Office and Retail Investment
For Sale
$2,800,000
1225-1225 Garden St, Titusville, FL 32796
Three-building office and retail campus includes a two-story office building with elevator access and two retail buildings.
Property Size20,000 SF
Lot Size1.14 Acres
Price / SF$140
Days on Market100
Property Features for 1225-1225 Garden St
General Information
Standard status
Active
Size
20,000 SF
Lot size
1.14 Acres
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,491
Amenities
elevator access
monument and facade signage
professionally maintained landscaping
Building Details
Construction
concrete block and stucco
Listing Agency:
Charles A. Von Stein, Inc
Listed By:
Kirk Von Stein
(772) 778-4885
Source:
Exprealty
Added: May 29
Changed: Aug 20
Last Checked: Sep 5 at 11:05AM
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
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.
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 = 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
$230,580
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
8.24%
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%
$4,611,600
$4.6M
Cap Rate 7%
$3,294,000
$3.3M
Cap Rate 9%
$2,562,000
$2.6M
Market Conditions
NOI Build-Up for 20,000 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
$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 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%
$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
NOI $272,160 @ 7.0% cap · market cap 9.72%
Second Best
Retail
$3.29M
$2.88M – $3.84M
NOI $230,580 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,360 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
