Multi-Tenant Retail and Office
For Sale
Contact for pricing
840-846 North Cocoa Blvd, Cocoa, FL 32922
Two single-story buildings with storefront visibility and abundant on-site parking support flexible retail and office use.
Property Size19,610 SF
Price / SF$163.18
Days on Market101
Property Features for 840-846 North Cocoa Blvd
General Information
Standard status
Active
Size
19,610 SF
Property subtype
Retail, Office
Zoning
CN Neighborhood Commercial
Lease Type
Modified Gross
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1983
Buildings
2
Stories
1
Units
10
Tenancy
Multi
Listing Agency:
Charles A. Von Stein, Inc
Listed By:
Kirk Von Stein
(772) 778-4885
Source:
Crexi
Added: May 29
Changed: Aug 31
Last Checked: Sep 3 at 8:08AM
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 Charles A. Von Stein, Inc
Investment Insights
Based on property information with market context.
North Point is a multi-tenant retail and office property featuring two single-story buildings comprising 10 units. Constructed in 1983–1984 with concrete block and stucco, the buildings present big storefront windows and open unit designs that can support a variety of retail or office layouts.
The property is located on U.S. Highway One in Cocoa, Florida, with access from both U.S. Highway One and Forrest Avenue. Parking is available in front of each unit, with additional parking between the two buildings, supporting convenient customer and employee circulation. The site is near the SR 520 causeway and is approximately 2.4 miles south of SR 528 (Beachline).
For buyers and operators, the configuration of multiple storefront and office-suitable units within a single campus can support leasing to a mix of retail and service-oriented tenants. Each unit’s front-facing parking and storefront glazing help make the space practical for businesses that benefit from direct, street-level presence.
The property is located on U.S. Highway One in Cocoa, Florida, with access from both U.S. Highway One and Forrest Avenue. Parking is available in front of each unit, with additional parking between the two buildings, supporting convenient customer and employee circulation. The site is near the SR 520 causeway and is approximately 2.4 miles south of SR 528 (Beachline).
For buyers and operators, the configuration of multiple storefront and office-suitable units within a single campus can support leasing to a mix of retail and service-oriented tenants. Each unit’s front-facing parking and storefront glazing help make the space practical for businesses that benefit from direct, street-level presence.
Key Highlights
- Multi‑tenant retail and office property in Cocoa, FL on U.S. Highway One
- Two single‑story buildings totaling 10 units with space from 1,310 to 2,904 SF
- Built in 1983–1984 with concrete block and stucco construction
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
$266,853
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
8.34%
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%
$5,337,060
$5.3M
Cap Rate 7%
$3,812,186
$3.8M
Cap Rate 9%
$2,965,033
$3.0M
Market Conditions
NOI Build-Up for 19,610 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
$423.6K $21.60/SF
− Vacancy
−$67.8K −$3.46/SF
EGI
$355.8K $18.14/SF
− OpEx
−$89.0K −$4.54/SF
NOI
$266.9K $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%
$5,337,060
Cap Rate 7%
$3,812,186
Cap Rate 9%
$2,965,033
Alternative Uses
Best Use
Office B
$3.81M
$3.34M – $4.45M
NOI $266,853 @ 7.0% cap · market cap 8.34%
Second Best
Retail
$3.23M
$2.83M – $3.77M
NOI $226,084 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$5.17M
$4.53M – $6.04M
NOI $362,157 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
587
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two single-story buildings with storefront visibility and abundant on-site parking support flexible retail and office use.
Where is this retail space located?
The property is located at 840-846 North Cocoa Blvd Cocoa, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Multi‑tenant retail and office property in Cocoa, FL on U.S. Highway One; Two single‑story buildings totaling 10 units with space from 1,310 to 2,904 SF; Built in 1983–1984 with concrete block and stucco construction
