Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Dr Joe Lee Smith Dr Rockledge, FL 32955
    Back to Search
    Property profile & analytics

    Dr Joe Lee Smith Dr, Rockledge, FL 32955

    View on Map
    • Warehouses
    • 13,376 SF
    • 26.89 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 0 Dr Joe Lee Smith Dr

    Year built
    2025
    Lot size
    26.89 lot acres
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional Class A industrial park in Rockledge, Florida, presents a compelling investment opportunity. Comprising eight buildings totaling 13,376 square feet across 26.89 acres, this 2025-built property features 64 individual units ranging from 1,672 to 2,246 square feet, many with mezzanine storage. Units boast 18-foot ceilings, 14 dock-high doors, and 8 loading docks, supported by 386 parking spaces. The property benefits from M2 & Industrial Park zoning, allowing for diverse uses. Cutting-edge systems, including energy-efficient lighting and HVAC, enhance operational efficiency and sustainability. Two additional build-ready lots (3.03 and 0.72 acres) offer further development potential. The strategic location provides easy access to US Highway 1, I-95, Port Canaveral, and nearby airports, capitalizing on the Space Coast's thriving aerospace, defense, technology, and logistics sectors. The asking price is $2,395,000, with a price per unit of $300,000. This property offers significant potential for investors and businesses seeking modern, flexible industrial space in a high-growth area. Three-phase power is available in each bay, and office space can be customized to tenant needs or delivered at a standard 1:1 ratio. The property's open layouts and ample parking further enhance its appeal. The combination of modern amenities, strategic location, and strong market demand makes Eyster Commons a highly attractive investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rockledge
    County
    Brevard
    State
    Florida
    Longitude
    -80.7177
    Latitude
    28.3214

    Comparable in this City

    • Value Estimation by Request
      13,500 SF

      222 Yellow Pl

      Distribution properties
      222 Yellow Pl, Rockledge, FL 32955
      View Details
    • Value Estimation by Request
      47,000 SF

      1535 Cogswell St

      Distribution properties
      1535 Cogswell St, Rockledge, FL 32955
      View Details
    • Value Estimation by Request
      14,100 SF

      1765 Jack Oates Blvd

      Distribution properties
      1765 Jack Oates Blvd, Rockledge, FL 32955
      View Details
    • Value Estimation by Request

      2065 Hwy 1 Blvd

      Distribution properties
      2065 Hwy 1 Blvd, Rockledge, FL 32955
      View Details
    • Value Estimation by Request
      4,872 SF

      1795 Cogswell St

      Distribution properties
      1795 Cogswell St, Rockledge, FL 32955
      View Details
    • Value Estimation by Request

      275 Paint St

      Distribution properties
      275 Paint St, Rockledge, FL 32955
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Rockledge Industrial Facility For Sale

      18,843 SF industrial facility with office and warehouse space.
      485 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    • Contact for pricing

      Rockledge Industrial Facility For Sale

      18,843 SF industrial facility on 1.55 acres in Rockledge, Florida.
      485 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    • Contact for pricing
      9,320 SF

      Rockledge Multi-Tenant Warehouse For Sale

      Multi-tenant warehouse in Rockledge with value-add opportunity.
      575-577 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    • Contact for pricing
      4,800 SF

      Functional Office Suite with Warehouse

      Office suite with warehouse bay in Rockledge industrial location.
      1795 Cogswell St, Rockledge, FL 32955
      View Details
    • Contact for pricing
      32,896 SF

      Rockledge Industrial Property for Sale

      40,000 SF industrial property in Rockledge, Florida.
      1826 Baldwin St, Rockledge, FL 32955
      View Details
    • $1,400,000
      2.45 Acres

      Rockledge Industrial Lot For Sale

      2.45 acre industrial lot ready for development or storage.
      275 Paint St, Rockledge, FL 32955
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      4,872 SF

      Rockledge Warehouse For Lease

      Industrial Space, Prime Location
      1795 Cogswell St, Rockledge, FL 32955
      View Details
    • Contact for pricing

      Rockledge Industrial/Flex Space Available

      5,000 SF flex space in Rockledge's industrial hub.
      550 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    • Contact for pricing
      24,360 SF

      High-Bay Warehouse with Office Space

      24,360 SF warehouse with offices available for sublease.
      350 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    • $14 SF/Yr

      Rockledge Industrial Facility For Lease

      Industrial facility with office and warehouse space available for lease.
      485 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    • Contact for pricing
      5,000 SF

      Rockledge Industrial/Flex Space Available

      Industrial/flex space in Rockledge's business hub, convenient location.
      550 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    • Contact for pricing

      Rockledge Warehouse with Office Space

      4,950 SF warehouse with office in Rockledge's industrial corridor.
      525 Gus Hipp Blvd, Rockledge, FL 32955
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Dr Joe Lee Smith Dr
    Rockledge, FL 32955
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Dr Joe Lee Smith Dr, Rockledge, FL, 32955
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!