Building Details

Construction concrete block and stucco

Listing Agency: Charles A. Von Stein, Inc

Listed By: Kirk Von Stein Show Phone

Source: Exprealty

Added: May 29 Changed: Oct 2 Last Checked: Oct 21 at 1:26AM

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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 Charles A. Von Stein, Inc

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Investment Insights

Based on property information with market context.

Garden Street Office Centre is a 20,000-square-foot office and retail investment consisting of three buildings on approximately 1.14 acres. The property includes a 10,000-square-foot, two-story office building with elevator access, plus two 5,000-square-foot retail buildings. Construction is concrete block and stucco, with renovated suites and updated exterior paint. Monument and facade signage are included, and the landscaping is professionally maintained.

The center is located about one mile west of US-1 near Publix, with restaurants and retail services nearby, as well as major Titusville employers.

The property is offered for sale.

Key Highlights

• 20,000 SF three‑building office and retail investment on approx. 1.14 acres
• 10,000 SF two‑story office building with elevator access
• Two 5,000 SF retail buildings in a three‑building campus

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$230,580

Cap Rate

8.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,611,600 $4.6M

Cap Rate 7%

$3,294,000 $3.3M

Cap Rate 9%

$2,562,000 $2.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,000 SF

Gross rent

$360.0K $18.00/SF

− Vacancy

−$30.6K −$1.53/SF

EGI

$329.4K $16.47/SF

− OpEx

−$98.8K −$4.94/SF

NOI

$230.6K $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 Rate 5%

$4,611,600

Cap Rate 7%

$3,294,000

Cap Rate 9%

$2,562,000

Alternative Uses

Best Use

Office B

$3.89M

$3.40M – $4.54M (±1% cap)

NOI $272,160 @ 7.0% cap · market cap 9.72%

Second Best

Retail

$3.29M

$2.88M – $3.84M (±1% cap)

NOI $230,580 @ 7.0% cap · market cap 8.24%

Theoretical Best

Office A

$5.28M

$4.62M – $6.16M (±1% cap)

NOI $369,360 @ 7.0% cap · market cap 13.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Bakery Locksmith Veterinary Clinic Florist Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,167

Businesses Nearby

Explore this area Business Placement

Demographics for 32796, FL

20,818

Population

9,670

Households

2.2

Avg Household Size

50

Median Age

28%

College-Educated

90%

High-School Grad

14.4 sq mi

ZIP Area

1,446

Density / Sq Mi

$67,399

Median Household Income

$40,368

Median Earnings

$1,305

Median Rent

$243,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Three-building office and retail campus includes a two-story office building with elevator access and two retail buildings.

Where is this office building located?

The property is located at 1225-1225 Garden St Titusville, FL.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: 20,000 SF three‑building office and retail investment on approx. 1.14 acres; 10,000 SF two‑story office building with elevator access; Two 5,000 SF retail buildings in a three‑building campus