211 Caroline StCape Canaveral, FL 32920

Property Details for 211 Caroline St

Year built

1966

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

10.99 AC

Property size (Sq ft)

2,880 SF

Zone code

R3

Property type

Office properties

Property subtype

Office buildings

APN

24-37-14-00-00502.0-0000.00

APU

9223372036854775807

Description

This exceptional 4,453-square-foot single-tenant retail space, located at 211 Caroline Street in Cape Canaveral, Florida (32920), presents a unique investment opportunity. Completely renovated in 2024, the property, built in 1966, boasts a prime location benefiting from the robust tourism and local economies. With Port Canaveral expecting 4.07 million cruise passengers in 2023 and Kennedy Space Center attracting over 1.4 million visitors annually, a steady stream of potential customers is guaranteed. The local market is equally strong, showcasing a median household income of $68,495 (a 17.3% increase from 2021-2022) and a low 3.2% retail vacancy rate. Cape Canaveral's retail sector thrives, generating $51,459,000 in annual sales, fueled by a population of 9,980 residents and millions of tourists contributing to a $4.6 billion tourism impact in Brevard County. The diverse visitor demographic, with 63% from out of state and 5% international, provides a broad customer base. This flexible space is ideal for retail or professional services, offering unparalleled access to a thriving market where tourism and local prosperity converge. The property includes 10 parking spaces and is situated on a single building on APN 24-37-14-00-00502.0-0000.00.

• CAP approach

  CAP return

  Valuation

  6%

  $705,740

  6.5%

  $651,452

  7%

  $604,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $485,860

  Geo Method

  $452,246

• Alternative Use

  Use

  Valuation

  Residential

  $807,801

  Hospitality

  $739,941

  Educational

  $615,623

  Medical

  $636,795

  Retail

  $957,635

Location Insight

City

Cape Canaveral

County

Brevard

State

Florida

Latitude

28.392

Longitude

-80.6021

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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