Corner Mixed-Use
For Sale
$309,000
104 GRACE Avenue, Cocoa, FL 32922
Commercial Sale, COCOA, FL
Property Size1,080 SF
Lot Size0.22 Acres
Price / SF$286.11
Days on Market50
Property Features for 104 GRACE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BU-2
Appliances
Dryer, Refrigerator, Washer
Subdivision
GRAY PORTER SUB
Lot features
Corner Lot
Directions
Follow I-95 N to FL-520 E/W King St in Cocoa West. Take exit 201 from I-95 N. Follow FL-520 E/W King St to Grace Ave
Standard status
Active
APN
24 3632-32-*-1
Size
1,080 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GRAY PORTER SUBD LOT 1
Tax Annual Amount
2072
Legal Description
GRAY PORTER SUBD LOT 1
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Flooring type
Vinyl
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
FLORIDA REALTY RESULTS LLC
(407) 498-3838
Listed By:
Jeffrey Perry · License #559384
(407) 873-1797
Added: Jul 7
Changed: Aug 24
Last Checked: Aug 25 at 7:06AM
MLS# S5153116
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.
Investment Insights
Based on property information with market context.
This mixed-use commercial property comprises a 1,080-square-foot building on a 0.22-acre corner parcel. Constructed in 1950, the improvements feature block, concrete, and stucco construction, vinyl flooring, central heating, central air, and a shingle roof. Public water and a septic tank serve the property. Appliances include a refrigerator, washer, and dryer.
The site provides 125 feet of frontage along SR 520. BU-2 zoning supports a range of business applications identified for the property, including professional offices, title, insurance, legal, accounting, real estate, and medical uses. The building requires some TLC, offering an existing commercial structure for an owner-user or investor to evaluate and improve.
The site provides 125 feet of frontage along SR 520. BU-2 zoning supports a range of business applications identified for the property, including professional offices, title, insurance, legal, accounting, real estate, and medical uses. The building requires some TLC, offering an existing commercial structure for an owner-user or investor to evaluate and improve.
Key Highlights
- 1,080‑square‑foot mixed‑use commercial building on a 0.22‑acre parcel
- 125 feet of frontage along SR 520
- BU‑2 commercial zoning
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
$14,697
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
4.76%
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%
$293,940
$293.9K
Cap Rate 7%
$209,957
$210.0K
Cap Rate 9%
$163,300
$163.3K
Market Conditions
NOI Build-Up for 1,080 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
$23.3K $21.60/SF
− Vacancy
−$3.7K −$3.46/SF
EGI
$19.6K $18.14/SF
− OpEx
−$4.9K −$4.54/SF
NOI
$14.7K $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%
$293,940
Cap Rate 7%
$209,957
Cap Rate 9%
$163,300
Alternative Uses
Best Use
Office B
$210.0K
$183.7K – $245.0K
NOI $14,697 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$179.0K
$156.6K – $208.9K
NOI $12,531 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$284.9K
$249.3K – $332.4K
NOI $19,945 @ 7.0% cap · market cap 6.45%
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?
Mixed-use property - BU-2-zoned commercial property with professional office and service-use potential.
Where is this mixed-use property 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: 1,080‑square‑foot mixed‑use commercial building on a 0.22‑acre parcel; 125 feet of frontage along SR 520; BU‑2 commercial zoning
