Downtown Commercial Duplex For
818 & 822 Garden Street, Titusville, FL 32796
Commercial duplex in downtown area, live/work opportunity.
Type:Office, Retail
Property size:
1,960 SFPrice / SF:
$163/SF- Added:
- Aug 8, 2023
- Days on Market:
- 1025
- Last Refresh:
- May 12 at 9:11 pm
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
Listing agent Richard Jordan
Listing office Florida Homes Rlty. & Mtg. LLC
Listing date Aug 8, 2023
Source Crexi
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
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).
- Unit 822 features plumbing and sinks from previous hair salon.
- Recent upgrades: New roof (2023), new paint (2024), new HVAC for 818 (2025).
- Walking distance to riverfront parks and shopping; short drive to beaches.
Overview
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.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$296.4K
NOI $26,672 @ 9.00% cap · cautious / downside scenario
Moderate
$381.0K
NOI $26,672 @ 7.00% cap · market / base-case scenario
Aggressive
$533.4K
NOI $26,672 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.3k | $21.60 |
| − Vacancy | −$6.8k | −$3.46 |
| EGI | $35.6k | $18.14 |
| − OpEx | −$8.9k | −$4.54 |
| NOI | $26.7k | $13.61 |
1,960 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$381.0K
$333.4K – $444.5K
NOI $26,672 @ 7.0% cap · market cap 8.33%
Second Best
Mixed Use
$324.9K
$284.3K – $379.0K
NOI $22,741 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$517.1K
$452.5K – $603.3K
NOI $36,197 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Shelley's Tax Services
Tax Preparation
Location Insight
- Map
- Local Demand
- City
- Titusville
- County
- Brevard
- State
- Florida
- Longitude
- -80.8134821
- Latitude
- 28.6155739
Nearby Similar for Sale
FAQs
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 $320,000.
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).
