Cannabis Property with Industrial
For Sale
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941 N Cocoa Blvd, Cocoa, FL 32922
C-G-zoned commercial property with an industrial building constructed in 1979.
Property Size14,504 SF
Price / SF$216.73
Days on Market138
Property Features for 941 N Cocoa Blvd
General Information
Standard status
Active
Size
14,504 SF
Property subtype
Retail, Industrial
Zoning
C-G
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$223,189
Building Details
Year Built
1979
Year Renovated
2023
Buildings
2
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Matthews
(239) 994-9643
Listed By:
Alexander Machado · License #SL3507121
Source:
Crexi
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 29 at 1:59PM
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 Matthews
Investment Insights
Based on property information with market context.
This C-G-zoned commercial property includes an industrial building constructed in 1979. The property is located at 941 N Cocoa Blvd in Cocoa, Florida, within the 32922 ZIP code.
Key Highlights
- C‑G zoning designation
- Industrial building constructed in 1979
- Located at 941 N Cocoa Blvd, Cocoa, FL 32922
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
$167,217
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
5.32%
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%
$3,344,340
$3.3M
Cap Rate 7%
$2,388,814
$2.4M
Cap Rate 9%
$1,857,967
$1.9M
Market Conditions
NOI Build-Up for 14,504 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
$261.1K $18.00/SF
− Vacancy
−$22.2K −$1.53/SF
EGI
$238.9K $16.47/SF
− OpEx
−$71.7K −$4.94/SF
NOI
$167.2K $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%
$3,344,340
Cap Rate 7%
$2,388,814
Cap Rate 9%
$1,857,967
Alternative Uses
Best Use
Retail
$2.39M
$2.09M – $2.79M
NOI $167,217 @ 7.0% cap · market cap 5.32%
Second Best
Industrial
$1.27M
$1.11M – $1.48M
NOI $88,634 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,860 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Cannabis property - C-G-zoned commercial property with an industrial building constructed in 1979.
Where is this cannabis property located?
The property is located at 941 N Cocoa Blvd Cocoa, FL.
What is the asking price?
The asking price for this property is $3,143,507.
What are key features of this property?
This property features: C‑G zoning designation; Industrial building constructed in 1979; Located at 941 N Cocoa Blvd, Cocoa, FL 32922
