Mims Mixed-Use Property For
For Sale
$649,000
3526 ELLIS LANE, Mims, FL 32754
Versatile property with office, storage, and highway frontage.
Property Size3,128 SF
Lot Size1.38 Acres
Price / SF$207.48
Days on Market105
Property Features for 3526 ELLIS LANE
General Information
Standard status
Active
Size
3,128 SF
Lot size
1.38 Acres
Property subtype
Retail
Building Details
Year Built
1953
Listing Agency:
FLAG AGENCY INC.
(321) 267-3600
Listed By:
Chad Conner · License #3142967
Source:
Dennisrealty
Added: May 16
Changed: Aug 28
Last Checked: Aug 28 at 12:54PM
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 FLAG AGENCY INC.
Investment Insights
Based on property information with market context.
This mixed-use property is located on approximately 1.38 acres at the corner of Ellis Lane and US-1 in Mims. It features BU-2 zoning and includes a finished office building with a covered entry, reception/common area, multiple private offices, an open workspace, a kitchen/break area, and a restroom. The site offers ample parking, open yard space, multiple detached structures, covered storage/display areas, and an LED monument sign. There is room for equipment, inventory, outdoor storage, or future expansion. The property has access from both Ellis Lane and US-1, providing exposure along a major corridor in North Brevard, with over 400' of unobstructed Highway 1 frontage. It is suitable for an owner-user, contractor, service business, showroom, equipment/building sales operation, specialty retail, or investor. The property is in close proximity to SpaceX, NASA, Blue Origin, ULA, and Interstate I-95. The office building has a size of 3128 square feet.
Key Highlights
- Prime location with excellent visibility on US‑1 and Ellis Lane, featuring over 400' of unobstructed Highway 1 frontage.
- BU‑2 Zoning allows for versatile use as an owner‑user property, contractor space, service business, showroom, or retail location.
- Finished office building includes a reception area, private offices, open workspace, kitchen/break area, and restroom.
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
$36,293
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
5.59%
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%
$725,860
$725.9K
Cap Rate 7%
$518,471
$518.5K
Cap Rate 9%
$403,256
$403.3K
Market Conditions
NOI Build-Up for 3,128 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
$63.8K $20.40/SF
− Vacancy
−$5.7K −$1.84/SF
EGI
$58.1K $18.56/SF
− OpEx
−$21.8K −$6.96/SF
NOI
$36.3K $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%
$725,860
Cap Rate 7%
$518,471
Cap Rate 9%
$403,256
Alternative Uses
Best Use
Mixed Use
$518.5K
$453.7K – $604.9K
NOI $36,293 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.3K
$722.1K – $962.8K
NOI $57,768 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
81
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile property with office, storage, and highway frontage.
Where is this mixed-use property located?
The property is located at 3526 ELLIS LANE Mims, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Prime location with **excellent visibility on US‑1 and Ellis Lane**, featuring over 400' of unobstructed Highway 1 frontage.; BU‑2 Zoning allows for versatile use as an owner‑user property, contractor space, service business, showroom, or retail location.; Finished office building includes a reception area, private offices, open workspace, kitchen/break area, and restroom.
