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    Prime Commercial Land on Highway Title is generated by Realmo AI

    305 Laredo Dr, Cocoa, FL 32926

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    61.18 acre property with 25.139 acres of commercial real estate.

    Type:Land
    Lot size:
    61.18 Acres
    Added:
    Nov 15, 2023
    Days on Market:
    919
    Last Refresh:
    May 12 at 8:57 pm

    Property Features for 305 Laredo Dr

    General Information

    Standard status
    Active
    Lot size
    61.18 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Michael Dreyer

    Listing agent Michael Dreyer

    Listing office Dreyer & Associates Real Estate Group

    Listing date Nov 15, 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 Dreyer & Associates Real Estate Group

    HighLights

    • 25.139± acres of prime road front commercial real estate zoned for immediate development.
    • Located on Highway 520, a major 4‑lane artery with 1,021 feet of direct frontage, providing high visibility and accessibility.
    • City water, sewer, and electricity are readily available on‑site, facilitating immediate development.
    • Includes a 36.04± acre retention pond with ample storm water capacity.
    • 1,500 feet of road frontage along Laredo Boulevard, offering additional access points.
    • Easy access to major highways and interstates, ideal for commercial, residential, or self/RV storage development.

    Overview

    This 61.18± acre property features 25.139± acres of road front commercial real estate. The property has 1,021 feet of frontage on Highway 520, a major 4-lane artery leading into Cocoa off I-95, and 1,500 feet of road frontage along Laredo Boulevard. City water, sewer, and electricity are available at the site. The 61.18 acre property includes 25.14± acres commercially zoned fronting the major 4-lane Hwy 520, of which 7.239± acres are upland, and 17.9± acres are wetlands. The remaining 36.04± acres of the site is a retention pond. Of the 25.14± Commercially Zoned acres fronting the 4-Laned Hwy 520, 7.239± acres are upland ready for immediate development and 17.9± acres are classified as wetlands. These 17.9± acres could be mitigated and site fill dirt generated by building a small retention pond at the rear of that 17.9± acre parcel. The property offers easy access to major highways and interstates, making it suitable for commercial, residential, and potential self/RV storage development. It is situated close to shopping and entertainment options.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Cocoa
    County
    Brevard
    State
    Florida
    Longitude
    -80.8182
    Latitude
    28.3987

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    FAQs

    What type of property is this?
    Commercial land - 61.18 acre property with 25.139 acres of commercial real estate.
    Where is this commercial land located?
    The property is located at 305 Laredo Dr Cocoa, FL.
    What is the asking price?
    The asking price for this property is $2,295,000.
    What are key features of this property?
    This property features: **25.139± acres of prime road front commercial real estate zoned for immediate development.**; Located on Highway 520, a major 4‑lane artery with 1,021 feet of direct frontage, providing high visibility and accessibility.; City water, sewer, and electricity are readily available on‑site, facilitating immediate development.
    We can help!
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    Michael Dreyer
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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