Office Space Near Space
For Sale
$110,000
102 Columbia Drive Unit 202, Cape Canaveral, FL 32920
Two offices with bathroom near Astronaut Boulevard.
Property Size470 SF
Price / SF$234.04
Days on Market156
Property Features for 102 Columbia Drive Unit 202
General Information
Standard status
Active
Size
470 SF
Class
B
Property subtype
Office
Building Details
Building Size
470 SF
Listing Agency:
(321) 750-3439
Listed By:
Zach Ullian, SIOR
(321) 750-3439
Source:
Ullianrealty
Added: Mar 6
Changed: Aug 8
Last Checked: Apr 6 at 1:19AM
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 Zach Ullian, SIOR
Investment Insights
Based on property information with market context.
This commercial property features two office spaces, each approximately 160 square feet, along with a full bathroom equipped with a shower, totaling 470 square feet. The property is situated directly on Astronaut Boulevard, a connector between State Road 528 and State Road 520, providing access to Interstate 95 and US Highway 1. The location is near Port Canaveral, Cape Canaveral Space Force Station, and Patrick Space Force Base. A variety of restaurants, shopping options, dining establishments, and childcare facilities are located in the vicinity. The property is intended for commercial use.
Key Highlights
- Directly on Astronaut Boulevard, a connector between SR 528 and SR 520.
- Immediate access to I‑95 and US1.
- Close proximity to Port Canaveral, Cape Canaveral Space Force Station, and Patrick Space Force Base.
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
$6,396
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
5.81%
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%
$127,920
$127.9K
Cap Rate 7%
$91,371
$91.4K
Cap Rate 9%
$71,067
$71.1K
Market Conditions
NOI Build-Up for 470 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
$10.2K $21.60/SF
− Vacancy
−$1.6K −$3.46/SF
EGI
$8.5K $18.14/SF
− OpEx
−$2.1K −$4.54/SF
NOI
$6.4K $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%
$127,920
Cap Rate 7%
$91,371
Cap Rate 9%
$71,067
Alternative Uses
Best Use
Office B
$91.4K
$80.0K – $106.6K
NOI $6,396 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$124.0K
$108.5K – $144.7K
NOI $8,680 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 32920, FL
9,984
Population
8,872
Households
1.1
Avg Household Size
58
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
403
Density / Sq Mi
$70,734
Median Household Income
$41,264
Median Earnings
$1,161
Median Rent
$323,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Two offices with bathroom near Astronaut Boulevard.
Where is this office units located?
The property is located at 102 Columbia Drive Unit 202 Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Directly on Astronaut Boulevard, a connector between SR 528 and SR 520.; Immediate access to I‑95 and US1.; Close proximity to Port Canaveral, Cape Canaveral Space Force Station, and Patrick Space Force Base.
