Marcus & Millichap Brokers Sale of Ocean Village Square in New Smyrna Beach for $8.4 Million

Strategic Insights -

Marcus & Millichap, a leading commercial real estate brokerage firm, has announced the sale of Ocean Village Square, a 60,631-square-foot shopping center in New Smyrna Beach, Florida, for $8.4 million. The center, located at 4154-4198 S. Atlantic Ave., sits on 8.68 acres and features a mix of local and regional tenants, including Nautilus Fitness NSB, Touch of Italy, and Atlantic Wellness Spa. The buyer, a private investor based in Central Florida, was procured by David Vaughan, managing director investments in Marcus & Millichap's Orlando office, and Ray Turchi, senior managing director investments.

Key Takeaways:

  • The sale of Ocean Village Square represents a significant commercial real estate transaction in the New Smyrna Beach area, with a purchase price of $8.4 million.
  • The center features a mix of local and regional tenants, including Nautilus Fitness NSB, Touch of Italy, and Atlantic Wellness Spa, making it a stable and attractive investment opportunity for the buyer.
  • David Vaughan and Ray Turchi, investment brokers with Marcus & Millichap's Orlando office, successfully procured the buyer and facilitated the transaction.
  • Ocean Village Square is located on 8.68 acres and sits on South Atlantic Avenue, the main coastal thoroughfare in New Smyrna Beach, providing easy access to the city's historic beachside district.
  • The sale is one of the many transactions completed by Marcus & Millichap in 2024, with the company closing 7,836 transactions and achieving a sales volume of approximately $49.6 billion.
  • Marcus & Millichap has a strong presence in the commercial real estate market, with over 1,712 investment sales and financing professionals in over 80 offices across the United States and Canada.

Statistics:

  • Purchase price: $8.4 million
  • Square footage: 60,631 square feet
  • Number of tenants: 10+ (mix of local and regional tenants)
  • Acres of land: 8.68
  • Sales volume (2024): approximately $49.6 billion
  • Number of transactions (2024): 7,836
  • Investment sales and financing professionals: 1,712 (as of December 31, 2024)
  • Offices: Over 80 (across the United States and Canada)

Sources:

  • Marcus & Millichap, Inc. press release (July 9, 2025)
  • https://www.marcusmillichap.com/news-events/press/2025/07/7-9-ocean-village-square