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    Property profile & analytics

    1909 Unknown Cocoa, FL 32922

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1909 Unknown

    Property type
    Land
    Property subtype
    Apartment buildings

    Description

    This exceptional 8.8-acre commercial property, located at 1909 Unknown in Cocoa, Florida, presents a compelling investment opportunity. The expansive 384,199 square foot lot sits on a prominent corner, boasting high visibility at the intersection of Pineda and Columbia. Currently zoned RU 1-7, this land offers significant potential for multifamily development, allowing for a medium density of 7 residential units per acre. The property's classification includes Commercial, Apartment Building, and Residential uses, making it highly versatile and attractive to a range of developers. The asking price is $299,000, representing a significant value proposition given the land size, location, and zoning potential. This prime location in Brevard County, Florida, zip code 32922, offers easy access to major roadways and amenities, further enhancing its appeal. The property's coordinates are 28.37512 latitude and -80.7380716 longitude. This is an ideal opportunity for investors seeking to capitalize on the growing demand for residential units in a thriving Florida market. Serious inquiries are encouraged to explore the full potential of this remarkable investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cocoa
    County
    Brevard
    State
    Florida
    Longitude
    -80.7381
    Latitude
    28.3751

    Comparable in this City

    • Value Estimation by Request

      Fiske Blvd

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      0 Fiske Blvd, Cocoa, FL 32922
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    • Value Estimation by Request

      2317 Cocoa Blvd

      Multifamily properties
      2317 Cocoa Blvd, Cocoa, FL 32922
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    • Value Estimation by Request
      1,512 SF

      150 Peachtree St

      APARTMENT HOUSE (5+ UNITS) • 1,512 SF
      150 Peachtree St, Cocoa, FL 32922-7768
      View Details
    • Value Estimation
      $1,940,000
      19,952 SF

      1304 Fiske Blvd

      APARTMENT HOUSE (5+ UNITS) • 19,952 SF
      1304 Fiske Blvd, Cocoa, FL 32922-6851
      View Details
    • Value Estimation
      $1,220,000
      8,060 SF

      3 Pineapple Ave

      APARTMENT HOUSE (5+ UNITS) • 8,060 SF
      3 Pineapple Ave, Cocoa, FL 32922-4203
      View Details
    • Value Estimation
      $4,740,000
      52,898 SF

      1546 Clearlake Rd, Unit 202

      APARTMENT HOUSE (5+ UNITS) • 52,898 SF
      1546 Clearlake Rd, Cocoa, FL 32922-6604
      View Details

    Similar Nearby for Sale

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    • $1,700,000

      Prime Cocoa Apartment Building

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      Cocoa Riverfront Commercial Land

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      Cocoa Commercial Land Investment

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    Similar Nearby for Lease

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      6,000 SF

      Cocoa Commercial Opportunity

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    • $7 SF/Yr
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      Curtis Blvd Retail Opportunity

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      Commercial Land for Lease

      1.40 Acres on US-1, Cocoa, FL
      301 S Cocoa Blvd, Cocoa, FL 32922
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      Commercial Land for Lease

      3.08 acres of divisible land available for lease.
      1408 Peachtree St, Cocoa, FL 32922
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      12,769 SF

      Warehouse Opportunity on Cocoa Blvd

      Warehouse space with loading dock and high traffic location.
      951 N Cocoa Blvd, Cocoa, FL 32922
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    • $10 SF/Yr
      9,450 SF

      Lake Drive Industrial Complex

      Cocoa, FL Flex Space Available
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      View Details
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    1909 Unknown
    Cocoa, FL 32922
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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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