Investment Overview

Marcus & Millichap is pleased to present a rare opportunity to acquire a high-visibility shopping center in the heart of New Smyrna Beach, strategically located along the heavily trafficked South Dixie Freeway. With exceptional frontage and visibility and a daily traffic count of approximately 59,500 vehicles, the center is well-positioned as a premier retail destination for both tenants and consumers. The property boasts an elite parking ratio of 4.49 spaces per 1,000 SF, supported by multiple ingress and egress points, enhancing accessibility and convenience for shoppers. These features are key drivers in attracting and retaining top-performing tenants in a competitive retail market. Anchored by nationally recognized tenants such as Dollar General, AMC Theater, Planet Fitness, and Sherwin-Williams Paint Store, the center benefits from consistent year-round foot traffic and strong consumer loyalty. These anchors provide a stable foundation for long-term income generation. The tenant mix is well-diversified across retail, restaurant, and fitness categories, appealing to a broad demographic that includes both local residents and transient visitors. This diversity enhances the center’s resilience and overall consumer draw. Importantly, the center’s average in-place rent of $9.78/SF is significantly below the current market average of $25.59/SF, presenting a clear value-add opportunity. Investors can unlock upside potential through rent growth and lease-up strategies to align with prevailing market rates.