Renovated Single-Tenant NNN Retail
For Sale
$1,995,000
3700 Highway 1, Cocoa, FL 32926
Recently renovated single-tenant retail showroom/warehouse is leased on an NNN basis through March 2029.
Property Size10,570 SF
Price / SF$188.74
Days on Market176
Property Features for 3700 Highway 1
General Information
Standard status
Active
Size
10,570 SF
Total Parking Spaces
25
Property subtype
Retail
Lease Type
NNN
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Heavy Power
Yes
Additional Details
Lease Term
60 months
Cap Rate
7%
Traffic Count
32,500 vehicles/day
Taxes and HOA fees
Annual Taxes
$17,888
Amenities
Concrete
Parking.
Lot.
Clear lot.
Building Details
Year Built
1983
Year Renovated
2024
Tenancy
Single
Listing Agency:
The Ullian Realty Corporation
(321) 750-3439
Listed By:
Zachary Ullian · License #3445627
(321) 750-3439
Source:
Xome
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 11 at 4:42AM
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.
3700 N. Highway 1 is a recently renovated single-tenant retail showroom/warehouse leased to Juniper Mountain Coffee on an NNN basis. The property was fully renovated in 2024 and includes 100% HVAC, LED lighting, and polished concrete flooring. Clear height ranges from approximately 12’6” to 16’+/- and the building has one 10’ wide by 12’ tall +/- grade level door.
The building provides City Water and Septic service, with piped underground natural gas and 3-phase FPL electric. There are 25 asphalt paved/striped/illuminated parking spaces, and traffic is estimated at 32,500 VPD on US 1.
The initial lease term runs March 7, 2024 through March 6, 2029, with two additional 5-year renewal options. The offering indicates 10% base rent escalators in years 6 and 11 if the tenant renews.
The building provides City Water and Septic service, with piped underground natural gas and 3-phase FPL electric. There are 25 asphalt paved/striped/illuminated parking spaces, and traffic is estimated at 32,500 VPD on US 1.
The initial lease term runs March 7, 2024 through March 6, 2029, with two additional 5-year renewal options. The offering indicates 10% base rent escalators in years 6 and 11 if the tenant renews.
Key Highlights
- 10,570 SF single‑tenant retail showroom/warehouse on an NNN basis, leased to Juniper Mountain Coffee.
- Initial lease runs March 7, 2024 through March 6, 2029, with two 5‑year renewal options.
- Renovated in 2024 with 100% HVAC and LED lighting; polished concrete flooring.
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
$121,862
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
6.11%
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%
$2,437,240
$2.4M
Cap Rate 7%
$1,740,886
$1.7M
Cap Rate 9%
$1,354,022
$1.4M
Market Conditions
NOI Build-Up for 10,570 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
$190.3K $18.00/SF
− Vacancy
−$16.2K −$1.53/SF
EGI
$174.1K $16.47/SF
− OpEx
−$52.2K −$4.94/SF
NOI
$121.9K $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%
$2,437,240
Cap Rate 7%
$1,740,886
Cap Rate 9%
$1,354,022
Alternative Uses
Best Use
Retail
$1.74M
$1.52M – $2.03M
NOI $121,862 @ 7.0% cap · market cap 6.11%
Second Best
Warehouse
$1.04M
$910.4K – $1.21M
NOI $72,828 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,207 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
32,500 VPD
Traffic count
Single-tenant
Tenancy
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
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?
Retail space - Recently renovated single-tenant retail showroom/warehouse is leased on an NNN basis through March 2029.
Where is this retail space located?
The property is located at 3700 Highway 1 Cocoa, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 10,570 SF single‑tenant retail showroom/warehouse on an NNN basis, leased to Juniper Mountain Coffee.; Initial lease runs March 7, 2024 through March 6, 2029, with two 5‑year renewal options.; Renovated in 2024 with 100% HVAC and LED lighting; polished concrete flooring.
