Mixed-Use Property with Office
For Sale
$649,000
3526 Ellis Lane, Mims, FL 32754
Commercial Sale, Mims, FL
Property Size3,128 SF
Lot Size1.38 Acres
Price / SF$207.48
Days on Market130
Property Features for 3526 Ellis Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial/Residential/Office
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Off Street, Parking Lot
Security features
Security System
Fencing
Fenced
Lot features
Cleared, Corner Lot
Directions
From Highway 1 & SR 46 go north, property is just past the True Value on the west side of the road.
Subdivision
101 - Mims/Scottsmoor
Standard status
Active
APN
21-35-07-00-00035.0-0000.00
Size
3,128 SF
Lot size
1.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PART OF S 1/2 OF NE 1/4 AS DES IN DB 303 PGS 286 & 570 EX 394 PG 591,404 PG 356 & 407 PG 46,ORB 53 PG 476,2485 PG 1524
Tax Annual Amount
4073
Legal Description
PART OF S 1/2 OF NE 1/4 AS DES IN DB 303 PGS 286 & 570 EX 394 PG 591,404 PG 356 & 407 PG 46,ORB 53 PG 476,2485 PG 1524
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
Amenities
covered entry
reception/common area
multiple private offices
open workspace
kitchen/break area
restroom
LED monument sign
covered storage/display areas
Building Details
Year built
1953
Floors in Building
1
Number of units
1
Flooring type
Tile, Carpet, Laminate
Building materials
Block
Roof type
Metal
Listing Agency:
Flag Agency Inc. · Century 21 Real Estate
(321) 267-3600
Listed By:
Chad P Conner · License #3142967
(321) 593-2096
Added: May 13
Changed: Sep 13
Last Checked: Sep 19 at 9:06AM
MLS# 1077198
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 3,128-square-foot finished office building on approximately 1.38 acres. The interior provides a covered entry, reception and common area, multiple private offices, open workspace, a kitchen and break area, and a restroom. Tile, carpet, and laminate flooring are installed throughout, with central heating and cooling. The block construction, metal roof, fenced site, parking lot, and off-street parking support a range of commercial operations.
BU-2 zoning accompanies access from Ellis Lane and an additional connection to US-1. The property has more than 400 feet of unobstructed Highway 1 frontage, along with an LED monument sign and covered storage or display areas. Open yard space and detached structures that may convey add outdoor capacity for equipment, inventory, storage, display, or future expansion. The site uses well water and a septic tank.
BU-2 zoning accompanies access from Ellis Lane and an additional connection to US-1. The property has more than 400 feet of unobstructed Highway 1 frontage, along with an LED monument sign and covered storage or display areas. Open yard space and detached structures that may convey add outdoor capacity for equipment, inventory, storage, display, or future expansion. The site uses well water and a septic tank.
Key Highlights
- Approximately 1.38 acres with more than 400 feet of unobstructed Highway 1 frontage
- 3,128‑square‑foot finished office building with private offices and open workspace
- BU‑2 zoning with access from Ellis Lane and an additional US‑1 connection
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,566
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$851,320
$851.3K
Cap Rate 7%
$608,086
$608.1K
Cap Rate 9%
$472,956
$473.0K
Market Conditions
NOI Build-Up for 3,128 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.6K $21.60/SF
− Vacancy
−$10.8K −$3.46/SF
EGI
$56.8K $18.14/SF
− OpEx
−$14.2K −$4.54/SF
NOI
$42.6K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$851,320
Cap Rate 7%
$608,086
Cap Rate 9%
$472,956
Alternative Uses
Best Use
Office B
$608.1K
$532.1K – $709.4K
NOI $42,566 @ 7.0% cap · market cap 6.56%
Second Best
Mixed Use
$518.5K
$453.7K – $604.9K
NOI $36,293 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$825.3K
$722.1K – $962.8K
NOI $57,768 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 32754, FL
11,996
Population
5,657
Households
2.1
Avg Household Size
50
Median Age
20%
College-Educated
91%
High-School Grad
136.9 sq mi
ZIP Area
88
Density / Sq Mi
$69,960
Median Household Income
$41,758
Median Earnings
$1,004
Median Rent
$260,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Finished office improvements combine private rooms, open work areas, support space, covered storage, and fenced outdoor areas.
Where is this mixed-use property located?
The property is located at 3526 Ellis Lane Mims, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Approximately 1.38 acres with more than 400 feet of unobstructed Highway 1 frontage; 3,128‑square‑foot finished office building with private offices and open workspace; BU‑2 zoning with access from Ellis Lane and an additional US‑1 connection
