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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5 Main St Titusville, FL 32796-3524

    • Office buildings
    • 5,940 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    May 16, 2023
    Value Estimations
    $1,295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0437140
    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

    • Noble & Co. Real Estate Professionals / Real Estate Agency
    • Rocket City Entertainment / Event Venue
    • Dina Maurer - REALTOR® - Landshark Realty / Real Estate Agent

    Property Details for 5 Main St

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.34 lot acres
    Property size
    5,940 SF
    Zone code
    CBD
    Property type
    Office buildings
    APN
    22-35-03-03-0000D.0-0000.01
    APU
    223503030000D0000001

    Description

    This exceptional 2,200 square foot office space is located at 5 Main Street in Titusville, Florida's vibrant downtown CRA District. Situated in a historic building on the Astronaut Trail (also known as The Old Post Office), this single-tenant property offers stunning waterfront views of rocket launches and sunrises over the Indian River. The interior features three private offices, over 1,700 square feet of open space, two full bathrooms, ample storage, and a fully equipped kitchen. On-site reserved parking is included – a rare amenity in this desirable location. The building is zoned for Downtown Mixed Use within Brevard County (32796). The total building size is 5,924 square feet. Enhance your business with the option to lease an additional 3,600 square feet of outdoor space, complete with a tiki bar, ideal for events and gatherings. The property is easily accessible, located on the corner of Main Street and Indian River Avenue, south of Garden Street on Indian River Avenue.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,435,000
      6.5%
      $1,325,000
      7%
      $1,230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,253,000
      Market price range: $486k - $1.44M
      AI Estimate
      $1,306,000
      Market price range: $470k - $1.34M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $850,000
      Current use
      RESTAURANT
      $2,020,000
      Change: +138% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,410,000
      Change: +66% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,240,000
      Change: +46% Conversion: Difficult
      MEDICAL BUILDING
      $920,000
      Change: +9% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $820,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Titusville
    County
    Brevard
    State
    Florida
    Longitude
    -80.8061
    Latitude
    28.6124
    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
    $12,608
    $49,500
    $605,160
    $654,660
    -
    $49,500
    $605,160
    $654,660

    Comparable in this City

    • Value Estimation by Request
      1,484 SF

      603 Washington Ave

      OFFICE BUILDING • 1,484 SF
      603 Washington Ave, Titusville, FL 32796-7653
      View Details
    • Value Estimation
      $875,000
      3,804 SF

      1 A Max Brewer Memorial Pkwy

      OFFICE BUILDING • 3,804 SF
      1 A Max Brewer Memorial Pkwy, Titusville, FL 32796-2885
      View Details
    • Value Estimation
      $915,000
      3,964 SF

      700 Dixie Ave

      OFFICE BUILDING • 3,964 SF
      700 Dixie Ave, Titusville, FL 32796-2017
      View Details
    • Value Estimation
      $550,000
      2,608 SF

      2220 Gdn St

      OFFICE BUILDING • 2,608 SF
      2220 Gdn St, Titusville, FL 32796-2544
      View Details
    • Value Estimation
      $8,800,000
      24,586 SF

      490 Washington Ave

      PROFESSIONAL BUILDING • 24,586 SF
      490 Washington Ave, Titusville, FL 32796-2871
      View Details
    • Value Estimation by Request
      2,411 SF

      309 Lagrange Ave

      OFFICE BUILDING • 2,411 SF
      309 Lagrange Ave, Titusville, FL 32796-2742
      View Details

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    • $3,200,000
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      Titusville Medical Office Building

      Turnkey medical office, 4,840 SF, 28 parking spaces
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    • $3,290,000
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    Similar Nearby for Lease

    • $12 SF/Yr
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      Titusville Waterfront Office Space

      Prime riverfront office, stunning views.
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    • $12 SF/Yr
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      900 sq ft office, single tenant.
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    • $20 SF/Yr
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      300-310 S Washington Avenue

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    • $15 SF/Yr
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      Move-in Ready Medical Office Suites

      Strategically located medical office suites available for lease.
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    • $125 SF/Yr

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    • New
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      Titusville Office Space For Rent

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      View Details
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    5 Main St
    Titusville, FL 32796-3524
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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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