Office and Retail
For Sale
$2,800,000
1225 Garden Street, Titusville, FL 32796
Three-building office and retail investment with elevator-access office space and renovated suites on maintained landscaping.
Property Size20,000 SF
Lot Size1.14 Acres
Price / SF$140
Days on Market88
Property Features for 1225 Garden Street
General Information
Standard status
Active
Size
20,000 SF
Lot size
1.14 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,492
Amenities
elevator
monument signage
facade signage
professionally maintained landscaping
Central Air
3
Parking.
Lot.
Other.
Building Details
Year Built
1986
Construction
concrete block and stucco
Listing Agency:
Charles A. Von Stein, Inc
(772) 696-1082
Listed By:
Kirk Von Stein
(772) 696-1082
Source:
Xome
Added: May 17
Changed: Aug 8
Last Checked: Aug 11 at 5:31AM
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 multi-building 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, along with two 5,000-square-foot retail buildings. Constructed with concrete block and stucco, the buildings feature renovated suites, updated exterior paint, monument and facade signage, and professionally maintained landscaping.
The property is located approximately one mile west of US-1 near Publix, restaurants, retail services, and major Titusville employers.
This offering combines office and retail components within a three-building campus configuration, supporting a mixed-use tenant mix across the existing space.
The property is located approximately one mile west of US-1 near Publix, restaurants, retail services, and major Titusville employers.
This offering combines office and retail components within a three-building campus configuration, supporting a mixed-use tenant mix across the existing space.
Key Highlights
- Three‑building office and retail investment totaling 20,000 SF on approx. 1.14 acres
- Includes a 10,000‑SF two‑story office building with elevator access
- Also features two 5,000‑SF retail buildings
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
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
180
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 investment with elevator-access office space and renovated suites on maintained landscaping.
Where is this office building located?
The property is located at 1225 Garden Street 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: Three‑building office and retail investment totaling 20,000 SF on approx. 1.14 acres; Includes a 10,000‑SF two‑story office building with elevator access; Also features two 5,000‑SF retail buildings
