Office Building for
For Sale
$1,000,000
1029 Sarno Road, Melbourne, FL 32935
Office building for sale in Melbourne, FL, with 2,700 total square feet.
Property Size2,700 SF
Price / SF$370.37
Days on Market191
Property Features for 1029 Sarno Road
General Information
Standard status
Active
Size
2,700 SF
Taxes and HOA fees
Annual Taxes
$7,646
Amenities
Storage, Fenced, Kitchen Facilities, Laundry, Lobby, Medical, Private Restroom, Rear Access, Reception Area, Separate Office Area
Central Air, Electric
Central, Electric
Fenced, Wrought Iron
Parking Lot
Building Details
Building Size
2,700 SF
Year Built
1969
Listing Agency:
Real Broker, LLC
Listed By:
Shane Burgman
(321) 499-2969
Source:
Evrealestate
Added: Feb 28
Changed: Aug 25
Last Checked: Sep 7 at 5:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker, LLC
Investment Insights
Based on property information with market context.
This for-sale office building includes a total of 2,700 square feet, and is presented as Office Units/Office Spaces under the broader commercial real estate category. The offering is listed at $1,000,000.
The property is located at 1029 Sarno Road in Melbourne, Florida (Brevard County).
No additional details are provided regarding unit mix, condition, or on-site features beyond the stated total size and office use.
The property is located at 1029 Sarno Road in Melbourne, Florida (Brevard County).
No additional details are provided regarding unit mix, condition, or on-site features beyond the stated total size and office use.
Key Highlights
- Office building for sale in Melbourne, FL with 2,700 total SF
- Built in 1969
- Central air conditioning with electric heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,742
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,840
$734.8K
Cap Rate 7%
$524,886
$524.9K
Cap Rate 9%
$408,244
$408.2K
Market Conditions
NOI Build-Up for 2,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.3K $21.60/SF
− Vacancy
−$9.3K −$3.46/SF
EGI
$49.0K $18.14/SF
− OpEx
−$12.2K −$4.54/SF
NOI
$36.7K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,840
Cap Rate 7%
$524,886
Cap Rate 9%
$408,244
Alternative Uses
Best Use
Office B
$524.9K
$459.3K – $612.4K
NOI $36,742 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$712.3K
$623.3K – $831.1K
NOI $49,864 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office building for sale in Melbourne, FL, with 2,700 total square feet.
Where is this office units located?
The property is located at 1029 Sarno Road Melbourne, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Office building for sale in Melbourne, FL with 2,700 total SF; Built in 1969; Central air conditioning with electric heating
