Entity Owned Property summary
AI-generated overview
This exceptional 4,453-square-foot single-tenant retail space, located at 211 Caroline Street in Cape Canaveral, Florida (32920), presents a unique investment opportunity. Completely renovated in 2024, the property, built in 1966, boasts a prime location benefiting from the robust tourism and local economies. With Port Canaveral expecting 4.07 million cruise passengers in 2023 and Kennedy Space Center attracting over 1.4 million visitors annually, a steady stream of potential customers is guaranteed. The local market is equally strong, showcasing a median household income of $68,495 (a 17.3% increase from 2021-2022) and a low 3.2% retail vacancy rate. Cape Canaveral's retail sector thrives, generating $51,459,000 in annual sales, fueled by a population of 9,980 residents and millions of tourists contributing to a $4.6 billion tourism impact in Brevard County. The diverse visitor demographic, with 63% from out of state and 5% international, provides a broad customer base. This flexible space is ideal for retail or professional services, offering unparalleled access to a thriving market where tourism and local prosperity converge. The property includes 10 parking spaces and is situated on a single building on APN 24-37-14-00-00502.0-0000.00.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,880 SF
Lot
10.99 ac (478,724 SF)
Zoning code
R3
APN
24-37-14-00-00502.0-0000.00
UPID
US19-0104095
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$620k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$811k
Blend (final)
Blend
$785k
Owner & transaction history
since 2012
4 recorded transactions
Zoning & alternative use
R3 · Cape Canaveral, FL
Top alternative use upside
Commercial (general)
$685,000
+25.5%
Auto repair, garage
$600,000
+10.4%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 14 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$785k
Value range
$707k – $864k
±10% around blend
Estimated value / SF
$273 / SF
Confidence
High
14 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
100
$707k
blend $785k
$864k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,880 SF
Lot area
10.99 ac
Year built
1966
Stories
1
APN
24-37-14-00-00502.0-0000.00
Zoning
R3
Assessed value
$15,850,330
Annual tax
$178,632
3
Income approach: direct capitalization
Partial preview
Income approach indication
$645k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$695k
@ 6.5% CAP return
$645k
@ 7% CAP return
$595k
4
Sales comparison
Partial preview
Sales approach indication
$739k
Weighted, 14 comps · high confidence
Evidence
14 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.7 mi away · 2,648 SF
8.2 mi away · 3,693 SF
8.5 mi away · 3,200 SF
11.8 mi away · 2,350 SF
18.1 mi away · 3,042 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$785k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 529 sales
$189
+44%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $273/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+25%
vs current-use indication
Auto Repair, Garage
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 14 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
6.70%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.70%
9.0%
NOI (est.)
$1.11M *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$16.56M
Move the market yield to see immediate price impact.
Value / SF
$5,750
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.20%6.70%7.20%
$999k
$16.11M
$14.90M
$13.87M
$1.11M
$17.90M
$16.56M
$15.41M
$1.22M
$19.69M
$18.22M
$16.95M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
14 found
High confidence · county-verified
Closest comparable
$525k
6.6 mi · Feb 2026 · $246/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$178,632
Tax year 2023
Assessed value
$15,850,330
Assessed 2023
Previous assessed
$13,094,980
+21.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$1,512,000
Assessed improvement
$14,338,330
Land market value
$1,512,000
Improvement market value
$14,338,330
Total market value
$15,850,330
Applied tax rate
26.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
19
Stories
1
Units
1
Total area
2,880 SF
Lot
10.99 ac (478,724 SF)
Zoning code
R3
APN
24-37-14-00-00502.0-0000.00
UPID
US19-0104095
Jurisdiction
BREVARD
Zoning & alternative use
R3 · Cape Canaveral, FLZoning R3 · permitted uses
R3 · Cape Canaveral, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
19
Units
1
Lot
10.99 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R3
Jurisdiction
Cape Canaveral, FL
Recorded code
R3
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