Commercial Land with Four-Unit
For Sale
$380,000
0-3172 Highway 1, Mims, FL 32754
Existing improvements include a four-unit building suited to varied commercial business configurations.
Property Size1,024 SF
Price / SF$371.09
Days on Market235
Property Features for 0-3172 Highway 1
General Information
Standard status
Active
Size
1,024 SF
Taxes and HOA fees
Annual Taxes
$1,557
Listing Agency:
Crescent Moon R.E. & Inv. LLC
(321) 759-4216
Listed By:
Thomas D Miller · License #3132209
(321) 759-4216
Source:
Exprealty
Added: Jan 7
Changed: Aug 30
Last Checked: Aug 30 at 1:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Crescent Moon R.E. & Inv. LLC
Investment Insights
Based on property information with market context.
This commercial land property includes a current building divided into four units. The existing configuration is described for possible use by a used car lot, retail businesses, offices, professional services, or a laundromat.
The property is addressed on Highway 1 in MIMS, Florida, with RV parks and residential homes located nearby. The remarks also identify redevelopment concepts such as a gas station or restaurant, in addition to continued use of the existing building.
The property is addressed on Highway 1 in MIMS, Florida, with RV parks and residential homes located nearby. The remarks also identify redevelopment concepts such as a gas station or restaurant, in addition to continued use of the existing building.
Key Highlights
- Current building contains 4 units
- Highway 1 address in MIMS, FL 32754
- Nearby RV parks and residential homes
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
$11,806
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
3.11%
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%
$236,120
$236.1K
Cap Rate 7%
$168,657
$168.7K
Cap Rate 9%
$131,178
$131.2K
Market Conditions
NOI Build-Up for 1,024 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
$18.4K $18.00/SF
− Vacancy
−$1.6K −$1.53/SF
EGI
$16.9K $16.47/SF
− OpEx
−$5.1K −$4.94/SF
NOI
$11.8K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$236,120
Cap Rate 7%
$168,657
Cap Rate 9%
$131,178
Alternative Uses
Best Use
Retail
$168.7K
$147.6K – $196.8K
NOI $11,806 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$270.2K
$236.4K – $315.2K
NOI $18,911 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
34k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Dining 2%
Raceway
Shops & Services
10,907 visits/mo
0.2 miles
Kangaroo Express
Shops & Services
5,546 visits/mo
0.3 miles
Dollar Tree
Shops & Services
5,118 visits/mo
0.2 miles
Dollar General
Shops & Services
4,294 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
3,354 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Existing improvements include a four-unit building suited to varied commercial business configurations.
Where is this commercial land located?
The property is located at 0-3172 Highway 1 Mims, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Current building contains 4 units; Highway 1 address in MIMS, FL 32754; Nearby RV parks and residential homes
