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

    650 Dixon Blvd Cocoa, FL 32922-7563

    • Apartment buildings
    • 15,208 SF
    • 1.41 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2021
    $4,892,500
    Value Estimations
    $5,160,000
    Show details
    Cap Rate Potential
    2.9%
    Apartment buildings
    Location Intelligence
    Property ID
    US18-3295014
    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

    • Riverside Village Apartments / Apartment Building

    Property Details for 650 Dixon Blvd

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.41 lot acres
    Property size
    15,208 SF
    Zone code
    RU215
    Property type
    Apartment buildings
    APN
    24-36-21-BM-00000.0-0004.01
    APU
    243621BM000000000401

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,280,000
      ML approach
      $5,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,474,000
      Market price range: $1.71M - $14.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Cocoa
    County
    Brevard
    State
    Florida
    Longitude
    -80.7376
    Latitude
    28.3804
    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
    $80,278
    $416,000
    $3,157,580
    $3,573,580
    -
    $416,000
    $3,157,580
    $3,573,580

    Comparable in this City

    • Value Estimation
      $4,740,000
      52,898 SF

      1546 Clearlake Rd, Unit 202

      APARTMENT HOUSE (5+ UNITS) • 52,898 SF
      1546 Clearlake Rd, Cocoa, FL 32922-6604
      View Details
    • Value Estimation
      $3,200,000
      5,882 SF

      1335 Pt Dr, Unit A

      APARTMENT HOUSE (5+ UNITS) • 5,882 SF
      1335 Pt Dr, Cocoa, FL 32922-6483
      View Details
    • Value Estimation
      $520,000
      3,436 SF

      1080 Fiske Blvd, Unit B3

      APARTMENT HOUSE (5+ UNITS) • 3,436 SF
      1080 Fiske Blvd, Cocoa, FL 32922-5818
      View Details
    • Value Estimation
      $1,910,000
      14,328 SF

      699 Hughlett Ave

      APARTMENT HOUSE (5+ UNITS) • 14,328 SF
      699 Hughlett Ave, Cocoa, FL 32922-7602
      View Details
    • Value Estimation
      $4,690,000
      53,509 SF

      1420 Dixon Blvd

      APARTMENT HOUSE (5+ UNITS) • 53,509 SF
      1420 Dixon Blvd, Cocoa, FL 32922-6499
      View Details
    • Value Estimation by Request
      1,512 SF

      150 Peachtree St

      APARTMENT HOUSE (5+ UNITS) • 1,512 SF
      150 Peachtree St, Cocoa, FL 32922-7768
      View Details

    Similar Nearby for Sale

    • $1,700,000

      Prime Cocoa Apartment Building

      16-unit complex, near Cocoa Beach
      150 Peachtree St, Cocoa, FL 32922
      View Details
    • $1,425,000
      5,450 SF

      Cocoa Multifamily Apartment Complex

      12-unit apartment complex near Cocoa Village and Indian River.
      150 Peachtree St, Cocoa, FL 32922
      View Details
    • $199,000

      Prime Cocoa Commercial Land

      Half-acre lot, high visibility, multi-use potential.
      0 Fiske Blvd, Cocoa, FL 32922
      View Details
    • $775,000
      2,358 SF

      Cocoa Income Property For Sale

      Four-unit income property near Cocoa Village, ideal for investors.
      222 Rosa L Jones Dr, Cocoa, FL 32922
      View Details
    • $289,000
      1,644 SF

      Cocoa Duplex Below Appraised Value

      Duplex in Cocoa, FL, priced below appraised value.
      1417 Wilson Rd, Cocoa, FL 32922
      View Details
    • $850,000

      Cocoa Riverfront Commercial Land

      Prime .86-acre lot, stunning river views
      1525 Indian River Dr, Cocoa, FL 32922
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      8,800 SF

      Dixon Plaza: Cocoa Retail Space

      Prime Cocoa retail center, 8,800 sq ft.
      904 Dixon Blvd, Cocoa, FL 32922
      View Details
    • Contact for pricing
      42,000 SF

      Byrd Plaza Retail Center

      Cocoa, FL Strip Mall - High Traffic
      801 Dixon Blvd, Cocoa, FL 32922
      View Details
    • $4,950,000
      2,097 SF

      Cocoa Village Office Space

      Professional office space in Cocoa Village near local amenities.
      505 Brevard Ave, Cocoa, FL 32922
      View Details
    • Contact for pricing

      Commercial Land for Lease

      1.40 Acres on US-1, Cocoa, FL
      301 S Cocoa Blvd, Cocoa, FL 32922
      View Details
    • $12 SF/Yr
      34,855 SF

      Cocoa Flex Space Available

      Warehouse Units, Flexible Leases
      1520 Peachtree St, Cocoa, FL 32922
      View Details
    • $13 SF/Yr
      17,820 SF

      Oak Park Plaza: Cocoa Office Space

      Cocoa Office Suites, Prime Location
      1641 Cocoa Blvd, Cocoa, FL 32922
      View Details
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    650 Dixon Blvd
    Cocoa, FL 32922-7563
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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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