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    1015 Gdn 1015 St Titusville, FL 32796

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    1015 Gdn 1015 St Titusville, FL 32796

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    • Retail properties & Spaces
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    • Retail properties & Spaces

    Property Details for 1015 Gdn 1015 St

    Year built
    1966
    Property type
    Retail properties & Spaces

    Description

    This exceptional investment opportunity presents a fully occupied retail center totaling over 7,000 square feet, strategically located on high-traffic Garden Street (Route 406) in Titusville, Florida. Situated just moments from the heart of downtown Titusville, this property boasts four individual retail units, each currently leased to strong tenants under long-term agreements. Recent updates have been completed throughout the center, enhancing its appeal and functionality. A key advantage lies in the current below-market rental rates, presenting a significant opportunity for immediate and substantial rental income growth. The property's strong occupancy rate of 100% ensures a consistent cash flow, making it an attractive proposition for investors seeking a stable and appreciating asset. This prime location on a major thoroughfare guarantees high visibility and accessibility, attracting a steady stream of potential customers. The property's suitability for 1031 exchange benefits further enhances its appeal to sophisticated investors. Detailed financial information is available upon request. This is a rare chance to acquire a well-maintained, high-performing retail center with significant upside potential in a thriving Florida community. Interested parties should review the provided documentation for a comprehensive brochure.

    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
    -80.8151
    Latitude
    28.6151

    Comparable in this City

    • Value Estimation
      $830,000
      4,320 SF

      710 Orange St

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    • Value Estimation by Request
      1,326 SF

      910 Tropic St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,326 SF
      910 Tropic St, Titusville, FL 32796-3475
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    • Value Estimation by Request
      119,489 SF

      3275 Garden St

      Retail properties & Spaces • 119,489 SF
      3275 Garden St, Titusville, FL 32796
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    • Value Estimation by Request
      2,262 SF

      350 Canaveral Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,262 SF
      350 Canaveral Ave, Titusville, FL 32796-3426
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    • Value Estimation by Request
      1,239 SF

      664 Park Ave

      Lifestyle centers • 1,239 SF
      664 Park Ave, Titusville, FL 32796
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    • Value Estimation by Request
      2,500 SF

      2145 Silver Star Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,500 SF
      2145 Silver Star Rd, Titusville, FL 32796-2654
      View Details

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    Similar Nearby for Lease

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    Titusville, FL 32796
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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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