Cape Canaveral Flex Space
For Sale
Contact for pricing
190 Center St, Cape Canaveral, FL 32920
Flex space with office, warehouse, and fenced yard.
Property Size13,064 SF
Lot Size2.17 Acres
Price / SF$141.61
Days on Market173
Property Features for 190 Center St
General Information
Standard status
Active
Size
13,064 SF
Class
B
Lot size
2.17 Acres
Property subtype
Industrial
Zoning
C2
Occupancy
90%
Investment Type
Value Add
Building Details
Year Built
1961
Buildings
2
Stories
1
Listing Agency:
Lightle Beckner Robison Inc
(321) 722-0707
Listed By:
Michael Moss II · License #FL 3551933
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 11 at 3:18PM
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 Lightle Beckner Robison Inc
Investment Insights
Based on property information with market context.
This property, located off A1A just south of SR 528 in Cape Canaveral, features 13,064 rentable square feet on approximately 2.17 acres. The facility includes a 6,174 square foot fully built-out office building and 6,890 square feet of warehouse space. Additionally, the property offers over an acre of stabilized, fenced yard space, currently used for Boat & RV storage. The current tenant(s) operate on a month-to-month basis, paying below-market rent. This property presents a unique opportunity for an investor or owner-user. Potential business uses include demolishing the warehouses to create formalized outside storage or cruise parking, re-leasing to a single tenant, or marking the current operation to market value.
Key Highlights
- 13,064 rentable square feet of building space on 2.17 acres.
- Includes a 6,174 square foot office building and 6,890 square feet of warehouse space.**
- Over an acre of stabilized, fenced yard space suitable for Boat & RV storage.**
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
$133,386
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
7.21%
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%
$2,667,720
$2.7M
Cap Rate 7%
$1,905,514
$1.9M
Cap Rate 9%
$1,482,067
$1.5M
Market Conditions
NOI Build-Up for 13,064 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
$219.5K $16.80/SF
− Vacancy
−$14.3K −$1.09/SF
EGI
$205.2K $15.71/SF
− OpEx
−$71.8K −$5.50/SF
NOI
$133.4K $10.21/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$2,667,720
Cap Rate 7%
$1,905,514
Cap Rate 9%
$1,482,067
Alternative Uses
Best Use
Flex RnD
$1.91M
$1.67M – $2.22M
NOI $133,386 @ 7.0% cap · market cap 7.21%
Second Best
Warehouse
$1.29M
$1.13M – $1.50M
NOI $90,012 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$3.45M
$3.02M – $4.02M
NOI $241,266 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32920, FL
9,984
Population
8,872
Households
1.1
Avg Household Size
58
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
403
Density / Sq Mi
$70,734
Median Household Income
$41,264
Median Earnings
$1,161
Median Rent
$323,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with office, warehouse, and fenced yard.
Where is this flex space located?
The property is located at 190 Center St Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 13,064 rentable square feet of building space on 2.17 acres.; Includes a 6,174 square foot office building and 6,890 square feet of warehouse space.**; Over an acre of stabilized, fenced yard space suitable for Boat & RV storage.**
