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    Property profile & analytics

    161 Varr Ave Cocoa, FL 32922-8642

    • Truck terminals
    • 4,766 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Jul 12, 2022
    Value Estimations
    $220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5957971
    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

    • Heavy Metal Gutters / Gutter Cleaning Service
    • All Custom Aluminum and Gutter King / Gutter Cleaning Service / Drainage Service

    Property Details for 161 Varr Ave

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.24 lot acres
    Property size
    4,766 SF
    Zone code
    CW
    Property type
    Truck terminals
    APN
    24-36-32-03-00000.0-0010.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $211,000
      Market price range: $146k - $533k
      AI Estimate
      $186,000
      Market price range: $159k - $456k

    • Alternative Use

      Use
      Estimation
      TRUCK TERMINAL (MOTOR FREIGHT)
      $325,000
      Current use
      COMMERCIAL (GENERAL)
      $325,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cocoa
    County
    Brevard
    State
    Florida
    Longitude
    -80.7446
    Latitude
    28.3573
    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
    $3,472
    $12,780
    $123,530
    $136,310
    -
    $12,780
    $123,530
    $136,310

    Comparable in this City

    • Value Estimation
      $310,000
      5,302 SF

      214 Thompson Ave

      TRUCK TERMINAL (MOTOR FREIGHT) • 5,302 SF
      214 Thompson Ave, Cocoa, FL 32922-6204
      View Details
    • Value Estimation
      $4,150,000
      10,080 SF

      641 Clearlake Rd

      TRUCK TERMINAL (MOTOR FREIGHT) • 10,080 SF
      641 Clearlake Rd, Cocoa, FL 32922-6309
      View Details
    • Value Estimation
      $340,000
      6,160 SF

      1220 Clearlake Rd

      TRUCK TERMINAL (MOTOR FREIGHT) • 6,160 SF
      1220 Clearlake Rd, Cocoa, FL 32922-6404
      View Details
    • Value Estimation
      $635,000
      9,495 SF

      750 Clearlake Rd

      TRUCK TERMINAL (MOTOR FREIGHT) • 9,495 SF
      750 Clearlake Rd, Cocoa, FL 32922-5209
      View Details
    • Value Estimation
      $350,000
      2,210 SF

      2315 Cocoa Blvd

      TRUCK TERMINAL (MOTOR FREIGHT) • 2,210 SF
      2315 Cocoa Blvd, Cocoa, FL 32922-7063
      View Details
    • Value Estimation
      $50,000
      4,972 SF

      420 Willard St

      TRUCK TERMINAL (MOTOR FREIGHT) • 4,972 SF
      420 Willard St, Cocoa, FL 32922-7683
      View Details

    Similar Nearby for Sale

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      Cocoa Warehouse - $344,000

      Prime Cocoa location, 1386 sq ft warehouse.
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      Cocoa Warehouse: Prime Location

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      3.17-acre prime industrial development site.
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    • $2,065,000
      10,570 SF

      Cocoa Warehouse Investment Opportunity

      NNN leased warehouse with long-term tenant and income potential.
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      Industrial Property in Cocoa, Florida

      Triple frontage industrial property with multiple access points in Cocoa.
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      Cocoa Retail/Warehouse Opportunity

      4,000 SF building with retail and warehouse space.
      308 Willard St, Cocoa, FL 32922
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    Similar Nearby for Lease

    • $12 SF/Yr
      34,855 SF

      Cocoa Flex Space Available

      Warehouse Units, Flexible Leases
      1520 Peachtree St, Cocoa, FL 32922
      View Details
    • $9 SF/Yr
      14,618 SF

      University Row: Cocoa Commercial Space

      Multi-tenant office, retail, & industrial space in Cocoa, FL.
      1314 Clearlake Rd, Cocoa, FL 32922
      View Details
    • $15 SF/Yr
      3,200 SF

      Clearlake Road Warehouse Space

      Newly renovated warehouse, 2 spaces available
      411 Clearlake Rd, Cocoa, FL 32922
      View Details
    • $12 SF/Yr
      21,290 SF

      Cocoa Warehouse - 4 Units Available

      Industrial warehouse space, multiple units, prime location.
      798 Clearlake Rd, Cocoa, FL 32922
      View Details
    • Contact for pricing
      12,769 SF

      Warehouse Opportunity on Cocoa Blvd

      Warehouse space with loading dock and high traffic location.
      951 N Cocoa Blvd, Cocoa, FL 32922
      View Details
    • $12 SF/Yr
      1,000 SF

      Cocoa Warehouse Unit with Yard

      Storage warehouse units with yard space available for lease.
      310 Clearlake Rd, Cocoa, FL 32922
      View Details
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    161 Varr Ave
    Cocoa, FL 32922-8642
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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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