2373 Sr 44New Smyrna Beach, FL 32168

Property Details for 2373 Sr 44

Year built

1950

Lot size

0.45 AC

Property size (Sq ft)

1,750 SF

Property type

Office properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple 1,750 square foot commercial property located at 2373 SR 44 in New Smyrna Beach, Florida. The property, built in 1950 and renovated in 2021, sits on a 0.45-acre lot and boasts a desirable B4 zoning, allowing for a variety of uses including bank, QSR/fast food, and traditional office space. Currently operating under a triple-net lease (NNN) with a single tenant, the property offers a strong 6.46% cap rate and a substantial net operating income (NOI) of $67,800. The lease, with a remaining term of approximately 0.4 years, expires April 12, 2025. The property features 11 parking spaces and benefits from its location on a soft corner with frontage on both SR 44 (200 ft) and Timberland Dr (115 ft), ensuring high visibility and accessibility. Situated in a thriving commercial area with surrounding retail, office, and auto-related businesses, this property offers a solid foundation for continued success. All utilities are readily available, and the property is located in flood Zone X, outside the 100-year floodplain, eliminating environmental concerns. The property's convenient location, strong financial performance, and versatile zoning make it an ideal investment for discerning buyers. The property is a single-story building.

Location Insight

City

New Smyrna Beach

County

Volusia

State

Florida

Latitude

29.0136

Longitude

-80.9659

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