Multi-Unit Commercial
For Sale
$399,000
3172 Highway 1, Mims, FL 32754
Four-unit commercial building with flexible use options for retail, office, professional, and automotive-oriented operations.
Property Size1,024 SF
Price / SF$389.65
Days on Market375
Property Features for 3172 Highway 1
General Information
Standard status
Active
Size
1,024 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,558
Amenities
Electric
3
Carpet
Parking.
RV Parking.
Other.
Building Details
Year Built
1951
Listing Agency:
Crescent Moon R.E. & Inv. LLC
(321) 567-4905
Listed By:
Thomas Miller · License #3132209
(321) 759-4216
Source:
Xome
Added: Aug 29, 2025
Changed: Sep 1
Last Checked: Sep 7 at 4:56AM
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 Crescent Moon R.E. & Inv. LLC
Investment Insights
Based on property information with market context.
This commercial property consists of a building with four units, currently described as supporting multiple different business types such as a used car lot, retail, office, and professional uses, with the owner also referencing a laundromat-style business concept. The property also offers a redevelopment path for alternative commercial uses, with examples cited including a gas station or restaurant.
The property is located at 3172 Highway 1 Unit 0 in Mims, Florida. Public remarks indicate that there are plenty of RV parks and residential homes located close by.
For buyers considering either continued tenancy within the existing four-unit setup or a redevelopment plan, the seller has stated that owner financing will not be considered.
The property is located at 3172 Highway 1 Unit 0 in Mims, Florida. Public remarks indicate that there are plenty of RV parks and residential homes located close by.
For buyers considering either continued tenancy within the existing four-unit setup or a redevelopment plan, the seller has stated that owner financing will not be considered.
Key Highlights
- Four‑unit commercial building with flexible use options for retail, office, professional, and automotive‑oriented operations
- Year built: 1951
- RV parking available
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
Current Use
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 flexible use options for retail, office, professional, and automotive-oriented operations.
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 flexible use options for retail, office, professional, and automotive‑oriented operations; Year built: 1951; RV parking available
