Storefront Property with
New
For Sale
$600,000
406 Florida Avenue, Cocoa, FL 32922
Commercial Sale, Cocoa, FL
Property Size1,581 SF
Lot Size0.13 Acres
Price / SF$379.51
Days on Market5
Property Features for 406 Florida Avenue
General Information
Property type
Residential
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Secured, Gated, On Street, Off Street
Fencing
Chain Link
Subdivision
Hardees Plat of Indian River City
Lot features
Historic Area
Directions
From 520 head North on Florida Ave. Freestanding building on east side of road across from Crydermans BBQ.
Standard status
Active
APN
24-36-33-35-00000.0-0023.02
Size
1,581 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HARDEES PLAT OF INDIAN RIVER CITY S 1/2 OF LOT 23 & N 1/2 VACATED LEMON ST ON S EX ORB 554 PG 797
Tax Annual Amount
8137
Legal Description
HARDEES PLAT OF INDIAN RIVER CITY S 1/2 OF LOT 23 & N 1/2 VACATED LEMON ST ON S EX ORB 554 PG 797
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Ductless
Water source
Public
Amenities
outdoor fenced courtyard
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Stucco
Listing Agency:
Kimco Real Estate
Listed By:
Kim Forbes Stewart · License #3011116
(321) 302-1312
Added: Sep 28
Last Checked: Oct 2 at 4:06AM
MLS# 1088724
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 freestanding storefront contains 1,581 square feet on a 0.13-acre parcel. The interior is available for a tenant-specific build-out, with concrete flooring and one bathroom. Recent work includes two-phase electric service, paint, stucco, gutters, awnings, and lighting; new exterior doors are planned for installation. The building dates to 1950 and has ductless cooling, public water, and public sewer service.
A chain-link fence encloses the courtyard. The property is at 406 Florida Avenue in Cocoa, across from Cryderman's BBQ. Parking options include secured, gated, off-street, and on-street parking. The stated potential uses include retail, fitness, service office, and food or beverage businesses.
A chain-link fence encloses the courtyard. The property is at 406 Florida Avenue in Cocoa, across from Cryderman's BBQ. Parking options include secured, gated, off-street, and on-street parking. The stated potential uses include retail, fitness, service office, and food or beverage businesses.
Key Highlights
- 1,581‑square‑foot freestanding storefront on 0.13 acres
- Fenced outdoor courtyard
- Recent improvements include two‑phase electric, stucco, gutters, awnings, lighting, and paint
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
$18,227
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
3.04%
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%
$364,540
$364.5K
Cap Rate 7%
$260,386
$260.4K
Cap Rate 9%
$202,522
$202.5K
Market Conditions
NOI Build-Up for 1,581 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
$28.5K $18.00/SF
− Vacancy
−$2.4K −$1.53/SF
EGI
$26.0K $16.47/SF
− OpEx
−$7.8K −$4.94/SF
NOI
$18.2K $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%
$364,540
Cap Rate 7%
$260,386
Cap Rate 9%
$202,522
Alternative Uses
Best Use
Retail
$260.4K
$227.8K – $303.8K
NOI $18,227 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.1K
$365.0K – $486.6K
NOI $29,198 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,280
Businesses Nearby
31k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 31%
Home Improvements & Furnishings 1%
Truist
Shops & Services
5,407 visits/mo
0.2 miles
Mobil
Shops & Services
5,378 visits/mo
0.5 miles
Chase Bank
Shops & Services
4,545 visits/mo
0.0 miles
Dunkin' Donuts
Dining
4,408 visits/mo
0.5 miles
El Charro
Dining
2,948 visits/mo
0.3 miles
Demographics for 32922, FL
15,923
Population
8,667
Households
1.8
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
5.4 sq mi
ZIP Area
2,949
Density / Sq Mi
$46,138
Median Household Income
$35,125
Median Earnings
$1,057
Median Rent
$176,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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- Deluxe Flowers — 646 Brevard Ave, Cocoa, FL 32922
Frequently Asked Questions
What type of property is this?
Storefront property - A freestanding commercial space with a fenced outdoor area and recent exterior improvements.
Where is this storefront property located?
The property is located at 406 Florida Avenue Cocoa, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,581‑square‑foot freestanding storefront on 0.13 acres; Fenced outdoor courtyard; Recent improvements include two‑phase electric, stucco, gutters, awnings, lighting, and paint
