Entity Owned 
For Lease
1 / 29
$5,200/Mo
8801 Astronaut Blvd,Unit 104, Cape Canaveral, FL 32920
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Property summary
AI-generated overview
Waves District Phase 2 is a street-level mixed-use retail and commercial component within a fully entitled, multi-phase development at the corner of Astronaut Blvd and West Central Blvd in Cape Canaveral. The phase provides 11 inline retail/commercial units under residential units, with a combined gross leasable area of 17,302 square feet; individual units range from 1,130 to 2,815 square feet and are designed to be combinable. The overall development includes additional phased components, including retail space in Phase 1 and nightly vacation rental units in later phases. Phase 2 is configured for neighborhood and visitor-oriented uses, with suitable categories including food and beverage, retail, health and beauty, fitness, and service concepts. On-site amenities include a resort-style pool and ample parking, and the phase has existing operating tenants such as Zarrella's Italian and Wood Fired Pizza and Surf Style retail.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,761 SF
Lot
5 ac (217,800 SF)
Zoning code
C1
APN
24-37-15-00-00817.0-0000.00
UPID
US19-0410057
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.44M
Comparable Approach
Comparable
$1.86M
Blend (final)
Blend
$2.46M
Owner & transaction history
since 2004
3 recorded transactions
Zoning & alternative use
C1 · Cape Canaveral, FL
Top alternative use upside
Commercial (general)
$4.0M
+72.1%
Auto repair, garage
$3.5M
+51.4%
Office building
$3.2M
+37.2%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.46M
Value range
$2.21M – $2.71M
±10% around blend
Estimated value / SF
$147 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$2.21M
blend $2.46M
$2.71M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
16,761 SF
Lot area
5 ac
Year built
2013
Stories
1
APN
24-37-15-00-00817.0-0000.00
Zoning
C1
Assessed value
$4,322,720
Annual tax
$60,296
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.44M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.72M
@ 6.5% CAP return
$3.44M
@ 7% CAP return
$3.19M
4
Sales comparison
Partial preview
Sales approach indication
$1.86M
Range $596k – $1.86M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.46M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 148 sales
$138
+7%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $147/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+72%
vs current-use indication
Auto Repair, Garage
Office Building
Retail Stores
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.32M
Move the market yield to see immediate price impact.
Value / SF
$258
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$272k
$5.45M
$3.89M
$3.03M
$303k
$6.05M
$4.32M
$3.36M
$333k
$6.66M
$4.75M
$3.70M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$60,296
Tax year 2023
Assessed value
$4,322,720
Assessed 2023
Previous assessed
$4,129,260
+4.7% YoY
Effective rate
1.39%
On assessed value
Assessed land
$3,049,200
Assessed improvement
$1,273,520
Land market value
$3,049,200
Improvement market value
$1,273,520
Total market value
$4,322,720
Applied tax rate
26.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
2
Total area
16,761 SF
Lot
5 ac (217,800 SF)
Zoning code
C1
APN
24-37-15-00-00817.0-0000.00
UPID
US19-0410057
Jurisdiction
BREVARD
Zoning & alternative use
C1 · Cape Canaveral, FLZoning C1 · permitted uses
C1 · Cape Canaveral, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Lot
5 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C1
Jurisdiction
Cape Canaveral, FL
Recorded code
C1
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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