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    1236 Wayne Ave New Smyrna Beach, FL 32168
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    1236 Wayne Ave New Smyrna Beach, FL 32168

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    • Residential land & home lots
    Off-Market
    Property ID
    US18-8201561
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 1236 Wayne Ave

    Property type
    Residential land & home lots

    Description

    Once in a lifetime opportunity! Situated in a well established neighborhood in New Smyrna Beach, a charming coastal city known for its beautiful beaches and vibrant atmosphere. The property's central position allows for easy access to all the amenities that the area has to offer. Less than 5 minutes to downtown Canal Street, 3 minutes to Hidden Lakes Golf Course, and 4 miles to the beach, this property has everything you need within minutes! With the scarcity of buildable lots in the area, you don't want to miss out on this one! Zoned for Chisholm Elementary, which boasts an 8/10 rating and prides itself in the gifted program, this lot is perfect for families as well. Its prime location makes for an attractive prospect for potential homeowners and investors!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.9501958
    Latitude
    29.0280793

    Comparable in this City

    • $590,000
      7.50 Acres

      Cleared Land Ready to Build

      7.5 acre lot near beaches and I-95.
      469 N Samsula Dr, New Smyrna Beach, FL 32168
      View Details
    • $285,000
      1.00 Acre

      One Acre Homesite in Gated Community

      One acre homesite in gated community of Liberty Village.
      2327 Legacy Ln, New Smyrna Beach, FL 32168
      View Details
    • $333,000
      1.00 Acre

      Luxury Homesite in Gated Community

      One-acre homesite in Liberty Village, New Smyrna Beach.
      2307 Legacy Ln, New Smyrna Beach, FL 32168
      View Details
    • $299,900
      5.00 Acres

      New Smyrna Beach Lakefront Homesite

      5-acre lakefront lot in New Smyrna Beach, no HOA.
      2750 Pearl Lake Trl, New Smyrna Beach, FL 32168
      View Details
    • $68,500
      0.22 Acres

      Residential Land in New Smyrna

      Residential land in established neighborhood, close to beaches and amenities.
      332 Patricia Dr, New Smyrna Beach, FL 32168
      View Details
    • New
      $79,000
      0.88 Acres

      Spacious Vacant Lot Opportunity

      Nearly ¾-acre vacant lot in a desirable location.
      Cherry St, New Smyrna Beach, FL 32168
      View Details

    Similar Nearby for Sale

    • $590,000
      7.50 Acres

      Cleared Land Ready to Build

      7.5 acre lot near beaches and I-95.
      469 N Samsula Dr, New Smyrna Beach, FL 32168
      View Details
    • $285,000
      1.00 Acre

      One Acre Homesite in Gated Community

      One acre homesite in gated community of Liberty Village.
      2327 Legacy Ln, New Smyrna Beach, FL 32168
      View Details
    • $333,000
      1.00 Acre

      Luxury Homesite in Gated Community

      One-acre homesite in Liberty Village, New Smyrna Beach.
      2307 Legacy Ln, New Smyrna Beach, FL 32168
      View Details
    • $299,900
      5.00 Acres

      New Smyrna Beach Lakefront Homesite

      5-acre lakefront lot in New Smyrna Beach, no HOA.
      2750 Pearl Lake Trl, New Smyrna Beach, FL 32168
      View Details
    • $68,500
      0.22 Acres

      Residential Land in New Smyrna

      Residential land in established neighborhood, close to beaches and amenities.
      332 Patricia Dr, New Smyrna Beach, FL 32168
      View Details
    • New
      $79,000
      0.88 Acres

      Spacious Vacant Lot Opportunity

      Nearly ¾-acre vacant lot in a desirable location.
      Cherry St, 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
    • Contact for pricing

      Commercial Office/Warehouse Space Available

      Unique commercial property with office, warehouse, and storage space.
      1311 N Dixie Fwy, 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
    • $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
    • $99,840

      Renovated Commercial Building on Canal

      Completely renovated 3120 SF commercial building in New Smyrna Beach.
      419 Canal St, New Smyrna Beach, FL 32168
      View Details
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    1236 Wayne Ave
    New Smyrna Beach, FL 32168
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    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
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