Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1970 Michigan Ave Cocoa, FL 32922

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office complex with serene environment, suitable for various businesses.

    Type:Office
    Added:
    Dec 4, 2023
    Days on Market:
    872
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 1970 Michigan Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1986

    Spaces For Lease

    at 1970 Michigan Ave Contact us

    A-1 $15 /Mo

    Size
    2,507 SF
    Type
    Office
    Contact us

    L $15 /Mo

    Size
    4,789 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Vitor De Sousa, CCIM
    Vitor De Sousa, CCIM

    Listing agent Vitor De Sousa, CCIM License #FL-3478927

    Listing office Lightle Beckner Robison Inc

    Listing date Dec 4, 2023

    Source Crexi

    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

    Overview

    Office Complex in Natural Setting

    Woodland Commons is an office complex offering leasing opportunities for businesses seeking a professional environment. The complex is set within a natural landscape, providing a backdrop for company operations. The landscape includes greenery, creating a serene atmosphere conducive to a productive work environment. The location offers privacy and may be suitable for government contractors requiring confidentiality and security.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vocational Rehabilitation State Government Office Thomas H Yardley ... Law Firm Department of Elder Affairs Social Service Agency US Probation & Parole ... Probation Office HRSS Consulting Group, ... Human Resource Consulting

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cocoa
    County
    Brevard
    State
    Florida
    Longitude
    -80.7538121
    Latitude
    28.389904

    Nearby Similar for Lease

    • $1,700/Mo

      Cocoa Village Commercial Space

      Versatile commercial space in historic Cocoa Village, ideal for various uses.
      602 Brevard Avenue, Cocoa, FL 32922
      View Details
    • $1,800,000 SF/Yr

      Freestanding Cocoa Commercial Building For Rent

      6,000 SF commercial building with showroom and flex space.
      809 North Cocoa Boulevard, Unit 102, Cocoa, FL 32922
      View Details
    • $1,800/Mo

      Cocoa Commercial / Light Industrial

      1600 SF commercial/light industrial space with 220V 3-phase power.
      3860 Curtis Boulevard, Cocoa, FL 32927
      View Details
    • $8,500/Mo

      Automotive Property on State Road

      Automotive property with office, workshop, and pole barn space.
      2156 W. King Street, Cocoa, FL 32926
      View Details
    • $1,800/Mo

      Functional Office Space Available

      Office space featuring private office, open area, and kitchenette.
      3815 N Hwy 1, Cocoa, FL
      View Details
    • Contact for pricing

      Industrial Space Available For Lease

      593,076 SF industrial space delivering in Q1 2027.
      3901-3951 Grissom Pkwy, Cocoa, FL, 32926
      View Details
    • $15 SF/Yr

      Flex Space with Warehouse

      Flex space featuring offices, warehouse, and roll-up door.
      3732 N Highway 1, Cocoa, FL
      View Details
    • Contact for pricing

      Cocoa Warehouse with Office Space

      Versatile warehouse with office, storage, and convenient access.
      324 Clearlake Road, Cocoa, FL 32922
      View Details
    • $27 SF/Yr

      Historic Cocoa Village Retail Space

      Retail space for lease in historic Cocoa Village.
      315-319 Brevard Ave, Cocoa, FL
      View Details
    • Contact for pricing

      Cocoa Flex Warehouse Units

      Flex warehouse units with office space for lease in Cocoa.
      3815 N. US Highway 1, Cocoa, FL 32926
      View Details
    • Contact for pricing

      Industrial Warehouse and Storage Space

      Industrial warehouse and storage space with fenced yard in Cocoa.
      815 N Cocoa Blvd, Cocoa, FL 32922
      View Details
    • $12 SF/Yr

      Cocoa Warehouse Unit with Yard

      Storage warehouse units with yard space available for lease.
      310 Clearlake Rd, Cocoa, FL
      View Details

    FAQs

    What type of property is this?
    Office building - Office complex with serene environment, suitable for various businesses.
    Where is this office building located?
    The property is located at 1970 Michigan Ave Cocoa, FL.
    What are key features of this property?
    This property features: Serene and professional office environment.; Tranquil natural setting and scenic surroundings.; Discreet location suitable for businesses requiring confidentiality.
    (321) 722-0707 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Vitor De Sousa, CCIM
    Vitor De Sousa, CCIM
    Real Estate License ID: FL-3478927
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!