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    429 E 3Rd Ave New Smyrna Beach, FL 32169
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    429 E 3Rd Ave New Smyrna Beach, FL 32169

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    • Waterfront Land
    For Sale
    $15,900,000
    View Listing →
    Waterfront Development Opportunity Near Beach For Sale
    $15,900,000

    Waterfront Development Opportunity Near Beach

    Waterfront property entitled for Hyatt Place near New Smyrna Beach.

    429 E 3rd Ave, New Smyrna Beach, FL 32169
    View Listing
    Property ID
    US18-1684288
    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

    • Waterfront Land

    Property Details for 429 E 3Rd Ave

    Property type
    Waterfront Land
    Property subtype
    Hotels

    Description

    Waterfront beachside Intracoastal access development opportunity just east of the New Smyrna Beach Intracoastal Waterway bridge on the south side of 3rd Avenue with approximately 1,000 ft of waterfront. Fully entitled for a Hyatt Place PUD site plan no. SP-30-18 good through 5-7-27. Prime location on A1A/3rd Ave overlooking the Intracoastal Waterway access and Indian River Lagoon estuary. This is the primary beach access from the Orlando Metro Area. This property is the gateway to New Smyrna Beach and the 3rd Avenue business district which features shopping, dining, entertainment, nearby historic Canal St and Flagler Ave. It is located a short walk to the Atlantic Ocean beaches, 20 minutes to Daytona International Airport, 1 hour to Orlando Airport and attractions.

    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
    -80.89974
    Latitude
    29.028385

    Comparable in this City

    • $15,750,000
      11.73 Acres

      Waterfront Development Opportunity in New Smyrna

      Beachside Intracoastal access development opportunity with waterfront.
      429 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details
    • $15,900,000

      Waterfront Development Opportunity in New Smyrna

      Beachside Intracoastal access development opportunity near shopping and dining.
      429 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details
    • $9,650,000
      12,408 SF

      Oceanfront Commercial Site in Florida

      Three-parcel oceanfront commercial site in New Smyrna Beach, Florida.
      1411 S Atlantic Ave, New Smyrna Beach, FL 32169
      View Details
    • $1,475,000
      0.09 Acres

      Ocean-Front Lot in Bethune Beach

      Exceptional ocean-front lot on a secluded, no-drive beach.
      S Atlantic Ave, New Smyrna Beach, FL 32169
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    • $1,475,000
      0.09 Acres

      Oceanfront Lot in New Smyrna

      Rare oceanfront lot zoned for 30-day rentals.
      S Atlantic Ave, New Smyrna Beach, FL 32169
      View Details
    • $15,750,000
      11.73 Acres

      Waterfront Development Opportunity in New Smyrna

      Beachside Intracoastal access development opportunity with waterfront.
      429 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details

    Similar Nearby for Sale

    • $15,750,000
      11.73 Acres

      Waterfront Development Opportunity in New Smyrna

      Beachside Intracoastal access development opportunity with waterfront.
      429 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details
    • $15,900,000

      Waterfront Development Opportunity in New Smyrna

      Beachside Intracoastal access development opportunity near shopping and dining.
      429 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details
    • $9,650,000
      12,408 SF

      Oceanfront Commercial Site in Florida

      Three-parcel oceanfront commercial site in New Smyrna Beach, Florida.
      1411 S Atlantic Ave, New Smyrna Beach, FL 32169
      View Details
    • $1,475,000
      0.09 Acres

      Ocean-Front Lot in Bethune Beach

      Exceptional ocean-front lot on a secluded, no-drive beach.
      S Atlantic Ave, New Smyrna Beach, FL 32169
      View Details
    • Contact for pricing

      Waterfront Development Opportunity in Florida

      Prime waterfront land entitled for Hyatt Place development.
      429 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Flagler Avenue Multi-Use Opportunity

      Rare multi-building property in vibrant beachside business district.
      411 Flagler Ave, New Smyrna Beach, FL 32169
      View Details
    • $3,407 /Mo
      2,097 SF

      New Smyrna Beach Office Space

      Well-maintained office space in high-visibility New Smyrna Beach location.
      701 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space Near Beach

      Retail space in Publix-anchored center near the beach.
      1331-1339 Saxon Dr, New Smyrna Beach, FL 32169
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    • Contact for pricing
      1,372 SF

      Retail Space in Publix-Anchored Center

      Retail space available in a Publix-anchored shopping center.
      761 E 3Rd Ave, New Smyrna Beach, FL 32169
      View Details
    • $4,000 /Mo
      1,912 SF

      Flagler Avenue Beachside Multi-Use Opportunity

      Rare multi-use property in vibrant Flagler Avenue beachside district.
      411 Flagler Ave, New Smyrna Beach, FL 32169
      View Details
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    New Smyrna Beach, FL 32169
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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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