Garden Street Office Centre
For Sale
Contact for pricing
1225 Garden St, Titusville, FL 32796
Versatile commercial property with office and retail buildings for sale.
Property Size20,000 SF
Lot Size1.14 Acres
Price / SF$130
Days on Market564
Property Features for 1225 Garden St
General Information
Standard status
Active
Size
20,000 SF
Lot size
1.14 Acres
Property subtype
Office, Retail
Lease Type
Modified Gross
Building Details
Year Built
1986
Buildings
1
Stories
2
Units
13
Tenancy
Multi
Listing Agency:
Charles A. Von Stein, Inc
(772) 778-4885
Listed By:
Kirk Von Stein · License #FL
Source:
Crexi
Added: Feb 11, 2025
Changed: Aug 26
Last Checked: Aug 29 at 12:19AM
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.
The Garden Street Office Centre, located at 1225-1231 Garden Street, Titusville, FL, 32796, is a commercial property available for sale. The property includes a total building area of 20,000 square feet situated on a 1.14-acre parcel. It comprises three buildings: a 10,000-square-foot office building and two retail buildings totaling 10,000 square feet. The property is suitable for office or retail use. The plaza has been renovated and features new paint, monument signs, and renovated suites. Its location near major retail tenants and U.S. Highway One provides visibility for businesses. The Garden Street Office Centre is an opportunity for investors.
Key Highlights
- Prime commercial property with 20,000 sq. ft. total building area on 1.14 acres.
- Versatile space suitable for office or retail use.
- Three buildings: a 10,000 sq. ft. office building and two retail buildings totaling 10,000 sq. ft.
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
8.87%
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 10.47%
Second Best
Retail
$3.29M
$2.88M – $3.84M
NOI $230,580 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,360 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
Under-served
Demand for This Use
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?
Shopping center - Versatile commercial property with office and retail buildings for sale.
Where is this shopping center located?
The property is located at 1225 Garden St Titusville, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Prime commercial property with **20,000 sq. ft. total building area on 1.14 acres**.; Versatile space suitable for office or retail use.; Three buildings: a **10,000 sq. ft. office building and two retail buildings totaling 10,000 sq. ft.**
