Contiguous Office Condo
For Sale
$400,000
422-1980 N Atlantic Ave, Cocoa Beach, FL 32931
Four contiguous office units total 1,188 square feet, with multiple offices, a conference room, and secure 24-hour access.
Property Size1,188 SF
Price / SF$336.70
Days on Market368
Property Features for 422-1980 N Atlantic Ave
General Information
Standard status
Active
Size
1,188 SF
Additional Details
Sprinkler System
Yes
Office Units
4
Taxes and HOA fees
Annual Taxes
$450
Building Details
Stories
10
Listing Agency:
NextHome Platinum
(321) 508-7932
Listed By:
William Kehoe
(321) 508-7932
Source:
Exprealty
Added: Aug 29, 2025
Changed: Aug 20
Last Checked: Aug 30 at 10:02PM
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 NextHome Platinum
Investment Insights
Based on property information with market context.
This offering consists of four contiguous office condo units in a 10-story commercial building. The space includes four individual offices, a bull pen, a server room, a copy/storage area with shelves, and a large conference room. The building provides fire protection via sprinklers, along with secure after-hours locking doors and 24-hour access through automatic front doors.
The building features plenty of parking in both the front and rear, and there are three elevators for access. Digital and pylon signage is available through the Association. The property also benefits from brand new impact windows and exterior paint. Public restrooms are available on floors 2 through 10.
FedEx and UPS provide onsite lobby pickup, and the remarks indicate a diverse tenant mix with most commercially zoned businesses allowed. The owner is a licensed real estate broker.
The building features plenty of parking in both the front and rear, and there are three elevators for access. Digital and pylon signage is available through the Association. The property also benefits from brand new impact windows and exterior paint. Public restrooms are available on floors 2 through 10.
FedEx and UPS provide onsite lobby pickup, and the remarks indicate a diverse tenant mix with most commercially zoned businesses allowed. The owner is a licensed real estate broker.
Key Highlights
- Four contiguous office units totaling 1,188 SF in a 10‑story commercial condo office building
- Suite features 4 individual offices plus a bull pen, server room, copy/storage area with shelves, and a large conference room
- 24‑hour building access with automatic front doors and secure after‑hours locking doors
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
$16,166
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
4.04%
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%
$323,320
$323.3K
Cap Rate 7%
$230,943
$230.9K
Cap Rate 9%
$179,622
$179.6K
Market Conditions
NOI Build-Up for 1,188 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
$25.7K $21.60/SF
− Vacancy
−$4.1K −$3.46/SF
EGI
$21.6K $18.14/SF
− OpEx
−$5.4K −$4.54/SF
NOI
$16.2K $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%
$323,320
Cap Rate 7%
$230,943
Cap Rate 9%
$179,622
Alternative Uses
Best Use
Office B
$230.9K
$202.1K – $269.4K
NOI $16,166 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.4K
$274.3K – $365.7K
NOI $21,940 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 32931, FL
13,643
Population
10,763
Households
1.3
Avg Household Size
60
Median Age
52%
College-Educated
97%
High-School Grad
5.2 sq mi
ZIP Area
2,624
Density / Sq Mi
$84,769
Median Household Income
$51,769
Median Earnings
$1,533
Median Rent
$478,300
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 contiguous office units total 1,188 square feet, with multiple offices, a conference room, and secure 24-hour access.
Where is this office units located?
The property is located at 422-1980 N Atlantic Ave Cocoa Beach, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four contiguous office units totaling 1,188 SF in a 10‑story commercial condo office building; Suite features 4 individual offices plus a bull pen, server room, copy/storage area with shelves, and a large conference room; 24‑hour building access with automatic front doors and secure after‑hours locking doors
