Building Details

Building Size 15,575 SF

Tenancy Multi

Listing Agency: JM Real Estate

Listed By: Nicole Reed · License #BK3408136 Show Phone

Source: Commercialcafe

Added: Jul 24 Changed: Oct 25 Last Checked: Oct 28 at 5:18AM

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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

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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.

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

Estimated NOI and Cap Rate

NOI / Yr

$211,945

Cap Rate

4.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,238,900 $4.2M

Cap Rate 7%

$3,027,786 $3.0M

Cap Rate 9%

$2,354,944 $2.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,575 SF

Gross rent

$336.4K $21.60/SF

− Vacancy

−$53.8K −$3.46/SF

EGI

$282.6K $18.14/SF

− OpEx

−$70.6K −$4.54/SF

NOI

$211.9K $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 Rate 5%

$4,238,900

Cap Rate 7%

$3,027,786

Cap Rate 9%

$2,354,944

Alternative Uses

Best Use

Office B

$3.03M

$2.65M – $3.53M (±1% cap)

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 (±1% cap)

NOI $287,639 @ 7.0% cap · market cap 5.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Chase Mortgage Loan Service Lifetime Counseling Center Life Coach Applied Global Technologies ... IT Consulting Firm Family Counseling Center ... Counselor Accel IP Law Law Firm

Suggested Use

Top Pick Parking Lot & Garage Garden Center Bakery HVAC Service (Bike/Boat/Book/etc) Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,280

Businesses Nearby

Explore this area Business Placement

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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