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    Property profile & analytics

    2153 State Rd 44 New Smyrna Beach, FL 32168-8358

    • Grocery and convenience stores
    • 3,430 SF
    • 0.78 lot acres
    OFF-MARKET
    Last Sale
    May 04, 2025
    $781,500
    Value Estimations
    $715,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0595718
    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.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 2153 State Rd 44

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.78 lot acres
    Property size
    3,430 SF
    Zone code
    B4
    Property type
    Grocery and convenience stores
    APN
    7343-06-00-0512
    APU
    734306000512

    Description

    This exceptional investment opportunity presents a 4,086 square foot concrete block building situated on a 0.78-acre lot in New Smyrna Beach, Florida. The property boasts approximately 165 feet of road frontage on State Road 44, a main thoroughfare serving as a key gateway to the city. Its strategic location offers unparalleled visibility and accessibility, placing it within two miles of Interstate I-95, providing convenient access to major transportation routes. The building itself features a recently updated roof (January 2017) and is one of the few properties available east of I-95, a short distance from the beach. The property is zoned B4CA and R4CA, offering versatility for various commercial and residential uses. The asking price is $999,000, translating to a price per square foot of $312.04. This presents a rare chance to acquire a substantial property in a high-demand area with significant potential for future growth and development. The single-story building provides ample space for a variety of uses, and the large lot size allows for potential expansion or redevelopment. Don't miss this opportunity to own a piece of prime New Smyrna Beach real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $870,000
      6.5%
      $800,000
      7%
      $745,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $615,000
      Current use
      AUTO REPAIR, GARAGE
      $850,000
      Change: +39% Conversion: Difficult
      RETAIL STORES
      $765,000
      Change: +25% Conversion: Easy
      WAREHOUSE, STORAGE
      $710,000
      Change: +16% Conversion: Difficult
      MEDICAL BUILDING
      $640,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.9547
    Latitude
    29.0138
    CBSA code
    19660
    CBSA name
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,585
    $247,280
    $269,929
    $517,209
    -
    $247,280
    $269,929
    $517,209

    Comparable in this City

    • Value Estimation
      $7,230,000
      53,750 SF

      1835 State Rd 44

      GROCERY, SUPERMARKET • 53,750 SF
      1835 State Rd 44, New Smyrna Beach, FL 32168-8342
      View Details
    • Value Estimation
      $2,565,000
      17,804 SF

      2335 State Rd 44

      GROCERY, SUPERMARKET • 17,804 SF
      2335 State Rd 44, New Smyrna Beach, FL 32168-8205
      View Details
    • Value Estimation
      $6,340,000
      3,621 SF

      2699 State Rd 44

      CONVENIENCE STORE • 3,621 SF
      2699 State Rd 44, New Smyrna Beach, FL 32168-8312
      View Details
    • Value Estimation by Request
      2,604 SF

      751 Sugar Ml Dr

      CONVENIENCE STORE • 2,604 SF
      751 Sugar Ml Dr, New Smyrna Beach, FL 32168-2031
      View Details
    • Value Estimation
      $1,030,000
      5,995 SF

      3000 State Rd 44

      CONVENIENCE STORE • 5,995 SF
      3000 State Rd 44, New Smyrna Beach, FL 32168-8879
      View Details
    • Value Estimation by Request
      1,980 SF

      2790 State Rd 44

      CONVENIENCE STORE • 1,980 SF
      2790 State Rd 44, New Smyrna Beach, FL 32168-9330
      View Details

    Similar Nearby for Sale

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      0.22 Acres

      Historic Building in Thriving Community

      Unique 1934 building suitable for various businesses near Canal Street.
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    Similar Nearby for Lease

    • $1,876,547

      3950 FL-44, New Smyrna Beach, FL 32168

      Grocery and convenience stores
      3950 Fl-44, 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
    • $24 SF/Yr
      1,000 SF

      Retail Space in Volusia County

      Retail space with high visibility and strong tenant mix.
      1910-1988 State Road 44, New Smyrna Beach, FL 32168
      View Details
    • $32 SF/Yr
      3,120 SF

      Renovated Retail Space on Canal

      Completely renovated 3120 SF retail space on historic Canal Street.
      419 Canal St, New Smyrna Beach, FL 32168
      View Details
    • $14,400 /Mo

      Retail Space Near Downtown NSB

      1,200 sq ft retail space near downtown New Smyrna Beach.
      323 N Dixie Fwy, New Smyrna Beach, FL 32168
      View Details
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    New Smyrna Beach, FL 32168-8358
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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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