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Marcus & Millichap Brokers $8.4M Sale Of Ocean Village Square In New Smyrna Beach
SOLD
$8,400,000
Florida
See Similar DealsRetail60,631 SF
Sold 07/09/2025
SOLD
Marcus & Millichap Brokers $8.4M Sale Of Ocean Village Square In New Smyrna Beach
4154 South Atlantic Avenue
See Similar DealsRetail60,631 SF
Sold 07/09/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$138
Total Square Footage:60,631 SF
Transaction Type:Sale
The transaction involves a retail property located at 4154-4198 South Atlantic Avenue in New Smyrna Beach. The asset spans 9 acres and consists of 60,631 square feet of retail space. The sale price for the Ocean Village Square shopping center, which is anchored by Dollar General, was $8,400,000, resulting in a price per square foot of $139.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,400,000
- Square Footage: 60,631
- Address: 4154-4198 South Atlantic Avenue
- Market: New Smyrna Beach
- Acres: 9
- Brokers: David Vaughan & Ray Turchi - Marcus & Millichap
David Vaughan and Ray Turchi represented a Central Florida-based private investor in this acquisition. Marcus & Millichap facilitated the transaction, highlighting their involvement in the brokerage of this retail property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$448,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,843.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,820.29
Annual Debt Service$477,843.43
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