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    Versatile Titusville Commercial Space Title is generated by Realmo AI

    1923 KNOX MCRAE DRIVE, Titusville, FL 32780

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    For Sale
    $4,900,000

    Business - TITUSVILLE, FL

    Type:Business
    Property size:
    47,179 SF
    Lot size:
    5.93 Acres
    Price / SF:
    $103/SF
    Added:
    Mar 2, 2026
    Days on Market:
    75
    Last Refresh:
    May 16 at 9:06 pm

    Property Features for 1923 KNOX MCRAE DRIVE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    APN
    22352100258A
    Size
    47,179 SF
    Lot size
    5.93 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    27123

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1986
    Building materials
    Block, Concrete, Stucco
    Architectural style
    Other

    We can help!

    Listing Contact
    James Mutter
    James Mutter

    Listing agent James Mutter License #3218212

    Listing office MUTTER REALTY 346 S WASHINGTON AVE, FL

    Listing date Mar 2, 2026

    MLS# O6386765 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Over 47,000 sq ft of versatile space suitable for school, office, or retail use.
    • Over 10,000 sq ft of warehouse space included.
    • Abundant on‑site parking for customers and staff.
    • Excellent visibility and access in a well‑traveled area.
    • Includes 25 rooms and 5 bathrooms.
    • Built in 1986 with concrete, block, and stucco construction.

    Overview

    This 47,179 square foot unit in Titusville, Florida, offers diverse possibilities, including use as a school, office space, or retail build-out. The layout includes 25 rooms and 5 bathrooms, complemented by over 10,000 square feet of warehouse space. The property benefits from abundant on-site parking, enhancing convenience for both customers and staff. Situated in a well-traveled area, the property provides excellent visibility and access. The property is positioned to support long-term success. The property is being sold as is. A monthly association fee will be charged to all unit owners; the seller is currently working on setting up the association and fee. The entire shopping center is also for sale. The property is tenant occupied.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Steps Early Learning ... Daycare Center SC Step by ... Training Center The Harvest Church Church Boyz2Men with Purpose Family Recreation Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Titusville
    County
    Brevard
    State
    Florida
    Longitude
    -80.824784
    Latitude
    28.57105

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    FAQs

    What type of property is this?
    Mixed-use property - 47,000+ sq ft mixed-use space for sale in Titusville.
    Where is this mixed-use property located?
    The property is located at 1923 KNOX MCRAE DRIVE Titusville, FL.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: Over 47,000 sq ft of versatile space suitable for school, office, or retail use.; Over 10,000 sq ft of warehouse space included.; Abundant on‑site parking for customers and staff.
    (321) 269-9855
    We can help!
    Listing Contact
    James Mutter
    James Mutter
    Real Estate License ID: 3218212
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1923 KNOX MCRAE DRIVE, TITUSVILLE, FL 32780
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