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

    Hardy Ave New Smyrna Beach, FL 32168

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Hardy Ave

    Property type
    Land

    Description

    This exceptional 132,858 square foot commercial land parcel in New Smyrna Beach, Florida, presents a unique development opportunity. Located in the desirable Turnbull Shores area, this property comprises three parcels (633601007940, 633601007710, and 633601007650) and includes twenty individual lots, allowing for diverse development options within New Smyrna Beach building codes. Two existing homes are situated on the property: a 1,555 sq ft concrete block home at 2910 Hardy Ave, completely renovated with hurricane-proof features, and a 1,992 sq ft frame home at 2918 Hardy Ave. The renovated home could serve as a model home or office space. The property's prime location offers convenient access to Daytona International Airport and NSB Municipal Airport, as well as the Turnbull Bay boat launch. Nearby amenities include the New Smyrna Sports Complex, a 69-acre Ecological Preserve, and the Atlantic Center for the Arts, a renowned hub for artistic expression. This property is priced at $1,650,000 and offers unparalleled potential for creating a thriving residential or commercial development within a vibrant and sought-after community. The opportunity to build your vision in this desirable location is now available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.9612
    Latitude
    29.0688

    Comparable in this City

    • Value Estimation by Request

      4637 Kola Rd

      Land
      4637 Kola Rd, New Smyrna Beach, FL 32168
      View Details
    • Value Estimation by Request

      3001 Vlg St

      Multifamily properties
      3001 Vlg St, New Smyrna Beach, FL 32168
      View Details
    • Value Estimation by Request

      910 Magnolia St

      Land
      910 Magnolia St, New Smyrna Beach, FL 32168
      View Details
    • Value Estimation by Request
      1.00 Acre

      3400 Pioneer Trl

      Land • 1.00 Acre
      3400 Pioneer Trl, New Smyrna Beach, FL 32168
      View Details
    • Value Estimation by Request

      44 No Address State Rd

      Land
      44 No Address State Rd, New Smyrna Beach, FL 32168
      View Details
    • Value Estimation by Request
      2.77 Acres

      2728 Pioneer Trl

      Land • 2.77 Acres
      2728 Pioneer Trl, New Smyrna Beach, FL 32168
      View Details

    Similar Nearby for Sale

    • $827,500
      1.43 Acres

      Downtown New Smyrna Beach Land

      1.43 Acres, Mixed-Use Potential
      823 Canal St, New Smyrna Beach, FL 32168
      View Details
    • $1,275,000

      Sugar Mill Drive Development Opportunity

      7.5 Acres, Multifamily Potential, I-95 Proximity
      390 Sugar Mill Dr, New Smyrna Beach, FL 32168
      View Details
    • $350,000

      Prime Commercial Land, New Smyrna Beach

      14,810 sq ft lot, $350,000
      910 Magnolia St, New Smyrna Beach, FL 32168
      View Details
    • $199,000

      Prime Commercial Land, New Smyrna Beach

      7.5-Acre Lot, Partially Cleared, Utilities
      4685 Magnolia Rd, New Smyrna Beach, FL 32168
      View Details
    • Contact for pricing
      5.37 Acres

      Prime Commercial Land, New Smyrna Beach

      5.37 Acres, I-95 Visibility, High Growth
      225 Memorial Pkwy, New Smyrna Beach, FL 32168
      View Details
    • $399,000
      900 SF

      Prime Dixie Hwy Mixed-Use

      Historic District gem, high visibility.
      607 Dixie Fwy, New Smyrna Beach, FL 32168
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land on South Dixie Freeway

      Commercial land for rent on a high-traffic thoroughfare.
      S Myrtle Ave, New Smyrna Beach, FL 32168
      View Details
    • $35 SF/Yr
      3,120 SF

      Canal Street Mixed-Use Space

      Historic New Smyrna Beach gem. Ideal for coworking.
      419 Canal St, New Smyrna Beach, FL 32168
      View Details
    • Contact for pricing
      6 SF

      Retail Space For Lease

      Retail space available for lease.
      1724 Florida 44, New Smyrna Beach, FL 32168
      View Details
    • New
      $2,900 /Mo
      2,000 SF

      New Smyrna Beach Commercial Space

      Commercial space with garage, office, and fenced outdoor area.
      210 Magnolia St, New Smyrna Beach, FL 32168
      View Details
    • $136,800
      5,700 SF

      Downtown Space in New Smyrna Beach

      Prime commercial space in the heart of New Smyrna Beach.
      400 Canal St, New Smyrna Beach, FL 32168
      View Details
    • $22 SF/Yr
      2,015 SF

      Venetian Bay Deli Space For Lease

      Prime 2,015 SF Deli, High-Traffic Location
      424 Luna Bella Ln, New Smyrna Beach, FL 32168
      View Details
    Request Owner's contact information
    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.
    Hardy Ave
    New Smyrna Beach, FL 32168
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.