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    1231 Garden St Titusville, FL 32796

    Sponsored
    For Lease
    $15 SF/Yr

    Prime Titusville Office Suites Available

    Lot size:
    20,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional three-building office and retail complex, situated on 1.14 acres in Titusville, Florida, offers 20,000 square feet of space across 13 suites. Built in 1986, the property boasts recently renovated suites, a fresh coat of paint, updated façade signage, and a newly renovated parking lot. The meticulously maintained landscaping enhances the professional image of this multi-tenant property. Seven spaces are currently available, ranging from 600 to 2,709 square feet, perfect for a variety of businesses. The complex benefits from a highly visible location on the Garden Street corridor, surrounded by major retail anchors including Publix, Dollar General, McDonald's, Wendy's, Family Dollar, Beall's Outlet, Payless Shoes, Sally Beauty, Ace Hardware, Burger King, Walgreens, CVS Pharmacy, and Kentucky Fried Chicken. The property is zoned for office and retail use and features a prominent monument sign. This is an excellent opportunity to establish a presence in a thriving Titusville commercial hub. The property's address is 1231 Garden St, Titusville, FL 32796, and its APN is 22-35-04-01-00042.3-0000.00. The property is located in Brevard County and the Titusville submarket.

    Property Features for 1231 Garden St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,000 SF
    Total Rate
    25000

    Building Details

    Year Built
    1986
    Buildings
    3
    Stories
    2

    Unit(s) available at that property

    Space
    Unit 1229
    Size
    2,709 SF
    Rate per SF
    $15
    Space
    Unit 1B
    Size
    600 SF
    Rate per SF
    $18
    Space
    Unit 2A
    Size
    800 SF
    Rate per SF
    $18
    Space
    Unit 2C
    Size
    700 SF
    Rate per SF
    $18
    Space
    Unit 1A
    Size
    800 SF
    Rate per SF
    $18
    Space
    Unit 2D
    Size
    700 SF
    Rate per SF
    $18
    Space
    Unit 2E
    Size
    700 SF
    Rate per SF
    $18

    HighLights

    • High‑visibility location at the I‑95 intersection in Titusville, one of only two such locations.
    • Excellent access to I‑95, situated just one mile away.
    • Convenient proximity to US Highway 1, located one mile to the west.
    • Ample parking available with a bonus lot.
    • Recently renovated building offering a modern and updated space.
    • Attractive leasing incentives currently available for new tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Agile-ity Inc. Business Management Consultant Access Appraisal Corporation Real Estate Appraiser Today Insurance Services Insurance Agency monarch Duct cleaning ... Cleaners

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Titusville
    County
    Brevard
    State
    Florida
    Longitude
    -80.817878817231
    Latitude
    28.61454143616

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    FAQs

    What type of property is this?
    Retail property - Prime Titusville Office Suites Available
    Where is this retail property located?
    The property is located at 1231 Garden St Titusville, FL.
    What is the lease rate?
    The lease rate is $15-$18 SF/Yr.
    What are key features of this property?
    This property features: High-visibility location at the I-95 intersection in Titusville, one of only two such locations.; Excellent access to I-95, situated just one mile away.; Convenient proximity to US Highway 1, located one mile to the west.
    Request Owner's contact information
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    Titusville, FL 32796
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1231 Garden St Titusville, FL 32796
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