Corner Office and Medical
For Sale
$309,000
104 GRACE AVENUE, Cocoa, FL 32922
Corner commercial property with SR 520 frontage and BU-2 zoning supporting professional and medical uses.
Property Size1,157 SF
Price / SF$267.07
Days on Market54
Property Features for 104 GRACE AVENUE
General Information
Standard status
Active
Size
1,157 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$2,072
Amenities
Central Air
Corner Lot.
Corner, State Road, Asphalt.
Building Details
Year Built
1950
Stories
1
Listing Agency:
BHHS RESULTS REALTY
(407) 343-8137
Listed By:
Jeffrey Perry
Source:
Xome
Added: Jul 1
Changed: Aug 23
Last Checked: Aug 22 at 9:02AM
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 BHHS RESULTS REALTY
Investment Insights
Based on property information with market context.
This corner mixed-use commercial property includes office and medical space and features approximately 125 feet of frontage on SR 520. The building is available for sale and is described as needing some TLC, offering an opportunity for an owner-operator or investor to update and tailor the space.
Zoned BU-2 Commercial, the property allows a range of business uses, including professional offices, title company, insurance agency, attorney, accounting, real estate, and medical, among others. Located at 104 Grace Ave in Cocoa, the corner positioning provides both visibility and access along SR 520.
The offering is well-suited for a buyer seeking flexible zoning and an office-oriented configuration on a high-traffic frontage corridor.
Zoned BU-2 Commercial, the property allows a range of business uses, including professional offices, title company, insurance agency, attorney, accounting, real estate, and medical, among others. Located at 104 Grace Ave in Cocoa, the corner positioning provides both visibility and access along SR 520.
The offering is well-suited for a buyer seeking flexible zoning and an office-oriented configuration on a high-traffic frontage corridor.
Key Highlights
- Corner commercial property with 125 ft of frontage on SR 520 for high‑traffic access
- BU‑2 Commercial zoning supports a variety of business uses, including professional offices and medical
- Zoning flexibility allows uses such as title company, insurance agency, attorney, accounting, and real estate
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
$15,744
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
5.10%
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%
$314,880
$314.9K
Cap Rate 7%
$224,914
$224.9K
Cap Rate 9%
$174,933
$174.9K
Market Conditions
NOI Build-Up for 1,157 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
$25.0K $21.60/SF
− Vacancy
−$4.0K −$3.46/SF
EGI
$21.0K $18.14/SF
− OpEx
−$5.2K −$4.54/SF
NOI
$15.7K $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%
$314,880
Cap Rate 7%
$224,914
Cap Rate 9%
$174,933
Alternative Uses
Best Use
Office B
$224.9K
$196.8K – $262.4K
NOI $15,744 @ 7.0% cap · market cap 5.10%
Second Best
Healthcare Medical
$208.0K
$182.0K – $242.7K
NOI $14,562 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$305.2K
$267.1K – $356.1K
NOI $21,367 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 32922, FL
15,923
Population
8,667
Households
1.8
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
5.4 sq mi
ZIP Area
2,949
Density / Sq Mi
$46,138
Median Household Income
$35,125
Median Earnings
$1,057
Median Rent
$176,100
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 - Corner commercial property with SR 520 frontage and BU-2 zoning supporting professional and medical uses.
Where is this office units located?
The property is located at 104 GRACE AVENUE Cocoa, FL.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Corner commercial property with 125 ft of frontage on SR 520 for high‑traffic access; BU‑2 Commercial zoning supports a variety of business uses, including professional offices and medical; Zoning flexibility allows uses such as title company, insurance agency, attorney, accounting, and real estate
