Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Palmetto St New Smyrna Beach, FL 32132

    Sponsored
    For Sale
    $60,000

    Prime Edgewater location, multi-family potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    425
    This exceptional 12,109.68 square foot lot, located at 0 Palmetto Street in Edgewater, Florida, presents a unique investment opportunity. Zoned R-5 Multi-Family Residential, this property is suitable for development as a single-family home or a duplex. Comprising two adjacent vacant lots, each measuring 55 feet by 110 feet, the parcels must be combined to meet Edgewater City Building Department requirements for development. Road improvements will also be necessary to meet building codes. The property boasts a highly desirable location, just minutes from the popular New Smyrna Beach and within walking distance of the Intracoastal Waterway. Convenient access is provided via US1; turn west onto 10th Street, then take the first left onto Palmetto Street. Continue on Palmetto until you reach the dirt road; the lots are on the east side. The square footage is derived from tax records; while all information is believed to be accurate, it is not guaranteed. This is an excellent chance to acquire a substantial parcel in a thriving area with significant potential for residential development. Asking price is $60,000.

    Property Features for 0 Palmetto St

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Jordan Blouin

    Learn more

    HighLights

    • $60,000 asking price.
    • 12,109.68 sq ft lot.
    • Located in Edgewater, FL, 32132, near New Smyrna Beach.
    • Zoned R‑5 Multi‑Family Residential; suitable for single‑family home or duplex.
    • Two adjacent parcels requiring combination and road improvements per City of Edgewater requirements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.9159528
    Latitude
    29.0049933

    Nearby Similar for Sale

    • $995,000
      Pending

      Mixed-Use Quadruplex Near Canal Street

      Meticulously maintained quadruplex in downtown New Smyrna Beach, Florida.
      106 Live Oak St, New Smyrna Beach, FL 32168
      View Details
    • $7,490,000
      Pending

      Luxury Oceanfront Boutique Resort

      Premier oceanfront property with villas and private beach access.
      2901 S Atlantic Ave, New Smyrna Beach, FL 32169
      View Details
    • $899,000
      2,268 SF

      New Smyrna Beach Mixed-Use Property

      Mixed-use property near Canal Street, New Smyrna Beach.
      200 Live Oak St, New Smyrna Beach, FL 32168
      View Details
    • New
      $1,200,000
      1,758 SF

      Downtown Commercial Building with Drive-Thru

      Versatile commercial building in downtown New Smyrna Beach with parking.
      109 Causeway Dr N, New Smyrna Beach, FL 32169
      View Details
    • $1,200,000
      0.64 Acres

      Downtown Commercial Property with Drive-Thru

      Versatile commercial property in downtown New Smyrna Beach.
      109 Causeway Dr N, New Smyrna Beach, FL 32169
      View Details
    • $1,200,000
      1,758 SF

      New Smyrna Beach Commercial Opportunity

      B2-zoned commercial property in downtown New Smyrna Beach.
      109 Causeway Dr N, New Smyrna Beach, FL 32169
      View Details
    • $749,000
      2,070 SF

      Equestrian Estate Near New Smyrna Beach

      10-acre equestrian property with barn, greenhouse, and comfortable home.
      3834 Pioneer Trl, New Smyrna Beach, FL 32168
      View Details
    • $1,990,000
      1,564 SF

      Flagler Avenue Investment Opportunity

      High-yield commercial property in New Smyrna Beach's premier district.
      314 Flagler Ave, New Smyrna Beach, FL 32169
      View Details
    • $924,900
      4,422 SF

      Historic Mixed-Use Canal Street Property

      Three-story mixed-use property in New Smyrna Beach's historic district.
      204 Magnolia St, New Smyrna Beach, FL 32168
      View Details
    • $949,000
      2,571 SF

      Restaurant on Canal Street, Florida

      Unique restaurant opportunity on Canal Street in New Smyrna Beach.
      1001 Canal St, New Smyrna Beach, FL 32168
      View Details
    • $1,625,000
      6,102 SF

      Downtown New Smyrna Beach Office

      Multi-purpose commercial office building in the heart of downtown.
      205 Magnolia St, New Smyrna Beach, FL 32168
      View Details
    • $950,000
      2,357 SF

      Beachside Duplex Investment Opportunity

      Duplex near the ocean, ideal for rental income.
      319 Columbus Ave, New Smyrna Beach, FL 32169
      View Details

    FAQs

    What type of property is this?
    Land - Prime Edgewater location, multi-family potential.
    Where is this land located?
    The property is located at Palmetto St New Smyrna Beach, FL.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: $60,000 asking price.; 12,109.68 sq ft lot.; Located in Edgewater, FL, 32132, near New Smyrna Beach.
    Request Owner's contact information
    Palmetto St New Smyrna Beach, FL 32132
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Palmetto St
    New Smyrna Beach, FL 32132
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Palmetto St New Smyrna Beach, FL 32132
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jordan Blouin
    Learn more
    Google sign-in failed. Please try again or use another login method.