Flex Space Portfolio with Covered
For Sale
$3,694,600
1540 Armstrong Dr. and 25207 NW 8th Lane Titusville &, Newberry, FL 32780
Two industrial properties with office, warehouse, and covered-storage components under 10-year true NNN leasebacks.
Property Size9,717 SF
Days on Market58
Property Features for 1540 Armstrong Dr. and 25207 NW 8th Lane Titusville &
General Information
Standard status
Active
Size
9,717 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
9,717 SF
Year Built
2022
Buildings
2
Listing Agency:
Bosshardt Realty Services
(352) 256-2112
Listed By:
Eric Ligman · License #3086548
(352) 256-2112
Source:
Bosscommercial
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 30 at 7:52AM
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 Bosshardt Realty Services
Investment Insights
Based on property information with market context.
This flex space portfolio includes two industrial properties in Titusville and Newberry, Florida. The Titusville asset was built in 2022 and provides over 14,000 square feet across office, warehouse, and covered-storage areas. It occupies nearly five acres and includes additional land identified for expansion. Both properties are structured with 10-year true NNN leasebacks.
The Titusville property has direct access to I-95 and US-1, connecting the site with Orlando, Daytona Beach, and the wider Central Florida economy. The surrounding Space Coast market is associated with aerospace, defense, and advanced manufacturing activity linked to Kennedy Space Center and Cape Canaveral. The two-property configuration combines industrial space with office and storage functionality across separate Florida locations.
The Titusville property has direct access to I-95 and US-1, connecting the site with Orlando, Daytona Beach, and the wider Central Florida economy. The surrounding Space Coast market is associated with aerospace, defense, and advanced manufacturing activity linked to Kennedy Space Center and Cape Canaveral. The two-property configuration combines industrial space with office and storage functionality across separate Florida locations.
Key Highlights
- Two‑property flex space portfolio in Titusville and Newberry, Florida
- Titusville asset built in 2022 with over 14,000 square feet
- Nearly five acres at the Titusville property with additional land for expansion
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
$121,210
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
3.28%
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%
$2,424,200
$2.4M
Cap Rate 7%
$1,731,571
$1.7M
Cap Rate 9%
$1,346,778
$1.3M
Market Conditions
NOI Build-Up for 9,717 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
$192.4K $19.80/SF
− Vacancy
−$30.8K −$3.17/SF
EGI
$161.6K $16.63/SF
− OpEx
−$40.4K −$4.16/SF
NOI
$121.2K $12.47/SF
Area
Alachua County, FL
Vacancy
16.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,424,200
Cap Rate 7%
$1,731,571
Cap Rate 9%
$1,346,778
Alternative Uses
Best Use
Office B
$1.73M
$1.52M – $2.02M
NOI $121,210 @ 7.0% cap · market cap 3.28%
Second Best
Flex RnD
$1.30M
$1.14M – $1.52M
NOI $91,141 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$2.45M
$2.14M – $2.86M
NOI $171,478 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32780, FL
39,525
Population
19,984
Households
2
Avg Household Size
48
Median Age
27%
College-Educated
92%
High-School Grad
68.1 sq mi
ZIP Area
580
Density / Sq Mi
$64,670
Median Household Income
$39,882
Median Earnings
$1,258
Median Rent
$250,800
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?
Flex space - Two industrial properties with office, warehouse, and covered-storage components under 10-year true NNN leasebacks.
Where is this flex space located?
The property is located at 1540 Armstrong Dr. and 25207 NW 8th Lane Titusville & Newberry, FL.
What is the asking price?
The asking price for this property is $3,694,600.
What are key features of this property?
This property features: Two‑property flex space portfolio in Titusville and Newberry, Florida; Titusville asset built in 2022 with over 14,000 square feet; Nearly five acres at the Titusville property with additional land for expansion
