Mixed-Use Retail and Office
For Sale
Contact for pricing
1122 Lake Drive, Cocoa, FL 32922
Two-building shopping center with eight retail and office units, on-site parking, and visibility along a major thoroughfare.
Property Size5,384 SF
Price / SF$125.37
Days on Market62
Property Features for 1122 Lake Drive
General Information
Standard status
Active
Size
5,384 SF
Class
C
Property subtype
Mixed Use, Retail, Office
Zoning
CW
Investment Type
Value Add
Building Details
Year Built
1960
Year Renovated
1990
Buildings
2
Units
8
Tenancy
Multi
Listing Agency:
Wisdom Capital Group
Listed By:
Robert Wisdom · License #BK3485707
Source:
Crexi
Added: Jun 12
Changed: Aug 8
Last Checked: Aug 11 at 3:40PM
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 Wisdom Capital Group
Investment Insights
Based on property information with market context.
1122 Lake Drive is a mixed-use neighborhood shopping center that combines retail and professional office space in two buildings. The center includes eight units, labeled A through H, creating a mix of tenant types within a compact, manageable configuration.
The property is positioned along a major thoroughfare in Cocoa, Florida, with access designed for both customers and employees. On-site parking supports day-to-day visits, and the frontage provides visibility for the retail and office tenants operating from the center.
For buyers seeking a multi-unit commercial asset, this offering provides diversified income streams through the retail-and-office mix and an eight-unit layout. The property also lends itself to owners who want to manage a neighborhood-style center rather than a single-tenant building, with the flexibility of operating retail and office tenants under one roofline footprint. Please note that this is presented as an investment opportunity for purchase and is described as well-located for ongoing tenant activity, visibility, and convenient access.
The property is positioned along a major thoroughfare in Cocoa, Florida, with access designed for both customers and employees. On-site parking supports day-to-day visits, and the frontage provides visibility for the retail and office tenants operating from the center.
For buyers seeking a multi-unit commercial asset, this offering provides diversified income streams through the retail-and-office mix and an eight-unit layout. The property also lends itself to owners who want to manage a neighborhood-style center rather than a single-tenant building, with the flexibility of operating retail and office tenants under one roofline footprint. Please note that this is presented as an investment opportunity for purchase and is described as well-located for ongoing tenant activity, visibility, and convenient access.
Key Highlights
- Two‑building shopping center at 1122 Lake Drive with eight total units (A‑H)
- Mixed‑use setup with retail and professional office tenants providing multiple income streams
- Year built: 1960
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
$62,072
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
9.20%
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%
$1,241,440
$1.2M
Cap Rate 7%
$886,743
$886.7K
Cap Rate 9%
$689,689
$689.7K
Market Conditions
NOI Build-Up for 5,384 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
$96.9K $18.00/SF
− Vacancy
−$8.2K −$1.53/SF
EGI
$88.7K $16.47/SF
− OpEx
−$26.6K −$4.94/SF
NOI
$62.1K $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%
$1,241,440
Cap Rate 7%
$886,743
Cap Rate 9%
$689,689
Alternative Uses
Best Use
Office B
$1.05M
$915.8K – $1.22M
NOI $73,265 @ 7.0% cap · market cap 10.85%
Second Best
Retail
$886.7K
$775.9K – $1.03M
NOI $62,072 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,432 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Balanced
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Shopping center - Two-building shopping center with eight retail and office units, on-site parking, and visibility along a major thoroughfare.
Where is this shopping center located?
The property is located at 1122 Lake Drive Cocoa, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑building shopping center at 1122 Lake Drive with eight total units (A‑H); Mixed‑use setup with retail and professional office tenants providing multiple income streams; Year built: 1960
