Downtown Commercial Duplex For
For Sale
Contact for pricing
818 & 822 Garden Street, Titusville, FL 32796
Commercial duplex in downtown area, live/work opportunity.
Property Size1,960 SF
Price / SF$153.01
Days on Market1116
Property Features for 818 & 822 Garden Street
General Information
Standard status
Active
Size
1,960 SF
Property subtype
Office, Retail
Building Details
Year Built
1959
Stories
1
Units
2
Listing Agency:
Florida Homes Rlty. & Mtg. LLC
Listed By:
Richard Jordan
Source:
Crexi
Added: Aug 8, 2023
Changed: Aug 24
Last Checked: Aug 23 at 6:14AM
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 Florida Homes Rlty. & Mtg. LLC
Investment Insights
Based on property information with market context.
This commercial duplex is located in the downtown secondary area on the Garden Street beach corridor. The property offers a live-work opportunity, with city council having approved drafting an ordinance for live/work units in the Office/Professional districts. The building is zoned OP (Office Professional) with a current building use of Retail. Both units are currently vacant. Unit 818 is approximately 1100 square feet and features an open lobby, 2 private rooms, a bathroom, and utility storage with washer/dryer hookup. Unit 822 is approximately 800 square feet and features 2 rooms, an open area, laundry with washer/dryer hookup, and 2 restrooms. Formerly occupied as a hair salon, it includes plumbing and sinks for wash stations. Unit 818 was formerly occupied by multiple businesses and once served as the owner's living quarters. The property is within walking distance to riverfront parks and shopping, and is a 12-mile straight shot to Playlinda Beach & Cape Canaveral National Seashore. The property has a new roof as of 2023 and new paint as of 2024. Unit 818 is scheduled to have a new HVAC in 2025. The total property size is 1960 square feet.
Key Highlights
- Live/work opportunity in downtown secondary area on Garden Street beach corridor (ordinance pending).
- Zoned OP (Office Professional) with current retail use, offering business flexibility.
- Two vacant units: 818 (approx 1100 sqft) and 822 (approx 800 sqft).
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
$26,672
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
8.89%
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%
$533,440
$533.4K
Cap Rate 7%
$381,029
$381.0K
Cap Rate 9%
$296,356
$296.4K
Market Conditions
NOI Build-Up for 1,960 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
$42.3K $21.60/SF
− Vacancy
−$6.8K −$3.46/SF
EGI
$35.6K $18.14/SF
− OpEx
−$8.9K −$4.54/SF
NOI
$26.7K $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%
$533,440
Cap Rate 7%
$381,029
Cap Rate 9%
$296,356
Alternative Uses
Best Use
Office B
$381.0K
$333.4K – $444.5K
NOI $26,672 @ 7.0% cap · market cap 8.89%
Second Best
Mixed Use
$324.9K
$284.3K – $379.0K
NOI $22,741 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$517.1K
$452.5K – $603.3K
NOI $36,197 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,145
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial duplex in downtown area, live/work opportunity.
Where is this mixed-use property located?
The property is located at 818 & 822 Garden Street Titusville, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Live/work opportunity in downtown secondary area on Garden Street beach corridor (ordinance pending).; Zoned OP (Office Professional) with current retail use, offering business flexibility.; Two vacant units: 818 (approx 1100 sqft) and 822 (approx 800 sqft).
