1,564 SqFt
1,564 SqFt
Key Details
Property Type Commercial
Sub Type Restaurant
Listing Status Active
Purchase Type For Sale
Square Footage 1,564 sqft
Price per Sqft $1,272
Subdivision Cooper Walker Grant
MLS Listing ID NS1086794
Construction Status Completed
HOA Y/N No
Year Built 1922
Annual Tax Amount $15,386
Lot Size 8,712 Sqft
Acres 0.2
Property Sub-Type Restaurant
Source Stellar MLS
Property Description
An exceptional income-producing asset located in the heart of Flagler Avenue—New Smyrna Beach's premier entertainment and tourism district. This fully renovated commercial property sits just five blocks from the ocean and benefits from one of the area's strongest foot-traffic environments, with over 8 million annual visitors to NSB. Zoned mixed-use and positioned within a high-growth coastal market, the property offers outstanding long-term appreciation potential and flexible redevelopment options.
The building is leased to a top-performing cigar lounge and restaurant known for its refined atmosphere, premium wood accents, leather armchairs, exclusive cigar selection, and gourmet Latin cuisine served from a balcony overlooking the avenue. The business enjoys a respected reputation, consistent 5-star reviews, experienced staff, and robust patron loyalty. Live music programming and on-site valet parking further elevate the venue's status as a flagship nightlife destination.
Current financial performance underscores the strength of this investment: tenants generate $14,500 per month in base rent with 3% annual escalations, producing more than $923,000 in rental income over five years. With property values in this corridor appreciating at approximately 9% annually, the asset is projected to gain more than $1 million in value over the same period—yielding nearly a 100% gross ROI. These concrete numbers demonstrate the property's exceptional stability and upward trajectory in one of Central Florida's most competitive coastal markets.
More than $300,000 in recent improvements include a new interior bar, expanded outdoor dining area, ADA-compliant restroom, specialized humidor room, and upgraded mechanical systems. The property is grandfathered for potential multi-story redevelopment, offering a rare zoning advantage in this high-demand beachfront district. Surrounded by boutique retail, restaurants, entertainment venues, and year-round cultural events, this location stands at the center of NSB's most active commercial corridor.
This is a rare opportunity to secure a high-yield, low-vacancy, appreciation-driven investment on one of the most valuable streets in New Smyrna Beach.
Location
State FL
County Volusia
Community Cooper Walker Grant
Area 32169 - New Smyrna Beach
Zoning 10B1
Interior
Heating Central
Cooling Central Air, Humidity Control
Flooring Reclaimed Wood, Tile
Exterior
Parking Features Parking Spaces - 6 to 12
Community Features Sidewalks
Utilities Available Electricity Available, Public, Water Connected
Roof Type Metal,Other,Shingle
Building
Lot Description Central Business District, City Limits, Sidewalk, Street Lights, Paved
Foundation Basement, Brick/Mortar, Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Septic Needed
Water Public
Structure Type Block,Frame
New Construction false
Construction Status Completed
Others
Ownership Sole Proprietor
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Special Listing Condition None
GET MORE INFORMATION
Agent | License ID: 3505918