Multi-Tenant Plaza in
For Sale
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2690 S Hopkins Ave, Titusville, FL 32780
Well-maintained plaza with diverse tenants in a strategic location.
Property Size10,059 SF
Price / SF$178.94
Days on Market999
Property Features for 2690 S Hopkins Ave
General Information
Standard status
Active
Size
10,059 SF
Property subtype
Retail
Zoning
CC
Building Details
Year Built
1964
Year Renovated
2021
Buildings
2
Units
5
Tenancy
Multi
Listing Agency:
Rocket City Commercial, Brokered by eXp Commercial
Listed By:
Holly Carver · License #BK 3351454
(321) 291-6601
Source:
Crexi
Added: Dec 22, 2023
Changed: Sep 6
Last Checked: Sep 16 at 4:24PM
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 Rocket City Commercial, Brokered by eXp Commercial
Investment Insights
Based on property information with market context.
The property features a well-maintained brick plaza located at the intersection of S. Hopkins Avenue and Harrison Street, situated behind Titus Landing and across from Parrish Healthcare. The plaza consists of multiple units with a diverse tenant mix, including a Pizza Hut, Atlantic Hearing & Balance Center, a family martial arts center, a gun and rifle store, and an auto repair business that has been operating for more than 10 years. Some leases are month to month, providing an opportunity for value add. New trusses were installed in 1989, and a new roof was installed in 2015. The property size is 10059 square feet. The property includes two buildings: 2600/2650 and 2690. Building 2600/2650 houses the auto repair business. Building 2690 is a 4-unit multi-tenant plaza.
Key Highlights
- Strategic location at a busy intersection near Titus Landing and Parrish Healthcare.
- Well‑maintained 4‑unit multi‑tenant plaza with a history of reliable, long‑term tenants.
- Diverse tenant mix including established businesses like Pizza Hut and Atlantic Hearing & Balance Center.
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
$115,970
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
6.44%
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%
$2,319,400
$2.3M
Cap Rate 7%
$1,656,714
$1.7M
Cap Rate 9%
$1,288,556
$1.3M
Market Conditions
NOI Build-Up for 10,059 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
$181.1K $18.00/SF
− Vacancy
−$15.4K −$1.53/SF
EGI
$165.7K $16.47/SF
− OpEx
−$49.7K −$4.94/SF
NOI
$116.0K $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%
$2,319,400
Cap Rate 7%
$1,656,714
Cap Rate 9%
$1,288,556
Alternative Uses
Best Use
Retail
$1.66M
$1.45M – $1.93M
NOI $115,970 @ 7.0% cap · market cap 6.44%
Second Best
Industrial
$878.2K
$768.4K – $1.02M
NOI $61,471 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,770 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
569
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Searstown Mall — 3550 S Washington Ave, Titusville, FL 32780
- Wildwood Antique Mall of Titusville — 3550 s washington ave #1, titusville, fl 32780
- Hopkins Plaza — 3404 S Hopkins Ave, Titusville, FL 32780
- Titus Landing — US Hwy 1 &, Harrison St, Titusville, FL 32780
- Miracle City Mall — 2500 S Washington Ave, Titusville, FL 32780, United States
Frequently Asked Questions
What type of property is this?
Shopping center - Well-maintained plaza with diverse tenants in a strategic location.
Where is this shopping center located?
The property is located at 2690 S Hopkins Ave Titusville, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Strategic location at a busy intersection near Titus Landing and Parrish Healthcare.; Well‑maintained 4‑unit multi‑tenant plaza with a history of reliable, long‑term tenants.; Diverse tenant mix including established businesses like Pizza Hut and Atlantic Hearing & Balance Center.
