Historic Mixed-Use
For Sale
$3,000,000
21 MAIN Street, Titusville, FL 32796
Commercial Sale, TITUSVILLE, FL
Property Size13,860 SF
Lot Size0.23 Acres
Price / SF$216.45
Days on Market100
Property Features for 21 MAIN Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Subdivision
TITUSVILLE
Directions
Located in the Heart of Titusville, Fl Directly off Main St!
Standard status
Active
APN
22 3503-03-D-.04
Size
13,860 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TITUSVILLE PART OF BLK D AS DES IN DB 191 PG 56
Tax Annual Amount
12054
Legal Description
TITUSVILLE PART OF BLK D AS DES IN DB 191 PG 56
Utilities
Cooling system
Central Air
Building Details
Year built
1924
Floors in Building
2
Building materials
Block
Listing Agency:
COMMERCIAL REAL ESTATE PROF IN
Listed By:
Mark Allen
(407) 737-9797
Added: Jun 11
Changed: Sep 12
Last Checked: Sep 18 at 10:06PM
MLS# O6415978
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property consists of two block buildings dating to 1924 on a 0.23-acre site in Titusville. The improvements have undergone extensive updates, including new lighting, electrical work, roofing, flooring, interior and exterior paint, sealed brick exteriors, and six AC units. Windows were replaced in 2020, and the property has been treated for termites.
Each building includes two remodeled upstairs apartments with month-to-month tenants in place. Rear access accommodates handicap accessibility. The property is located at 21 Main Street and carries CBD zoning, supporting its commercial positioning in the Titusville market.
Each building includes two remodeled upstairs apartments with month-to-month tenants in place. Rear access accommodates handicap accessibility. The property is located at 21 Main Street and carries CBD zoning, supporting its commercial positioning in the Titusville market.
Key Highlights
- Two‑building mixed‑use property on a 0.23‑acre site
- CBD zoning at 21 Main Street in Titusville
- Each building includes 2 remodeled upstairs apartments
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
$160,811
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
5.36%
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%
$3,216,220
$3.2M
Cap Rate 7%
$2,297,300
$2.3M
Cap Rate 9%
$1,786,789
$1.8M
Market Conditions
NOI Build-Up for 13,860 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
$282.7K $20.40/SF
− Vacancy
−$25.4K −$1.84/SF
EGI
$257.3K $18.56/SF
− OpEx
−$96.5K −$6.96/SF
NOI
$160.8K $11.60/SF
Area
Brevard County, FL
Vacancy
9.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$3,216,220
Cap Rate 7%
$2,297,300
Cap Rate 9%
$1,786,789
Alternative Uses
Best Use
Mixed Use
$2.30M
$2.01M – $2.68M
NOI $160,811 @ 7.0% cap · market cap 5.36%
Second Best
Retail
$2.28M
$2.00M – $2.66M
NOI $159,792 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$3.66M
$3.20M – $4.27M
NOI $255,966 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,094
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial property with remodeled apartments, CBD zoning, and updated building systems in Titusville.
Where is this mixed-use property located?
The property is located at 21 MAIN Street Titusville, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Two‑building mixed‑use property on a 0.23‑acre site; CBD zoning at 21 Main Street in Titusville; Each building includes 2 remodeled upstairs apartments
