representing one of the largest available tracts in the prime Edgewater corridor. With five existing units and 26 pads, the property is priced at $48,999, representing a compelling $20,000 per acre land value and a $9,799.80 price per unit. The property is vacant and offers 50,000 square feet of air rights. The property's APN is 843801000981. The permitted zoning (MDR, Multifamily, Apartments) allows for various development scenarios, and a zoning change may be possible. This is a rare opportunity to acquire a large, well-located parcel in a high-demand area. The property is being sold as-is by the private owner. All cash offers will receive a written response within 24 hours. The property is classified as Class D with a 23% cap rate.

    Property Features for 120 Old Mission Rd

    General Information

    Property type
    Multifamily properties
    Class
    D
    Lot Size
    116,305 SF

    Building Details

    Units
    5

    HighLights

    • 50' x 2670' lot, one of the largest in Edgewater.
    • Priced at $65,000, accepting alternative currencies including gold and silver.
    • 2.67‑acre parcel, PIN 843801000981.
    • Listed by Miro Lakic, Executive Realty Network, 386‑761‑5676.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.938557318034
    Latitude
    28.963483194756

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    FAQs

    What type of property is this?
    Multifamily property - 2.67 Acres, 5 Units, High Demand
    Where is this multifamily property located?
    The property is located at 120 Old Mission Rd New Smyrna Beach, FL.
    What is the asking price?
    The asking price for this property is $48,999.
    What are key features of this property?
    This property features: 50' x 2670' lot, one of the largest in Edgewater.; Priced at $65,000, accepting alternative currencies including gold and silver.; 2.67-acre parcel, PIN 843801000981.
    Request Owner's contact information
    120 Old Mission Rd New Smyrna Beach, FL 32132
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    120 Old Mission Rd New Smyrna Beach, FL 32132
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