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    1053 1053 Hwy Titusville, FL 32780

    • Office Properties & Spaces
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 1053 1053 Hwy

    Year built
    1985
    Lot size
    0.05 lot acres
    Property type
    Office Properties & Spaces

    Description

    This beautifully renovated 435-square-foot office unit is ideally situated in the heart of Titusville, Florida, on Cheney Highway. Boasting excellent visibility due to significant daily traffic, this property offers a prime location for businesses seeking high exposure. The unit features an efficient layout and a recently updated bathroom. Its convenient location provides easy access to US-1 and I-95, ensuring effortless commutes for employees and clients. Ample parking is readily available within the well-established plaza. A unique investment opportunity exists with the adjacent condo soon to be listed for sale. The potential to expand your business footprint is significant, as the dividing wall between the units can be removed to create a larger space. This property presents a compelling combination of location, modern amenities, and future expansion possibilities, making it an exceptional investment in a thriving commercial area. The 0.05-acre lot provides ample space for the existing building and potential future expansion. This is a rare opportunity to secure a well-positioned office space with significant growth potential in a high-traffic area of Titusville.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Titusville
    County
    Brevard
    State
    Florida
    Longitude
    -80.815
    Latitude
    28.5573

    Comparable in this City

    • Value Estimation by Request
      21,269 SF

      3910 Washington Ave

      Office Properties & Spaces • 21,269 SF
      3910 Washington Ave, Titusville, FL 32780
      View Details
    • Value Estimation
      $255,000
      435 SF

      1075 Cheney Hwy, Unit 12

      CONDOMINIUM OFFICES • 435 SF
      1075 Cheney Hwy, Titusville, FL 32780-6356
      View Details
    • Value Estimation
      $255,000
      465 SF

      813 Cheney Hwy, Unit 4

      CONDOMINIUM OFFICES • 465 SF
      813 Cheney Hwy, Titusville, FL 32780-6960
      View Details
    • Value Estimation
      $260,000
      570 SF

      815 Cheney Hwy, Unit 6

      CONDOMINIUM OFFICES • 570 SF
      815 Cheney Hwy, Titusville, FL 32780-6960
      View Details
    • Value Estimation
      $85,000
      638 SF

      1051 Cheney Hwy, Unit 1

      CONDOMINIUM OFFICES • 638 SF
      1051 Cheney Hwy, Titusville, FL 32780-6356
      View Details
    • Value Estimation
      $260,000
      435 SF

      1071 Cheney Hwy, Unit 10

      CONDOMINIUM OFFICES • 435 SF
      1071 Cheney Hwy, Titusville, FL 32780-6356
      View Details

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    Similar Nearby for Lease

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    1053 1053 Hwy
    Titusville, FL 32780
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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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