Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    615 3rd Ave New Smyrna Beach, FL 32169-3133

    • Retail space
    • 12,256 SF
    • 2.21 lot acres
    OFF-MARKET
    Value Estimations
    $1,820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0559377
    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

    • Retail space

    Property Details for 615 3rd Ave

    Year built
    2000
    Construction
    WOOD
    Lot size
    2.21 lot acres
    Property size
    12,256 SF
    Zone code
    B2
    Property type
    Retail space
    APN
    7416-05-26-0010
    APU
    741605260010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,925,000
      6.5%
      $1,775,000
      7%
      $1,650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,964,000
      Market price range: $1.96M - $4.84M
      AI Estimate
      $1,714,000
      Market price range: $1.48M - $4.99M

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

    Location Insight

    • Map
    • Local Demand
    City
    New Smyrna Beach
    County
    Volusia
    State
    Florida
    Longitude
    -80.897
    Latitude
    29.028
    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
    $30,122
    $809,153
    $808,923
    $1,618,076
    -
    $809,153
    $808,923
    $1,618,076

    Comparable in this City

    • Value Estimation by Request
      926 SF

      310 Flagler Ave

      RETAIL STORES (PERSONAL SERVICES) • 926 SF
      310 Flagler Ave, New Smyrna Beach, FL 32169-2639
      View Details
    • Value Estimation
      $565,000
      2,483 SF

      322 Jessamine Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,483 SF
      322 Jessamine Ave, New Smyrna Beach, FL 32169-2601
      View Details
    • Value Estimation
      $2,885,000
      12,973 SF

      800 A1a

      RETAIL STORES (PERSONAL SERVICES) • 12,973 SF
      800 A1a, New Smyrna Beach, FL 32169-2800
      View Details
    • Value Estimation by Request
      1,015 SF

      221 Flagler Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,015 SF
      221 Flagler Ave, New Smyrna Beach, FL 32169-2636
      View Details
    • Value Estimation by Request
      552 SF

      376 Flagler Ave

      RETAIL STORES (PERSONAL SERVICES) • 552 SF
      376 Flagler Ave, New Smyrna Beach, FL 32169-2639
      View Details
    • Value Estimation by Request
      1,702 SF

      304 Flagler Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,702 SF
      304 Flagler Ave, New Smyrna Beach, FL 32169-2639
      View Details

    Similar Nearby for Sale

    • $1,200,000
      0.64 Acres

      Downtown Commercial Property with Drive-Thru

      Versatile commercial property in downtown New Smyrna Beach.
      109 Causeway Dr N, New Smyrna Beach, FL 32169
      View Details
    • $965,000
      1,216 SF

      Retail Space Near Beach

      Prime retail space in New Smyrna Beach tourist district.
      415 Flagler Ave, New Smyrna Beach, FL 32169
      View Details
    • $1,200,000
      1,758 SF

      Downtown New Smyrna Beach Opportunity

      Versatile commercial property in high-traffic downtown location with potential drive-thru.
      109 Causeway Dr N, New Smyrna Beach, FL 32169
      View Details
    • $599,000
      986 SF

      Flagler Avenue Corner Commercial Unit

      Rare, renovated double unit on Flagler Avenue. Flexible retail/office use.
      362 Flagler Ave, New Smyrna Beach, FL 32169
      View Details
    • $599,000

      Flagler Avenue Prime Commercial Property

      Rare, renovated double unit on Flagler Avenue, flexible use.
      362 Flagler Ave, New Smyrna Beach, FL 32169
      View Details
    • $590,000
      1,140 SF

      Flagler Avenue Commercial Corner Unit

      Prime commercial space on Flagler Avenue in New Smyrna Beach.
      384 Flagler Ave, New Smyrna Beach, FL 32169
      View Details

    Similar Nearby for Lease

    • $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
    • $15,000 /Mo
      728 SF

      Restaurant Space in New Smyrna Beach

      Restaurant space for rent in a prime location.
      401 Flagler Ave, New Smyrna Beach, FL 32169
      View Details
    • 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
    • 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
      View Details
    • Contact for pricing
      7,800 SF

      Causeway Retail Space - New Smyrna Beach

      Prime Retail Space, Flexible Layouts, Florida
      302 Causeway Dr, New Smyrna Beach, FL 32169
      View Details
    • $40,891

      Beachside Office Space For Lease

      Office space for lease in vibrant New Smyrna Beach corridor.
      701 E 3Rd Ave, New Smyrna Beach, FL 32169
      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.
    615 3rd Ave
    New Smyrna Beach, FL 32169-3133
    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.
    Sign Up Successful!
    You now have access to more from Realmo!