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    211 Caroline St Cape Canaveral, FL 32920-2705
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    Property profile & analytics

    211 Caroline St Cape Canaveral, FL 32920-2705

    View on Map
    • Office buildings
    • 2,880 SF
    • 10.99 lot acres
    Off-Market
    Property ID
    US19-0104095
    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.
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    6.7%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 211 Caroline St

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    10.99 lot acres
    Property size
    2,880 SF
    Zone code
    R3
    Property type
    Office buildings
    APN
    24-37-14-00-00502.0-0000.00
    APU
    9223372036854775807

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $620,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $695,000
      6.5%
      $645,000
      7%
      $595,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $811,000
      Market price range: $371k - $811k
      AI Estimate
      $1,070,000
      Market price range: $133k - $1.07M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $545,000
      Current use
      COMMERCIAL (GENERAL)
      $685,000
      Change: +25% Conversion: Easy
      AUTO REPAIR, GARAGE
      $600,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cape Canaveral
    County
    Brevard
    State
    Florida
    Longitude
    -80.6021
    Latitude
    28.392
    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
    $178,632
    $1,512,000
    $14,338,330
    $15,850,330
    -
    $1,512,000
    $14,338,330
    $15,850,330

    Comparable in this City

    • Value Estimation
      $12,010,000
      69,068 SF

      405 Challenger Rd

      OFFICE BUILDING (MULTI-STORY) • 69,068 SF
      405 Challenger Rd, Cape Canaveral, FL 32920
      View Details
    • Value Estimation
      $1,520,000
      6,178 SF

      555 Hwy 401

      OFFICE BUILDING (MULTI-STORY) • 6,178 SF
      555 Hwy 401, Cape Canaveral, FL 32920-4438
      View Details
    • Value Estimation by Request
      1,144 SF

      8954 Atlantic Ave

      OFFICE BUILDING • 1,144 SF
      8954 Atlantic Ave, Cape Canaveral, FL 32920-3449
      View Details
    • Value Estimation
      $690,000
      2,780 SF

      7100 Atlantic Ave

      OFFICE BUILDING • 2,780 SF
      7100 Atlantic Ave, Cape Canaveral, FL 32920-3736
      View Details
    • Value Estimation
      $825,000
      6,060 SF

      210 Ctr St

      OFFICE BUILDING • 6,060 SF
      210 Ctr St, Cape Canaveral, FL 32920-3730
      View Details
    • Value Estimation
      $6,130,000
      20,975 SF

      7222 Marbella Ct

      OFFICE BUILDING (MULTI-STORY) • 20,975 SF
      7222 Marbella Ct, Cape Canaveral, FL 32920
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      1.85 Acres

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    Similar Nearby for Lease

    • $16 SF/Yr

      Commercial Office Building For Rent

      Two-story office building on Hwy A1A, near Port Canaveral.
      7011 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing

      Exploration Tower Commercial Space

      Versatile commercial space in a dynamic, sought-after location.
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      View Details
    • $795 /Mo

      Office Space on Astronaut Boulevard

      Office space for rent near major employers and thoroughfares.
      102 Columbia Dr, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing

      Healthcare Facility Sub Lease Opportunity

      Aesthetically pleasing +/- 9621 SF healthcare facility for sub-lease.
      390 Challenger Rd, Cape Canaveral, FL 32920
      View Details
    • $16 SF/Yr

      Move-In Ready Office Spaces

      Well-maintained office spaces available for rent near Port Canaveral.
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      View Details
    • Contact for pricing
      9,621 SF

      Healthcare Facility Sub-Lease Opportunity

      Aesthetically pleasing healthcare facility available for sub-lease.
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      View Details
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    Cape Canaveral, FL 32920-2705
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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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