2373 SR 44
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2373 SR 44
1,750 SF Office Building New Smyrna Beach, FL 32168 $1,050,000 ($600/SF) 6.46% Cap Rate
Investment Highlights
- Currently fully leased under a NNN lease structure until April 2025
- 0.45 acre of commercial property with level, fully usable land and on-site drainage.
- Surrounded by national tenants, including ALDI, Home Depot, Dunkin', Chevrolet, Ford, and Verizon.
- Owner is open to sale, lease or BTS
- Located on SR 44 with 200 ft frontage, offering high visibility with 38,000 vehicles passing daily.
- Tenant in place until April 13, 2025, under a NNN lease structure with a Net Operating Income (NOI) of $67,800.
Executive Summary
This 0.45-acre commercial property at 2373 SR44 in New Smyrna Beach, FL, spans 19,545 SF of level, fully usable land with a parallelogram shape and on-site drainage. Located in a commercial area surrounded by retail, office, and auto-related businesses, the property sits at a soft corner with frontage on both SR44 (200 ft) and Timberland Dr (115 ft), offering great level of access and visibility.
The property benefits from surrounding off-site improvements, including sidewalks, lighting, and paved roads, with all utilities readily available. Zoned B-4(C) under the City of New Smyrna Beach’s SR44 PUD, the site supports a variety of office and retail uses. Located in
flood Zone X and outside the 100-year floodplain, this property is free from environmental, wetland, or soil concerns, providing a solid foundation for commercial development.
The property benefits from surrounding off-site improvements, including sidewalks, lighting, and paved roads, with all utilities readily available. Zoned B-4(C) under the City of New Smyrna Beach’s SR44 PUD, the site supports a variety of office and retail uses. Located in
flood Zone X and outside the 100-year floodplain, this property is free from environmental, wetland, or soil concerns, providing a solid foundation for commercial development.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
1,750 SF
Building Class
C
Year Built
1950
Price
$1,050,000
Price Per SF
$600
Cap Rate
6.46%
NOI
$67,800
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,750 SF
Building FAR
0.09
Lot Size
0.45 AC
Zoning
B4
Parking
11 Spaces (6.29 Spaces per 1,000 SF Leased)
Amenities
- Signage
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PROPERTY TAXES
| Parcel Number | 7343-06-00-0272 | Improvements Assessment | $281,296 (2024) |
| Land Assessment | $249,199 (2024) | Total Assessment | $530,495 (2024) |
PROPERTY TAXES
Parcel Number
7343-06-00-0272
Land Assessment
$249,199 (2024)
Improvements Assessment
$281,296 (2024)
Total Assessment
$530,495 (2024)
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2373 SR 44
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