Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    390 Challenger Rd Cape Canaveral, FL 32920
    Back to Search
    Property profile & analytics

    390 Challenger Rd Cape Canaveral, FL 32920

    View on Map
    • Medical Office Space
    • 9,738 SF
    • 0.90 lot acres
    For Lease
    $1,225,000
    View Listing →
    Healthcare Facility Sub Lease Opportunity For Lease
    $1,225,000
    9,621 SF

    Healthcare Facility Sub Lease Opportunity

    Aesthetically pleasing +/- 9621 SF healthcare facility for sub-lease.

    390 Challenger Rd, Cape Canaveral, FL 32920
    View Listing
    Property ID
    US18-7081364
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 390 Challenger Rd

    Year built
    2017
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.90 lot acres
    Property size
    9,738 SF
    Zone code
    M1
    Property type
    Medical Office Space
    Property subtype
    Medical space
    APN
    24-37-15-00-00021.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $901,000
      Market price range: $527k - $1.13M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,510,000
      Current use
      AUTO REPAIR, GARAGE
      $2,030,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $1,840,000
      Change: +22% Conversion: Easy
      RETAIL STORES
      $1,565,000
      Change: +4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,340,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Canaveral
    County
    Brevard
    State
    Florida
    Longitude
    -80.6196
    Latitude
    28.4058
    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
    $15,824
    $118,010
    $1,356,300
    $1,474,310
    -
    $118,010
    $1,356,300
    $1,474,310

    Comparable in this City

    • Value Estimation by Request
      3,264 SF

      8400 Astronaut Blvd, Unit OF

      DENTAL BUILDING • 3,264 SF
      8400 Astronaut Blvd, Cape Canaveral, FL 32920-4302
      View Details
    • Value Estimation
      $1,230,000
      4,456 SF

      7620 Atlantic Ave

      DENTAL BUILDING • 4,456 SF
      7620 Atlantic Ave, Cape Canaveral, FL 32920-3704
      View Details
    • Value Estimation by Request
      9,621 SF

      390 Challenger Rd

      Medical Office Space • 9,621 SF
      390 Challenger Rd, Cape Canaveral, FL 32920
      View Details
    • Value Estimation by Request
      470 SF

      102 Columbia Dr Ste, Unit 101

      CONDOMINIUM OFFICES • 470 SF
      102 Columbia Dr Ste, Cape Canaveral, FL 32920-5107
      View Details
    • Value Estimation by Request
      470 SF

      102 Columbia Dr Ste, Unit 110

      CONDOMINIUM OFFICES • 470 SF
      102 Columbia Dr Ste, Cape Canaveral, FL 32920-5107
      View Details
    • Value Estimation by Request
      470 SF

      102 Columbia Dr Ste, Unit 210

      CONDOMINIUM OFFICES • 470 SF
      102 Columbia Dr Ste, Cape Canaveral, FL 32920-5108
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,277 SF

      Cape Canaveral Office Building Opportunity

      12,277 SF office building in a high-traffic Cape Canaveral corridor.
      7980 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing
      42,980 SF

      Cape Canaveral Manufacturing and Office

      42,980 SF manufacturing and office space on 1.84 acres.
      7077 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing
      13,064 SF

      Cape Canaveral Flex Space Opportunity

      Flex space with office, warehouse, and fenced yard.
      190 Center St, Cape Canaveral, FL 32920
      View Details
    • $110,000

      Office Space Near Space Force

      Two offices with bathroom near Astronaut Boulevard.
      102 Columbia Dr, Cape Canaveral, FL 32920
      View Details
    • $395,000
      1,008 SF

      Cape Canaveral Beachside Duplex Opportunity

      Duplex near the ocean, ideal for investors or owner-occupiers.
      7554 Magnolia Ave, Cape Canaveral, FL 32920
      View Details
    • $669,500
      2,240 SF

      Cape Canaveral Duplex Near Beach

      Spacious, well-maintained duplex near the beach in Cape Canaveral.
      212 Monroe Ave, Cape Canaveral, FL 32920
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing

      Cape Canaveral Office Space Available

      Unfurnished office space in Cape Canaveral, move-in ready.
      102 Columbia Dr, Cape Canaveral, FL 32920
      View Details
    • $15 SF/Yr
      5,000 SF

      Retail/Office Space on Atlantic Avenue

      Flexible retail or office spaces available for lease.
      8075-8085 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing
      650 SF

      Second Floor Office Space Available

      620 SF second-floor office space for rent, utilities included.
      405 Atlantis Rd, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing
      2,120 SF

      Exploration Tower Versatile Commercial Space

      Modern design, versatile space, ideal for various businesses.
      670 Dave Nisbet Dr, Port Canaveral, FL 32920
      View Details
    • Contact for pricing

      Move-In Ready Office Spaces

      Well-maintained office spaces available for rent near Port Canaveral.
      7001 N Atlantic Ave, Pt Canaveral, FL 32920
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    390 Challenger Rd
    Cape Canaveral, FL 32920
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    390 Challenger Rd, Cape Canaveral, FL, 32920
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!