Free Standing Retail
For Sale
$180,000
515 Garden Street, Titusville, FL 32796
Updated standalone retail building with an open floor plan, ample parking, and road frontage.
Property Size1,150 SF
Price / SF$156.52
Days on Market325
Property Features for 515 Garden Street
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Retail
Zoning
Neighborhood Commercial Mixed Use
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,747
Amenities
Central Air, Electric
3
Laminate
Parking.
Assigned Parking Space, Lot.
Other.
Building Details
Year Built
1952
Listing Agency:
Noble & Co. R.E. Professionals
(321) 607-1311
Listed By:
Courtney Noble · License #3135692
(321) 607-1311
Source:
Xome
Added: Oct 4, 2025
Changed: Aug 23
Last Checked: Aug 24 at 5:30AM
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 Noble & Co. R.E. Professionals
Investment Insights
Based on property information with market context.
This updated free standing retail building offers an open floor plan designed for flexible retail use. The roof was replaced in 2016, the 2.5 ton HVAC was replaced in 2015, and the windows were replaced in 2010. An ADA entrance ramp was installed in 2013, supporting accessible entry.
The property includes ample parking and road frontage on Garden Street. It is currently used as retail and is described with Neighborhood Commercial Mixed Use zoning.
On-site utilities and services include city water/sewer and 220V electrical, and the parcel has a saltwater well.
The property includes ample parking and road frontage on Garden Street. It is currently used as retail and is described with Neighborhood Commercial Mixed Use zoning.
On-site utilities and services include city water/sewer and 220V electrical, and the parcel has a saltwater well.
Key Highlights
- 1,150 SF freestanding retail building on Garden Street with an open floor plan
- Neighborhood Commercial Mixed Use (NC‑MU) zoning with road frontage
- Ample parking for customers
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
$13,258
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
7.37%
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%
$265,160
$265.2K
Cap Rate 7%
$189,400
$189.4K
Cap Rate 9%
$147,311
$147.3K
Market Conditions
NOI Build-Up for 1,150 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
$20.7K $18.00/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$18.9K $16.47/SF
− OpEx
−$5.7K −$4.94/SF
NOI
$13.3K $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%
$265,160
Cap Rate 7%
$189,400
Cap Rate 9%
$147,311
Alternative Uses
Best Use
Retail
$189.4K
$165.7K – $221.0K
NOI $13,258 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$303.4K
$265.5K – $354.0K
NOI $21,238 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 23%
Groceries 12%
Apparel 4%
Cumberland Farms
Shops & Services
21,149 visits/mo
0.2 miles
Burger King
Dining
9,730 visits/mo
0.3 miles
7-Eleven
Shops & Services
6,355 visits/mo
0.2 miles
Save-A-Lot
Groceries
5,661 visits/mo
0.2 miles
Surf Style
Apparel
2,032 visits/mo
0.3 miles
Demographics for 32796, FL
20,818
Population
9,670
Households
2.2
Avg Household Size
50
Median Age
28%
College-Educated
90%
High-School Grad
14.4 sq mi
ZIP Area
1,446
Density / Sq Mi
$67,399
Median Household Income
$40,368
Median Earnings
$1,305
Median Rent
$243,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Updated standalone retail building with an open floor plan, ample parking, and road frontage.
Where is this retail space located?
The property is located at 515 Garden Street Titusville, FL.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1,150 SF freestanding retail building on Garden Street with an open floor plan; Neighborhood Commercial Mixed Use (NC‑MU) zoning with road frontage; Ample parking for customers
