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    3701 Atlantic Ave Cocoa Beach, FL 32931-3414
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    Property profile & analytics

    3701 Atlantic Ave, Cocoa Beach, FL 32931-3414

    View on Map
    • Hotels
    • 53,698 SF
    • 4.21 lot acres
    Off-Market
    Last Sale Aug 1, 2022
    $10,700,000
    Property ID
    US18-0358785
    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
    $10,225,000
    Show details
    Cap Rate Potential
    4.6%
    Hotels
    Location Intelligence

    Current Use by Public Records

    • Motel 6 Cocoa Beach, FL / Hotel & Motel

    Property Details for 3701 Atlantic Ave

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.21 lot acres
    Zone code
    CT1
    Property type
    Hotels
    APN
    24-37-35-CI-00011.0-0001.00
    APU
    243735CI000110000100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 4, 2023 — Hare Krishna Cocoa Beach LLC G6 Hospitality Property LLC Correction Deed · related —
    Aug 1, 2022 $10,700,000 Hare Krishna Cocoa Beach LLC G6 Hospitality Property LLC Special Warranty Deed $180.8M · Starwood Property Mortgage Sub 10 A
    Sep 14, 2021 — G6 Hospitality Property LLC — Deed · related $685M · Jpmorgan Chase Bank NA
    Oct 30, 2012 — G6 Hospitality Property LLC Motel 6 Operating LP Grant Deed · related —
    Sep 27, 2007 $5,006,100 Motel 6 Operating Nh Cocoa Bch Statutory Trust Grant Deed —
    Sep 27, 2007 $13,900 Nh Cocoa Beach Statutory Trust Nh6 Lr II Ltd Grant Deed —
    — — G6 Hospitality Property LLC — Loan Modification · related $1,026.3M · Jp Morgan Chase Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,575,000
      ML approach
      $9,725,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,080,000
      6.5%
      $7,460,000
      7%
      $6,925,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,425,000
      Market price range: $7.61M - $20.3M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $13,310,000
      Current use
      OFFICE BUILDING
      $12,735,000
      Change: -4% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $12,725,000
      Change: -4% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $11,195,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cocoa Beach
    County
    Brevard
    State
    Florida
    Longitude
    -80.6073
    Latitude
    28.3529
    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
    $123,716
    $2,638,080
    $4,603,790
    $7,241,870
    -
    $2,638,080
    $4,603,790
    $7,241,870

    Comparable in this City

    • Value Estimation
      $4,095,000
      33,608 SF

      1300 Atlantic Ave

      HOTEL
      1300 Atlantic Ave, Cocoa Beach, FL 32931-3221
      View Details
    • Value Estimation
      $3,115,000
      36,192 SF

      5575 Atlantic Ave

      HOTEL
      5575 Atlantic Ave, Cocoa Beach, FL 32931-3764
      View Details
    • Value Estimation
      $1,370,000
      11,212 SF

      3550 Atlantic Ave

      HOTEL
      3550 Atlantic Ave, Cocoa Beach, FL 32931-3411
      View Details
    • Value Estimation
      $2,540,000
      20,809 SF

      4300 Ocean Bch Blvd

      HOTEL
      4300 Ocean Bch Blvd, Cocoa Beach, FL 32931-3552
      View Details
    • Value Estimation
      $3,720,000
      46,042 SF

      5500 Ocean Bch Blvd

      HOTEL
      5500 Ocean Bch Blvd, Cocoa Beach, FL 32931
      View Details
    • Value Estimation
      $22,725,000
      195,045 SF

      1550 Atlantic Ave

      HOTEL-RESORT
      1550 Atlantic Ave, Cocoa Beach, FL 32931-3230
      View Details

    Similar Nearby for Sale

    • $2,800,000

      Cocoa Beach Commercial Property

      Oceanfront Warehouse & Offices, High Visibility
      1900 Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing

      Cape Canaveral Vacant Land Opportunity

      1.85 acres of vacant land near Port Canaveral.
      000 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing
      8,177 SF

      Cocoa Beach Boutique Rental Complex

      Turnkey, fully renovated 13-unit short-term rental complex near Cocoa Beach.
      637 S Orlando Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing

      West-Facing Office Suite For Sale

      Office suite with impact windows, large parking, and included electric.
      1980 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing
      34,878 SF

      Luxury Condominium Development Opportunity

      New 14-unit ocean-view condominium development in Cocoa Beach, Florida.
      327 Wilson Ave, Cocoa Beach, FL 32931
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Publix-Anchored Retail Space Available

      Retail spaces available in Publix-anchored Cornerstone Shopping Center.
      5645 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing
      950 SF

      Cocoa Beach Office Suites Available

      Office and medical suites for lease in Cocoa Beach.
      503 N Orlando Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing

      Furnished Office in Cocoa Beach

      Move-in ready, fully serviced private office within a coworking space.
      1980 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing

      Retail Space in Cocoa Beach

      Single tenant retail space available for rent in Cocoa Beach.
      1727 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • $12 SF/Yr
      297 SF

      Retail Space in Cocoa Beach

      Retail space available for lease in Brevard County.
      1980 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing

      Cocoa Beach Coworking Space

      Centrally located coworking space in Cocoa Beach, Florida.
      1980 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
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    Cocoa Beach, FL 32931-3414
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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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