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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4603 Van Kleeck Dr New Smyrna Beach, FL 32169

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4177233
    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

    • Commercial real estate

    Property Details for 4603 Van Kleeck Dr

    Property type
    Commercial real estate

    Description

    This exceptional 14,810.4 square foot vacant commercial lot in New Smyrna Beach, Florida, presents a unique opportunity to build your dream project. Located on a prestigious street, this property boasts breathtaking panoramic views of the Atlantic Ocean and pristine beaches. A newly constructed seawall (completion anticipated in 2024) provides added protection and enhances the property's value. Situated outside New Smyrna Beach city limits, the lot falls under Volusia County building regulations, offering greater design flexibility. Renderings for a potential beachfront home are already complete, streamlining the development process. This is a rare chance to create a custom coastal haven in a highly sought-after Florida beach destination. The asking price is $2,100,000. The property's address is 4603 Van Kleeck Drive, New Smyrna Beach, FL 32169. This prime waterfront location offers an unparalleled lifestyle and significant investment potential. Don't miss this opportunity to own a piece of paradise.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.866063
    Latitude
    28.990219

    Comparable in this City

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      Desirable riverfront lot to build your custom home.
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    • $1,800,000

      Oceanfront Lot on Flagler Avenue

      Direct oceanfront commercial lot with seawall, development potential.
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      New Smyrna Beach Mixed-Use Lot

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      0.11 Acres

      Beachside Lot Ready to Build

      Vacant lot near Flagler Ave, ready for single-family home.
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    • $849,000
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      Vacant Lot Near Beach Access

      Vacant lot near beach, shops, and restaurants. Zoned for rentals.
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    • $1,195,000

      Beachfront Land, New Smyrna Beach

      Prime 7,500 SF oceanfront lot
      6498 Atlantic Ave, New Smyrna Beach, FL 32169
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    Similar Nearby for Sale

    • $499,900
      Pending

      Riverfront Lot in New Smyrna

      Desirable riverfront lot to build your custom home.
      Turtlemound Rd, New Smyrna Beach, FL 32169
      View Details
    • $1,800,000

      Oceanfront Lot on Flagler Avenue

      Direct oceanfront commercial lot with seawall, development potential.
      Buenos Aires Ave, New Smyrna Beach, FL 32169
      View Details
    • $1,400,000
      0.19 Acres

      New Smyrna Beach Mixed-Use Lot

      Mixed-use zoned lot near Flagler Ave, New Smyrna Beach.
      214 Columbus Ave, New Smyrna Beach, FL 32169
      View Details
    • $890,000
      0.11 Acres

      Beachside Lot Ready to Build

      Vacant lot near Flagler Ave, ready for single-family home.
      425 Columbus Ave, New Smyrna Beach, FL 32169
      View Details
    • $849,000
      0.11 Acres

      Vacant Lot Near Beach Access

      Vacant lot near beach, shops, and restaurants. Zoned for rentals.
      833 Maralyn Ave, New Smyrna Beach, FL 32169
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    • $699,900

      Prime Beachfront Commercial Land

      Central Beach lot, build-to-suit opportunity.
      437 Peninsula Ave, New Smyrna Beach, FL 32169
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    Similar Nearby for Lease

    • $25 SF/Yr
      1,372 SF

      Retail Space in Publix-Anchored Center

      Retail space available in a Publix-anchored shopping center.
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      Restaurant Space in New Smyrna Beach

      Restaurant space for rent in a prime location.
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      Beachside Professional Office Space

      Professional office space for lease in a centrally located building.
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      Retail Space Near Beach

      Retail space in Publix-anchored center near the beach.
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    • $3,600 /Mo

      Riverfront Condo with Intracoastal Views

      Charming condo with granite kitchen, tile floors, and waterfront balcony.
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      Beachside Office Space For Lease

      Professional office space for lease in vibrant beachside corridor.
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    4603 Van Kleeck Dr
    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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