Concrete Block Mixed-Use
For Sale
$489,000
71 N Orlando Avenue 3, Cocoa Beach, FL 32931
Commercially zoned condo structure with second-story expansion potential on a major Cocoa Beach corridor.
Property Size1,460 SF
Price / SF$334.93
Days on Market42
Property Features for 71 N Orlando Avenue 3
General Information
Standard status
Active
Size
1,460 SF
Building Details
Construction
concrete block
Listing Agency:
C. Apollo Realty Inc
(321) 784-9602
Listed By:
Rebecca L Sparks · License #611940
(321) 784-9602
Source:
Startbrevardsearch
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 3:30PM
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 C. Apollo Realty Inc
Investment Insights
Based on property information with market context.
Located at 71 N Orlando Avenue, Unit 3, this 1,460-square-foot mixed-use condo property features a concrete block structure and commercial zoning. The existing configuration offers a compact commercial footprint with the documented possibility of adding a second story, creating room for expanded commercial use or a residential buildout above.
The property sits along a major Cocoa Beach corridor near the beach and surrounding local businesses. Its setting is identified with steady foot traffic, tourist activity, and access to the area's active commercial environment. The site is approximately 1000M from the beach, placing it within walking distance of a major coastal attraction.
The property sits along a major Cocoa Beach corridor near the beach and surrounding local businesses. Its setting is identified with steady foot traffic, tourist activity, and access to the area's active commercial environment. The site is approximately 1000M from the beach, placing it within walking distance of a major coastal attraction.
Key Highlights
- 1,460‑square‑foot concrete block condo structure
- Commercial zoning on a major Cocoa Beach corridor
- Documented potential for a second story
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
$19,868
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
4.06%
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%
$397,360
$397.4K
Cap Rate 7%
$283,829
$283.8K
Cap Rate 9%
$220,756
$220.8K
Market Conditions
NOI Build-Up for 1,460 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
$31.5K $21.60/SF
− Vacancy
−$5.0K −$3.46/SF
EGI
$26.5K $18.14/SF
− OpEx
−$6.6K −$4.54/SF
NOI
$19.9K $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 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%
$397,360
Cap Rate 7%
$283,829
Cap Rate 9%
$220,756
Alternative Uses
Best Use
Office B
$283.8K
$248.4K – $331.1K
NOI $19,868 @ 7.0% cap · market cap 4.06%
Second Best
Mixed Use
$242.0K
$211.8K – $282.3K
NOI $16,940 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$385.2K
$337.0K – $449.4K
NOI $26,963 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
829
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned condo structure with second-story expansion potential on a major Cocoa Beach corridor.
Where is this mixed-use property located?
The property is located at 71 N Orlando Avenue 3 Cocoa Beach, FL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 1,460‑square‑foot concrete block condo structure; Commercial zoning on a major Cocoa Beach corridor; Documented potential for a second story
