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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1381 Clearlake Rd Cocoa, FL 32922-6492

    • Strip malls
    • 6,464 SF
    • 0.80 lot acres
    OFF-MARKET
    Last Sale
    Aug 19, 2021
    $750,000
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6102209
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Suite for lease Cocoa - The Campus Center / Retail Space Rental Agency
    • Cocoa Pawn and Treasures / Loan Agency / Gold Dealer

    Property Details for 1381 Clearlake Rd

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.80 lot acres
    Property size
    6,464 SF
    Zone code
    BU-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    24-36-19-75-00005.0-0001.00
    APU
    9223372036854775807

    Description

    This exceptional retail opportunity presents a 800-square-foot space available for lease at 1381 Clearlake Road in Cocoa, Florida, 32926. Situated within a larger 5,760-square-foot building constructed in 1981, this single-tenant unit is ideally positioned in a high-traffic area, benefiting from excellent visibility and accessibility. The property boasts a CS (Commercial Shopping) zoning designation, allowing for a diverse range of commercial uses. The building features a total of 29 parking spaces for ample customer and employee convenience. The 0.8-acre lot provides ample space and the building is six stories high. This location offers easy access to local amenities and major roadways, making it an attractive option for businesses seeking a prominent presence in the Cocoa market. The monthly rent is $1,000, plus a 3% sales tax. This space is perfect for a variety of retail businesses seeking a vibrant and accessible location in Cocoa, Florida. Don't miss this chance to secure a prime retail space in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $810,000
      ML approach
      $785,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,435,000
      6.5%
      $1,325,000
      7%
      $1,230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $909,000
      Market price range: $398k - $1.47M
      AI Estimate
      $676,000
      Market price range: $204k - $817k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $715,000
      Current use
      MEDICAL BUILDING
      $1,005,000
      Change: +40% Conversion: Difficult
      OFFICE BUILDING
      $980,000
      Change: +37% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $830,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $740,000
      Change: +3% Conversion: Easy
      WAREHOUSE, STORAGE
      $635,000
      Change: -11% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cocoa
    County
    Brevard
    State
    Florida
    Longitude
    -80.7554
    Latitude
    28.3793
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,368
    $55,490
    $478,470
    $533,960
    -
    $55,490
    $478,470
    $533,960

    Comparable in this City

    • Value Estimation
      $455,000
      16,421 SF

      4 Harrison St

      SHOPPING CENTER, STRIP CENTER • 16,421 SF
      4 Harrison St, Cocoa, FL 32922-7934
      View Details
    • Value Estimation
      $490,000
      2,140 SF

      1122 Lk Dr Ste A

      SHOPPING CENTER, STRIP CENTER • 2,140 SF
      1122 Lk Dr Ste A, Cocoa, FL 32922-8682
      View Details
    • Value Estimation
      $325,000
      2,184 SF

      2507 Cocoa Blvd

      SHOPPING CENTER, STRIP CENTER • 2,184 SF
      2507 Cocoa Blvd, Cocoa, FL 32922-7067
      View Details
    • Value Estimation
      $285,000
      2,500 SF

      421 Brevard Ave

      SHOPPING CENTER, STRIP CENTER • 2,500 SF
      421 Brevard Ave, Cocoa, FL 32922-7901
      View Details
    • Value Estimation
      $285,000
      4,345 SF

      1240 Dixon Blvd

      SHOPPING CENTER, STRIP CENTER • 4,345 SF
      1240 Dixon Blvd, Cocoa, FL 32922-4414
      View Details
    • Value Estimation
      $270,000
      3,388 SF

      804 Forrest Ave

      SHOPPING CENTER, STRIP CENTER • 3,388 SF
      804 Forrest Ave, Cocoa, FL 32922-7517
      View Details

    Similar Nearby for Sale

    • $825,000

      Retail Property with Two Buildings

      Two-building retail property with central location and easy highway access.
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    • $579,000

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      Commercial property with drive-thru, ideal for restaurant or redevelopment.
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      Cocoa Village Commercial Office Space

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      High-Visibility Commercial Property in Cocoa

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    Similar Nearby for Lease

    • Contact for pricing
      42,000 SF

      Byrd Plaza Retail Center

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      View Details
    • $10 SF/Yr
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      Dixon Plaza: Cocoa Retail Space

      Prime Cocoa retail center, 8,800 sq ft.
      904 Dixon Blvd, Cocoa, FL 32922
      View Details
    • $14 SF/Yr
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      Retail Space in Cocoa Center

      Retail space available in busy Cocoa retail center.
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    • $13 SF/Yr
      17,820 SF

      Oak Park Plaza: Cocoa Office Space

      Cocoa Office Suites, Prime Location
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    • Contact for pricing
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      Cocoa Commercial Opportunity

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    • $22 SF/Yr
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      Historic Cocoa Village Retail Space

      Retail space for lease in historic Cocoa Village.
      315-319 Brevard Ave, Cocoa, FL 32922
      View Details
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    1381 Clearlake Rd
    Cocoa, FL 32922-6492
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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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