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NSB Regional Shopping Center Sale 2 Retail Properties Offered at $19,542,881 CAD in New Smyrna Beach, FL
INVESTMENT HIGHLIGHTS
- Fully Leased & Stable Anchors - 100% occupancy with Beall’s, Ollie’s, Firehouse Subs, and other long-term tenants ensuring stable income.
- Starbucks outparcel can be sold separately to capture the 7.11% vs. 5.25% cap rate spread.
- Starbucks Growth Driver - Newly built (2024) Starbucks with a 10-year lease, 6 renewal options, and 10% rent increases every 5 years.
- Value-Add Upside + Starbucks Optionality - New leases from Hand & Stone and Cookies (2026) lift NOI to $1.067 million
- Publix-Anchored Strength - Part of a 213,000+ SF Publix-anchored center, with Publix ranked in the top 82% nationwide, driving consistent traffic.
- Passive NNN Investment - Majority NNN leases shift expenses to tenants, offering low-management ownership in a no state income tax jurisdiction.
EXECUTIVE SUMMARY
PRICE RECENTLY REDUCED - Atrium Commercial Real Estate is pleased to present the exclusive opportunity to acquire a 100% leased retail asset in one of Florida’s most vibrant coastal markets—New Smyrna Beach. Located along the high-traffic State Road 44 corridor, the New Smyrna Beach Regional Shopping Center represents a stabilized investment with immediate upside through value-add tenancy and pro forma yield enhancement. While the property currently generates in-place net operating income (NOI) of $925,784 reflecting a 6.6% blended cap rate, there is significant embedded upside through recent and pending lease activations: Hand & Stone Massage and Cookies (medicinal dispensary), two value-add tenants, are soon to be signed and slated to contribute rent beginning in early 2026.
Once fully stabilized, incorporating these rent streams and full reimbursements, the asset is projected to generate a proforma NOI of $1,066,664 that supports a 7.62% cap rate, at a $14 Million Sale Price positioning this shopping center well above average yields for similarly anchored Florida Retail Properties.
Once fully stabilized, incorporating these rent streams and full reimbursements, the asset is projected to generate a proforma NOI of $1,066,664 that supports a 7.62% cap rate, at a $14 Million Sale Price positioning this shopping center well above average yields for similarly anchored Florida Retail Properties.
DATA ROOM Click Here to Access
- Offering Memorandum
TAXES & OPERATING EXPENSES (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
TAXES & OPERATING EXPENSES (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
PROPERTY FACTS
| Price | $19,542,881 CAD | Number of Properties | 2 |
| Price / SF | $216.61 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7.62% | Total Building Size | 90,221 SF |
| Sale Type | Investment | Total Land Area | 20.40 AC |
| Status | Active |
| Price | $19,542,881 CAD |
| Price / SF | $216.61 CAD / SF |
| Cap Rate | 7.62% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 90,221 SF |
| Total Land Area | 20.40 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1906-1998 State Road 44, New Smyrna Beach, FL 32168 | Retail | 87,721 SF | 1987 | - |
| 1906 FL-44, New Smyrna Beach, FL 32168 | Retail | 2,500 SF | 2024 | - |
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NSB Regional Shopping Center Sale
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