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    Exploration Tower Versatile Commercial Space Title is generated by Realmo AI

    670 Dave Nisbet Dr, Port Canaveral, FL 32920

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    Modern design, versatile space, ideal for various businesses.

    Type:OFFICE
    Property size:
    2,120 SF
    Lot size:
    55.44 Acres
    Added:
    Jun 25, 2024
    Days on Market:
    697
    Last Refresh:
    Apr 5 at 10:08 pm

    Property Features for 670 Dave Nisbet Dr

    General Information

    Standard status
    Active
    Size
    2,120 SF
    Lot size
    55.44 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 670 Dave Nisbet Dr Contact us

    We can help!

    Listing Contact
    Brian L. Lightle
    Brian L. Lightle

    Listing agent Brian L. Lightle License #510409

    Listing office Lightle Beckner Robison, Inc.

    Listing date Jun 25, 2024

    Source Moodyscre

    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 Lightle Beckner Robison, Inc.

    HighLights

    • Versatile commercial space suitable for various businesses or event venue.
    • Multiple floors offering diverse spaces: café, open layout, auditorium, event rooms, observation areas.
    • Auditorium with stage and seating for events.
    • Event rooms with restrooms and commercial kitchen.
    • Spacious floor plan with flexibility for customization.
    • Ample parking and convenient access.

    Overview

    An exceptional leasing opportunity exists at Exploration Tower in Port Canaveral, Florida. This property features a modern design with versatile commercial space suitable for a wide range of businesses. The spacious floor plan offers flexibility for customization, and large windows provide ample natural light. Ample parking and convenient access enhance the property's appeal. The ground floor includes a café for workplace dining. The second floor features an open layout with versatile space. The third floor contains an auditorium with a stage and seating for events. On the fourth floor, there are event rooms with restrooms and a commercial kitchen. The fifth floor offers open space and essential utility rooms. An indoor observation area is located on the sixth floor, and a showpiece observation deck is on the seventh floor. The available space is 2120 square feet. This property is ideal for a corporate business location or a specialty event venue.
    Location Intelligence

    Current Use by Public Records

    Exploration Tower Resort

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Hotel & Motel Department Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Port Canaveral
    County
    Brevard
    State
    Florida
    Longitude
    -80.618
    Latitude
    28.4079

    FAQs

    What type of property is this?
    Office units - Modern design, versatile space, ideal for various businesses.
    Where is this office units located?
    The property is located at 670 Dave Nisbet Dr Port Canaveral, FL.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Versatile commercial space suitable for various businesses or event venue.; Multiple floors offering diverse spaces: café, open layout, auditorium, event rooms, observation areas.; Auditorium with stage and seating for events.
    (321) 863-3228 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian L. Lightle
    Brian L. Lightle
    Real Estate License ID: 510409
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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