| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 75th | Best |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 Robert St, New Smyrna Beach, FL, 32168, US |
| Region / Metro | New Smyrna Beach |
| Year of Construction | 1973 |
| Units | 96 |
| Transaction Date | 2014-01-07 |
| Transaction Price | $2,150,000 |
| Buyer | ROSE APTS LLC |
| Seller | TZADIK EAGLE BRIAR LLC |
200 Robert St New Smyrna Beach Multifamily Investment
Positioned in a suburban pocket with steady renter demand and everyday amenities, this asset benefits from neighborhood-level fundamentals that support leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy is measured for the surrounding area and trends steady, while incomes and household counts point to a growing tenant base.
New Smyrna Beach’s A- rated neighborhood (ranked 38 among 159 metro neighborhoods) offers investors balanced livability drivers: grocery access tests strong versus peers (top quartile nationally) and cafes/childcare density is competitive, while formal parks and pharmacies are limited within neighborhood boundaries. For multifamily, that mix translates to convenience-driven appeal with some amenity gaps that operators may offset with on-site offerings.
The average school rating sits around 4.0 out of 5 (top quartile nationally), a family-friendly signal that can support retention. Neighborhood-level occupancy is measured at the neighborhood (not the property) and tracks in the lower national quartiles, suggesting leasing strategies should emphasize renewals and targeted marketing to maintain stability.
Vintage context matters: the area’s average construction year is 1971, and the subject property’s 1973 vintage places it among older stock where selective capital planning can unlock value through modernization of systems and finishes. The average unit size of approximately 326 square feet skews small, aligning with observed shifts toward smaller households locally and can support efficient rents per square foot if positioned correctly.
Within a 3-mile radius, demographics show population and household growth with a modest downshift in household size, expanding the renter pool and supporting sustained demand for smaller formats. Median home values and ownership costs sit near national mid-range levels; in practice, this supports rental demand without excessive competition from entry-level ownership, helping pricing power and lease retention.
Safety indicators for the neighborhood track near national mid-range overall (around the 54th percentile nationally), indicating conditions broadly comparable to many U.S. neighborhoods. Within the Deltona–Daytona Beach–Ormond Beach metro, the neighborhood’s crime rank sits in the lower half relative to 159 neighborhoods, so operators should underwrite prudent security and lighting standards.
Recent trend signals are constructive: estimated violent offenses have declined year over year, and property offenses show a modest downward trend as well. These are neighborhood-level indicators rather than property-specific figures and should be validated during due diligence with updated, local sources.
Regional employers help support commuter-driven renter demand. Notable nearby presence includes the following corporate office within a reasonable drive.
- Symantec — corporate offices (30.7 miles)
This 96-unit, 1973 vintage asset in New Smyrna Beach offers exposure to a neighborhood with solid daily conveniences, strong school ratings, and a growing 3-mile renter base. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trends steady but below national leaders, suggesting value in focused renewals, targeted leasing, and amenity programming. The small average unit size can align with shrinking household sizes and aging systems present an avenue for value-add through modernization and energy-efficiency upgrades.
Household and income growth within 3 miles, coupled with mid-range ownership costs and rent-to-income dynamics, point to a tenant base with capacity to support rent levels without overextending, aiding lease retention and occupancy stability. Operators who address the limited public-park and pharmacy access locally with on-site services or partnerships may further differentiate the property.
- Population and household growth within 3 miles expands the renter pool and supports occupancy.
- 1973 vintage presents clear value-add potential via unit and systems modernization.
- Small average unit sizes align with smaller households, supporting rent per square foot.
- Strong school ratings and grocery access aid tenant retention despite limited nearby parks/pharmacies.
- Risk: neighborhood occupancy sits below national leaders, requiring active leasing and renewal management.