1122 Lk Dr Ste A Cocoa, FL 32922-8682
- Strip malls
- 2,140 SF
- 0.21 lot acres
Current Use by Public Records
- CWA Local 3101 / Association Or Organization
- Space Coast Model Train Club / Museum
- Clontz Construction / General Contractor
- Space Coast AFL-CIO Council / Labor Union
- Communications Workers-America / Labor Union
Property Details for 1122 Lk Dr Ste A
- Year built
- 1960
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.21 lot acres
- Property size
- 2,140 SF
- Zone code
- CW
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 24-36-32-03-00000.0-0015.01
- APU
- 9223372036854775807
Description
This 5,323 square foot shopping center in Cocoa, Florida presents a compelling value-add investment opportunity. Located at 1122 Lake Drive, this single-story, 1960-built property underwent renovations in 2005. The property features eight individual retail units, currently operating under a gross lease structure, offering a multi-tenant occupancy. The 0.21-acre lot is zoned B, providing flexibility for future development. With a total of 5,323 net rentable square feet, the asking price is $695,000, translating to $130.57 per square foot. The property's diverse unit sizes cater to a variety of tenants, enhancing investment stability and offering significant upside potential. This Class C property is an owner-user investment opportunity in a growing area of Brevard County, Florida, with the potential for increased rental income and property appreciation. The property's location in Cocoa, FL (zip code 32922) provides convenient access to local amenities and a growing population. The APN is 24-36-32-03-*-15.01. This is a rare opportunity to acquire a well-located, multi-tenant retail property with significant potential for growth.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $510,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $510,000
- 6.5%
- $510,000
- 7%
- $475,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $485,000
- Geo Method
- $575,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $585,000
- Retail
- $550,000
- Mixed-Use
- $495,000
- Hospitality
- $565,000
- Educational
- $435,000
- Residential Income
- $550,000
- Energy
- $495,000
- Income-Based Land
- $565,000
- Food Service
- $445,000
Location Insight
- Map
- Local Demand
- City
- Cocoa
- County
- Brevard
- State
- Florida
- Longitude
- -80.7457
- Latitude
- 28.3569
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
