Standalone Flex
For Sale
$1,795,000
Pending
3640 N Hwy 1, Cocoa, FL 32926
Combined showroom and warehouse configuration with polished concrete floors, LED lighting, and multiple grade-level loading doors.
Property Size9,264 SF
Days on Market32
Property Features for 3640 N Hwy 1
General Information
Standard status
Pending
Size
9,264 SF
Property subtype
Commercial
Building Details
Year Built
2018
Listing Agency:
The Ullian Realty Corporation
(321) 750-3439
Listed By:
Zachary Michael Ullian · License #3445627
Source:
Viewfloridabeachhouses
Added: Jul 22
Changed: Aug 22
Last Checked: Aug 22 at 7:51AM
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 The Ullian Realty Corporation
Investment Insights
Based on property information with market context.
This standalone flex property contains 9,264 SF in a CBS/metal building constructed in 2018 and expanded in 2022. The layout includes an estimated 2,000 SF HVAC showroom and approximately 7,264 SF of warehouse and shop area, with the shop portion roughly 50% HVAC-related. Interior features include polished concrete floors and LED lighting, while clear heights range from 18' 6'' to 20' +/-.
Loading access includes two grade-level doors measuring approximately 12' x 12' and one measuring approximately 10' x 10'. The property is served by City of Cocoa Water, septic, and 1-phase 120/240v FPL electric. Parking includes 36 concrete spaces and 12 gravel spaces. Located at 3640 N Hwy 1 in Cocoa, the property has an estimated US1 traffic count of 26,000 VPD and sits just off State Road 528, with access toward Interstate 95, US1, and the beaches. Port Canaveral is approximately 15 minutes away, Kennedy Space Center approximately 20 minutes, and Orlando International Airport approximately 40 minutes.
Loading access includes two grade-level doors measuring approximately 12' x 12' and one measuring approximately 10' x 10'. The property is served by City of Cocoa Water, septic, and 1-phase 120/240v FPL electric. Parking includes 36 concrete spaces and 12 gravel spaces. Located at 3640 N Hwy 1 in Cocoa, the property has an estimated US1 traffic count of 26,000 VPD and sits just off State Road 528, with access toward Interstate 95, US1, and the beaches. Port Canaveral is approximately 15 minutes away, Kennedy Space Center approximately 20 minutes, and Orlando International Airport approximately 40 minutes.
Key Highlights
- 9,264 SF CBS/metal flex building constructed in 2018 and expanded in 2022
- Estimated 2,000 SF showroom plus approximately 7,264 SF warehouse/shop area
- Clear height ranges from 18' 6'' to 20' +/-
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
$106,805
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
5.95%
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%
$2,136,100
$2.1M
Cap Rate 7%
$1,525,786
$1.5M
Cap Rate 9%
$1,186,722
$1.2M
Market Conditions
NOI Build-Up for 9,264 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
$166.8K $18.00/SF
− Vacancy
−$14.2K −$1.53/SF
EGI
$152.6K $16.47/SF
− OpEx
−$45.8K −$4.94/SF
NOI
$106.8K $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%
$2,136,100
Cap Rate 7%
$1,525,786
Cap Rate 9%
$1,186,722
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $106,805 @ 7.0% cap · market cap 5.95%
Second Best
Flex RnD
$1.35M
$1.18M – $1.58M
NOI $94,587 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,088 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32926, FL
22,693
Population
10,796
Households
2.1
Avg Household Size
49
Median Age
22%
College-Educated
88%
High-School Grad
49.3 sq mi
ZIP Area
460
Density / Sq Mi
$65,092
Median Household Income
$36,795
Median Earnings
$1,297
Median Rent
$251,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined showroom and warehouse configuration with polished concrete floors, LED lighting, and multiple grade-level loading doors.
Where is this flex space located?
The property is located at 3640 N Hwy 1 Cocoa, FL.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 9,264 SF CBS/metal flex building constructed in 2018 and expanded in 2022; Estimated 2,000 SF showroom plus approximately 7,264 SF warehouse/shop area; Clear height ranges from 18' 6'' to 20' +/-
