Retail Plaza on U.S.
For Sale
Contact for pricing
966 - 970 N Cocoa Boulevard, Cocoa, FL 32922
Retail plaza with frontage on U.S. Highway 1.
Property Size8,208 SF
Price / SF$194.93
Days on Market1060
Property Features for 966 - 970 N Cocoa Boulevard
General Information
Standard status
Active
Size
8,208 SF
Property subtype
Office, Retail
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
1982
Units
12
Tenancy
Multi
Listing Agency:
Charles A. Von Stein, Inc
Listed By:
Kirk Von Stein
(772) 778-4885
Source:
Crexi
Added: Oct 24, 2023
Changed: Sep 16
Last Checked: Sep 16 at 12:52PM
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.
This property features 301.39 lineal feet of frontage on U.S. Highway 1. It includes two entrances and exits on each side of the plaza. The location provides proximity to 528, offering direct access to Orlando and the beachside communities. The property has been renovated and includes a monument sign, new paint, facade signs over each business, and renovated suites. The landscape is regularly maintained.
Key Highlights
- High visibility with 301.39 lineal feet of frontage on U.S. Hwy 1.
- Excellent accessibility with two entrances/exits.
- Convenient location near 528, providing direct access to Orlando and beachside communities.
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
$94,630
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
5.91%
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%
$1,892,600
$1.9M
Cap Rate 7%
$1,351,857
$1.4M
Cap Rate 9%
$1,051,444
$1.1M
Market Conditions
NOI Build-Up for 8,208 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
$147.7K $18.00/SF
− Vacancy
−$12.6K −$1.53/SF
EGI
$135.2K $16.47/SF
− OpEx
−$40.6K −$4.94/SF
NOI
$94.6K $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%
$1,892,600
Cap Rate 7%
$1,351,857
Cap Rate 9%
$1,051,444
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.58M
NOI $94,630 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.89M – $2.53M
NOI $151,585 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
77k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 28%
Shops & Services 27%
Dining 26%
Superstores 16%
Tractor Supply Co.
Home Improvements & Furnishings
17,284 visits/mo
0.2 miles
McDonald's
Dining
13,888 visits/mo
0.3 miles
Big Lots
Superstores
12,195 visits/mo
0.2 miles
Exxon
Shops & Services
5,750 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
3,733 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Vintage Vinyl Records — 823 N Cocoa Blvd, Cocoa, FL 32922
- North Point — 840 N Cocoa Blvd, Cocoa, FL 32922
- Celebration Plaza — 28°22'25. 80°44'38., 7 US-1, Cocoa, FL 32922
Frequently Asked Questions
What type of property is this?
Shopping center - Retail plaza with frontage on U.S. Highway 1.
Where is this shopping center located?
The property is located at 966 - 970 N Cocoa Boulevard Cocoa, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: High visibility with 301.39 lineal feet of frontage on U.S. Hwy 1.; Excellent accessibility with two entrances/exits.; Convenient location near 528, providing direct access to Orlando and beachside communities.
