Multi-Tenant Office
505 Brevard Ave Cocoa, FL 32922
For Sale
Contact for pricing
Multi-tenant office building anchored by Chase Bank, located on a full city-block site with zoned redevelopment potential.
Property Size15,575 SF
Lot Size1.33 Acres
Price / SF$317.82
Days on Market504
Property Features for 505 Brevard Ave
General Information
Standard status
Active
Size
15,575 SF
Lot size
1.33 Acres
Property subtype
OFFICE
Listing Agency:
JM Real Estate - Melbourne
(314) 795-4339
Listed By:
Nicole Reed · License #BK3408136
Source:
Moodyscre
Added: Mar 14, 2025
Changed: Jul 26
Last Checked: Jul 29 at 3:32PM
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 JM Real Estate - Melbourne
Investment Insights
Based on property information with market context.
This multi-tenant office building is offered as a redevelopment opportunity within Cocoa Village. The property includes a chase bank as the anchor tenant and is supported by recent zoning regulation changes that allow for higher density and height. The site consists of a 15,575-square-foot building and a parking lot that together encompass one full city block, positioned on a 1.33-acre lot.
The property is located near Cocoa Village and is adjacent to Cocoa City Hall and the Post Office. The zoning is CBD-CVO, described as a central business district with a Cocoa Village overlay.
The combination of an existing multi-tenant office configuration and updated zoning parameters may support future vertical mixed-use redevelopment on this block-scale parcel.
The property is located near Cocoa Village and is adjacent to Cocoa City Hall and the Post Office. The zoning is CBD-CVO, described as a central business district with a Cocoa Village overlay.
The combination of an existing multi-tenant office configuration and updated zoning parameters may support future vertical mixed-use redevelopment on this block-scale parcel.
Key Highlights
- Multi‑tenant office building anchored by Chase Bank
- 15,575 SF building on a 1.33‑acre lot
- Building and parking lot encompass 1 full city block
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $336.4k | $21.60 |
| − Vacancy | −$53.8k | −$3.46 |
| EGI | $282.6k | $18.14 |
| − OpEx | −$70.6k | −$4.54 |
| NOI | $211.9k | $13.61 |
15,575 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.03M
$2.65M – $3.53M
NOI $211,945 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.11M
$3.60M – $4.79M
NOI $287,639 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building anchored by Chase Bank, located on a full city-block site with zoned redevelopment potential.
Where is this office building located?
The property is located at 505 Brevard Ave Cocoa, FL.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Multi‑tenant office building anchored by Chase Bank; 15,575 SF building on a 1.33‑acre lot; Building and parking lot encompass 1 full city block
