Standalone Flex Space with
For Sale
$1,780,000
280 W Central Blvd, Cape Canaveral, FL 32920
Stand-alone flex space combines office support areas, non-HVAC warehouse capacity, and 600 Amp three-phase electrical service.
Property Size11,920 SF
Price / SF$149.33
Days on Market22
Property Features for 280 W Central Blvd
General Information
Standard status
Active
Size
11,920 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
8,720 SF
Office Build-Out
3,200 SF
Drive-In Doors
3
Power
600 amps
Voltage
208 V
Three-Phase Power
Yes
Conditioned Warehouse
No
Building Details
Building Size
11,920 SF
Year Built
1984
Buildings
1
Listing Agency:
(321) 863-3228
Listed By:
Brian L. Lightle, CCIM, SIOR, CRE · License #FL #BK510409
(321) 863-3228
Source:
Teamlbr
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 29 at 8:35PM
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 Brian L. Lightle, CCIM, SIOR, CRE
Investment Insights
Based on property information with market context.
This 1984 stand-alone flex space contains 11,920 square feet arranged for office, support, and industrial functions. Approximately 8,720 square feet is dedicated to non-HVAC warehouse area, with roughly 3,200 square feet of office and support space. The building includes two warehouse areas, 20-foot clear height, and three grade-level 12-foot roll-up doors.
Electrical service is rated at 600 Amp, 3-Phase, 208Y/120V, supporting operations that require substantial power. The property is located at 280 W Central Blvd in Cape Canaveral, with access described as minutes from Port Canaveral and SR 528.
Electrical service is rated at 600 Amp, 3-Phase, 208Y/120V, supporting operations that require substantial power. The property is located at 280 W Central Blvd in Cape Canaveral, with access described as minutes from Port Canaveral and SR 528.
Key Highlights
- 11,920 SF stand‑alone flex building constructed in 1984
- Approximately 8,720 SF of non‑HVAC warehouse space
- Approximately 3,200 SF of office and support area
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
$162,207
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
9.11%
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%
$3,244,140
$3.2M
Cap Rate 7%
$2,317,243
$2.3M
Cap Rate 9%
$1,802,300
$1.8M
Market Conditions
NOI Build-Up for 11,920 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
$257.5K $21.60/SF
− Vacancy
−$41.2K −$3.46/SF
EGI
$216.3K $18.14/SF
− OpEx
−$54.1K −$4.54/SF
NOI
$162.2K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /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%
$3,244,140
Cap Rate 7%
$2,317,243
Cap Rate 9%
$1,802,300
Alternative Uses
Best Use
Office B
$2.32M
$2.03M – $2.70M
NOI $162,207 @ 7.0% cap · market cap 9.11%
Second Best
Flex RnD
$1.74M
$1.52M – $2.03M
NOI $121,706 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$3.14M
$2.75M – $3.67M
NOI $220,139 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
3
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
628
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Stand-alone flex space combines office support areas, non-HVAC warehouse capacity, and 600 Amp three-phase electrical service.
Where is this flex space located?
The property is located at 280 W Central Blvd Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: 11,920 SF stand‑alone flex building constructed in 1984; Approximately 8,720 SF of non‑HVAC warehouse space; Approximately 3,200 SF of office and support area
