Prime Commercial Property Near
For Sale
Contact for pricing
109 Magnolia Street, New Smyrna Beach, FL 32168
Versatile commercial building in historic downtown New Smyrna Beach.
Property Size2,658 SF
Price / SF$348.01
Days on Market649
Property Features for 109 Magnolia Street
General Information
Standard status
Active
Size
2,658 SF
Property subtype
Mixed Use
Zoning
10B1
Building Details
Year Built
1901
Listing Agency:
Kincaid Realty
(386) 428-7800
Listed By:
Roger Kincaid · License #3027673
Source:
Crexi
Added: Nov 12, 2024
Changed: Aug 23
Last Checked: May 12 at 9:23PM
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 Kincaid Realty
Investment Insights
Based on property information with market context.
This commercial property, located just off Canal Street in the historic downtown of New Smyrna Beach, presents an opportunity for various business ventures. The property is currently tenant-occupied, though the business itself is not for sale. The layout is designed to accommodate a range of uses, featuring four private offices, an executive suite with a fireplace, and six cubicle workstations. It also includes a spacious breakroom/kitchen, a large conference room, a reception area, and a storage room. The property has street-to-street frontage with dual entrances. With its location and adaptable space, this property is suitable for a restaurant, bar, office, or creative business concept. The property size is 2658 square feet.
Key Highlights
- Prime commercial property in the heart of New Smyrna Beach's historic downtown.
- Unbeatable foot traffic and visibility, just off Canal Street.
- Versatile space ideal for restaurant, bar, office, or creative business.
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
$39,830
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
4.31%
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%
$796,600
$796.6K
Cap Rate 7%
$569,000
$569.0K
Cap Rate 9%
$442,556
$442.6K
Market Conditions
NOI Build-Up for 2,658 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
$57.4K $21.60/SF
− Vacancy
−$4.3K −$1.62/SF
EGI
$53.1K $19.98/SF
− OpEx
−$13.3K −$5.00/SF
NOI
$39.8K $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%
$796,600
Cap Rate 7%
$569,000
Cap Rate 9%
$442,556
Alternative Uses
Best Use
Office B
$569.0K
$497.9K – $663.8K
NOI $39,830 @ 7.0% cap · market cap 4.31%
Second Best
Mixed Use
$469.0K
$410.4K – $547.2K
NOI $32,833 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$783.7K
$685.8K – $914.4K
NOI $54,861 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,437
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?
Mixed-use property - Versatile commercial building in historic downtown New Smyrna Beach.
Where is this mixed-use property located?
The property is located at 109 Magnolia Street New Smyrna Beach, FL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Prime commercial property in the heart of New Smyrna Beach's historic downtown.; Unbeatable foot traffic and visibility, just off Canal Street.; Versatile space ideal for restaurant, bar, office, or creative business.
