282 Clearlake Rd
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282 Clearlake Rd
9,064 SF 87% Leased Flex Building Cocoa, FL 32922 $1,350,000 ($149/SF) 8.93% Cap Rate
Investment Highlights
- 9,064 SF Commercial Plaza with short-term leases in place.
- Value-Add Retail/Office/Flex Plaza with below market rents.
- Price per square foot is below replacement cost.
- Plaza is currently 87% leased with opportunity to occupy 50% of the building.
- Opportunity to build an additional 9,000 SF on property.
- Located at the NE corner of Clearlake Road and Highway 520 in Cocoa FL.
Executive Summary
The 280 Building is located at 280-294 Clearlake Road in unincorporated Cocoa, Florida. The property is a 9,064 square foot commercial property that consists of retail, office, and flex spaces which sits on 1.11 acres of land. The property is currently configured with 6 bays, one consisting of 3,399 square feet with 5 drive-ins (2 on the north side of the building and 3 on the east side or back of the building), three spaces consisting of 1,133 square feet with one drive-in on the east side of the building, and two spaces consisting of 1,133 square feet with back exit doors and no drive-ins.
The property is 87% leased (one vacancy of 1,133 square feet) at below market rents with leases either month to month or expiring in 2026. The property has plenty of parking, monument signage along Clearlake Road, below market rents, and has been recently renovated in 2022. In addition, there is upwards of 40% of the property that is available and approved for additional building(s) to be constructed.
Priced at below replacement cost, this property is an amazing opportunity for an investor to purchase the building and raise rents as leases expire as well as an owner user to not only occupy day 1, but also to expand footprint as other tenant’s leases expire in the future. Please call 954-655-8159 or email ryanb@fenixrealtygrp.com to discuss this investment further.
The property is 87% leased (one vacancy of 1,133 square feet) at below market rents with leases either month to month or expiring in 2026. The property has plenty of parking, monument signage along Clearlake Road, below market rents, and has been recently renovated in 2022. In addition, there is upwards of 40% of the property that is available and approved for additional building(s) to be constructed.
Priced at below replacement cost, this property is an amazing opportunity for an investor to purchase the building and raise rents as leases expire as well as an owner user to not only occupy day 1, but also to expand footprint as other tenant’s leases expire in the future. Please call 954-655-8159 or email ryanb@fenixrealtygrp.com to discuss this investment further.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$128,896
|
$13.52
|
| Other Income |
$48,832
|
$5.12
|
| Vacancy Loss |
$6,345
|
$0.67
|
| Effective Gross Income |
$171,383
|
$17.98
|
| Taxes |
$18,500
|
$1.94
|
| Operating Expenses |
$25,332
|
$2.66
|
| Total Expenses |
$43,832
|
$4.60
|
| Net Operating Income |
$127,551
|
$13.38
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $128,896 |
| Annual Per SF | $13.52 |
| Other Income | |
|---|---|
| Annual | $48,832 |
| Annual Per SF | $5.12 |
| Vacancy Loss | |
|---|---|
| Annual | $6,345 |
| Annual Per SF | $0.67 |
| Effective Gross Income | |
|---|---|
| Annual | $171,383 |
| Annual Per SF | $17.98 |
| Taxes | |
|---|---|
| Annual | $18,500 |
| Annual Per SF | $1.94 |
| Operating Expenses | |
|---|---|
| Annual | $25,332 |
| Annual Per SF | $2.66 |
| Total Expenses | |
|---|---|
| Annual | $43,832 |
| Annual Per SF | $4.60 |
| Net Operating Income | |
|---|---|
| Annual | $127,551 |
| Annual Per SF | $13.38 |
Property Facts
Amenities
- Fenced Lot
- Property Manager on Site
- Signage
- Storage Space
- Monument Signage
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 24-36-32-03-00000.0-0051.00 | Total Assessment | $420,500 (2023) |
| Land Assessment | $0 (2023) | Annual Taxes | $18,500 ($2.04/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
24-36-32-03-00000.0-0051.00
Land Assessment
$0 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$420,500 (2023)
Annual Taxes
$18,500 ($2.04/SF)
Tax Year
2025
zoning
| Zoning Code | BU-2 (BU-2 zoning in Cocoa, Florida is a retail, warehousing, and wholesale commercial zoning classification.) |
| BU-2 (BU-2 zoning in Cocoa, Florida is a retail, warehousing, and wholesale commercial zoning classification.) |
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282 Clearlake Rd
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