Mixed-Use Property with
For Sale
$2,375,000
105 S Miramar Ave, Indialantic, FL 32903
Ground-floor shops and an upper-level residence support a flexible owner-user configuration along the beachside commercial corridor.
Property Size5,723 SF
Price / SF$414.99
Days on Market151
Property Features for 105 S Miramar Ave
General Information
Standard status
Active
Size
5,723 SF
Property subtype
Shopping Strip
Amenities
Situated in a Booming Market- Multiple Recent Redevelopments Surrounding the Property and 10% Population Increase Projected Over the Next 5-years
Affluent Market- Median Household Income is $102,000 Within a 1-Mile Radius
Irreplaceable Real Estate- Rare Opportunity to Acquire a Commercial Asset Just Steps From the Beach
Multiple use Cases- 2nd Story Residential Unit Along With Six Suites Of Retail On The First Floor
Well positioned For an Owner-User to get Creative and Put Their own Concept Here Given the Month-To-Month Lease Structure and Unique Location
Building Details
Building Size
5,723 SF
Year Built
1956
Listing Agency:
Orlando Office
(407) 557-3802
Listed By:
Alex Goodale · License #FL: SL3582293
(407) 557-3802
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 5:33PM
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 Orlando Office
Investment Insights
Based on property information with market context.
This two-story mixed-use property combines six retail suites at ground level with a residential unit above. The building contains 5,723 square feet of base area plus 538 square feet of porch space, creating a commercial and residential configuration suited to an owner-user. Current occupancy is arranged through month-to-month leases, allowing flexibility for continued leasing or future occupancy planning.
The property is located at 105 S Miramar Ave in Indialantic, along the A1A corridor and steps from the beach. The surrounding one-mile area has a median household income of $102,000, while the market is described as having multiple nearby redevelopment projects. Built in 1956, the asset offers an established beachside footprint with both retail and residential components.
The property is located at 105 S Miramar Ave in Indialantic, along the A1A corridor and steps from the beach. The surrounding one-mile area has a median household income of $102,000, while the market is described as having multiple nearby redevelopment projects. Built in 1956, the asset offers an established beachside footprint with both retail and residential components.
Key Highlights
- 5,723 square feet of base area with 538 square feet of porch space
- Six ground‑floor retail suites plus one second‑floor residential unit
- Two‑story mixed‑use building constructed in 1956
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
$66,401
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
2.80%
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%
$1,328,020
$1.3M
Cap Rate 7%
$948,586
$948.6K
Cap Rate 9%
$737,789
$737.8K
Market Conditions
NOI Build-Up for 5,723 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
$116.7K $20.40/SF
− Vacancy
−$10.5K −$1.84/SF
EGI
$106.2K $18.56/SF
− OpEx
−$39.8K −$6.96/SF
NOI
$66.4K $11.60/SF
Area
Brevard County, FL
Vacancy
9.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$1,328,020
Cap Rate 7%
$948,586
Cap Rate 9%
$737,789
Alternative Uses
Best Use
Mixed Use
$948.6K
$830.0K – $1.11M
NOI $66,401 @ 7.0% cap · market cap 2.80%
Second Best
Retail
$942.6K
$824.8K – $1.10M
NOI $65,980 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,692 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
95k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Shops & Services 29%
Dining 22%
Apparel 5%
Publix
Groceries
30,819 visits/mo
0.4 miles
Starbucks
Dining
12,635 visits/mo
0.3 miles
ABC Fine Wine & Spirits
Groceries
10,099 visits/mo
0.2 miles
Dollar General
Shops & Services
8,554 visits/mo
0.4 miles
7-Eleven
Shops & Services
8,312 visits/mo
0.5 miles
Demographics for 32903, FL
13,880
Population
7,469
Households
1.9
Avg Household Size
52
Median Age
51%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
3,856
Density / Sq Mi
$101,549
Median Household Income
$55,718
Median Earnings
$1,700
Median Rent
$495,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor shops and an upper-level residence support a flexible owner-user configuration along the beachside commercial corridor.
Where is this mixed-use property located?
The property is located at 105 S Miramar Ave Indialantic, FL.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: 5,723 square feet of base area with 538 square feet of porch space; Six ground‑floor retail suites plus one second‑floor residential unit; Two‑story mixed‑use building constructed in 1956
