Four-Unit Office Building with RV
For Sale
$399,000
3172 Highway 1, Mims, FL 32754
COMMERCIAL - Mims, FL
Property Size1,024 SF
Lot Size1.16 Acres
Price / SF$389.65
Days on Market219
Property Features for 3172 Highway 1
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 2
Parking features
RV
Directions
Located on the NW Corner of the Intersection of US Highway 1 & Brockett Rd.
Subdivision
101 - Mims/Scottsmoor
Standard status
Active
APN
21-35-07-00-00011.0-0000.00
Size
1,024 SF
Lot size
1.16 Acres
Taxes and HOA fees
Tax Year
2015
Tax Description
PART OF W 1/2 OF NE 1/4 AS DESC IN DB 331 PG 488 EXC ORB 3861 PG 1223 PAR 90
Tax Annual Amount
1558
Legal Description
PART OF W 1/2 OF NE 1/4 AS DESC IN DB 331 PG 488 EXC ORB 3861 PG 1223 PAR 90
Utilities
Sewer type
Public Sewer, Septic Tank
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1951
Floors in Building
1
Number of units
4
Flooring type
Carpet
Building materials
Block
Roof type
Wood
Listing Agency:
Crescent Moon R.E. & Inv. LLC
(321) 567-4905
Listed By:
Thomas D Miller · License #3132209
(321) 759-4216
Added: Jan 7
Changed: Aug 4
Last Checked: Aug 14 at 6:06AM
MLS# 1065733
Copyright © 2026 Space Coast Association of Realtors. 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 four-unit office/commercial building offers flexible layout opportunities across the existing spaces. The property is constructed with block materials, features carpet flooring, and is served by electric heating and electric cooling. Parking is available for RVs. The home was built in 1951.
Located at 3172 Highway 1 in Mims, Florida (Brevard County), the building is on a 1.16-acre lot with public water and sewer service plus a septic tank noted in the utilities information. The property has a wood roof and includes four bathrooms across the available rooms.
The existing unit configuration has been used for multiple different business types, including a used car lot, retail, office, and professional uses.
Located at 3172 Highway 1 in Mims, Florida (Brevard County), the building is on a 1.16-acre lot with public water and sewer service plus a septic tank noted in the utilities information. The property has a wood roof and includes four bathrooms across the available rooms.
The existing unit configuration has been used for multiple different business types, including a used car lot, retail, office, and professional uses.
Key Highlights
- Four‑unit commercial building with existing multi‑business configuration
- 1.16‑acre lot with 1,024 SF building size
- Electric heating and electric cooling
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
$13,935
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
3.49%
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%
$278,700
$278.7K
Cap Rate 7%
$199,071
$199.1K
Cap Rate 9%
$154,833
$154.8K
Market Conditions
NOI Build-Up for 1,024 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
$22.1K $21.60/SF
− Vacancy
−$3.5K −$3.46/SF
EGI
$18.6K $18.14/SF
− OpEx
−$4.6K −$4.54/SF
NOI
$13.9K $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%
$278,700
Cap Rate 7%
$199,071
Cap Rate 9%
$154,833
Alternative Uses
Best Use
Office B
$199.1K
$174.2K – $232.3K
NOI $13,935 @ 7.0% cap · market cap 3.49%
Second Best
Retail
$168.7K
$147.6K – $196.8K
NOI $11,806 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$270.2K
$236.4K – $315.2K
NOI $18,911 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 32754, FL
11,996
Population
5,657
Households
2.1
Avg Household Size
50
Median Age
20%
College-Educated
91%
High-School Grad
136.9 sq mi
ZIP Area
88
Density / Sq Mi
$69,960
Median Household Income
$41,758
Median Earnings
$1,004
Median Rent
$260,700
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?
Office units - Four-unit commercial building with RV parking, electric heating and cooling, and public water and sewer service.
Where is this office units located?
The property is located at 3172 Highway 1 Mims, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four‑unit commercial building with existing multi‑business configuration; 1.16‑acre lot with 1,024 SF building size; Electric heating and electric cooling
