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    800 Florida A1A New Smyrna Beach, FL 32169

    Sponsored
    For Sale
    $3,800,000

    Prime Beachfront Retail Pharmacy, 8+ Years Remaining

    Property size:
    13,454 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple ownership of a Walgreens pharmacy located at 800 Florida A1A, New Smyrna Beach, Florida 32169. The property boasts a substantial 13,454 square feet (12,973 net rentable) on a 1.01-acre lot, built in 1993 and featuring 42 parking spaces. The single-story building sits on a highly visible, signalized intersection within a thriving trade area, offering convenient access and high visibility. Currently operating under a corporate-guaranteed, absolute NNN lease with Walgreens, the property provides exceptional security and consistent cash flow. The lease commenced July 1, 1992, and has a remaining term of approximately 8.3 years, expiring February 28, 2033, with three 5-year renewal options, each including a 1% rent bump. The current annual net operating income (NOI) is $159,999, resulting in a compelling 4.21% cap rate and a price per square foot of $282.44. The property is zoned 10B2 - Business General and benefits from its proximity to the beach and a liquor license. This is a rare opportunity to acquire a high-performing Walgreens location with a long-term lease and significant upside potential in a desirable coastal market. The asking price is $3,800,000.

    Property Features for 800 Florida A1A

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,454 SF
    Lot Size
    43,996 SF

    Building Details

    Year Built
    1993
    Buildings
    1
    Stories
    1

    HighLights

    • Fee‑simple ownership of a Walgreens pharmacy in New Smyrna Beach, FL.
    • 13,454 square foot building (12,973 net rentable) on a 1.01‑acre lot with 42 parking spaces.
    • High‑visibility location on a signalized intersection with convenient access.
    • Absolute NNN lease with Walgreens, corporate guaranteed, approximately 8.3 years remaining, plus three 5‑year renewal options with 1% rent bumps.
    • $159,999 annual NOI, 4.21% cap rate, $282.44 price per square foot.
    • Asking price: $3,800,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    Map

    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.892575380053
    Latitude
    29.028393323876

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    FAQs

    What type of property is this?
    Individual retail property - Prime Beachfront Retail Pharmacy, 8+ Years Remaining
    Where is this individual retail property located?
    The property is located at 800 Florida A1A New Smyrna Beach, FL.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: Fee-simple ownership of a Walgreens pharmacy in New Smyrna Beach, FL.; 13,454 square foot building (12,973 net rentable) on a 1.01-acre lot with 42 parking spaces.; High-visibility location on a signalized intersection with convenient access.
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    800 Florida A1A New Smyrna Beach, FL 32169
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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
    800 Florida A1A New Smyrna Beach, FL 32169
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