Freestanding Medical Office
For Sale
Contact for pricing
1099 Florida Ave, Rockledge, FL 32955
Functional medical space in Rockledge, ready for occupancy.
Property Size6,826 SF
Price / SF$146.50
Days on Market171
Property Features for 1099 Florida Ave
General Information
Standard status
Active
Size
6,826 SF
Property subtype
Office
Zoning
C2
Building Details
Year Built
1988
Listing Agency:
Lightle Beckner Robison Inc
(321) 722-0707
Listed By:
Hayden Brouillette · License #SL3587660
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 11 at 7:53PM
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 Lightle Beckner Robison Inc
Investment Insights
Based on property information with market context.
This freestanding medical office building, located on Florida Avenue in Rockledge, Florida, offers 6,826 square feet of functional medical space. The property is strategically positioned in a well-established area of Brevard County, providing convenient access to US-1 and Interstate 95. This accessibility benefits both patients and staff commuting from nearby areas such as Melbourne and Cocoa. The building features ample on-site parking and includes up to eight plumbed exam rooms. The property's layout makes it suitable for various medical or professional users. Its proximity to residential neighborhoods, shopping centers, and other medical offices contributes to a steady flow of potential clients from nearby residents and businesses. Given the limited availability of larger freestanding medical office buildings in the market, this property presents a chance to secure a standalone facility that is largely turnkey, requiring only minor upfront improvements. The location is situated within a growing area of Brevard County, offering a strong setting for medical or professional practices.
Key Highlights
- Freestanding 6,826 SF medical office building, ideal for medical or professional users.
- Up to eight plumbed exam rooms, largely turnkey, requiring only minor improvements.
- Ample on‑site parking surrounding the property.
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
$85,909
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
8.59%
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%
$1,718,180
$1.7M
Cap Rate 7%
$1,227,271
$1.2M
Cap Rate 9%
$954,544
$954.5K
Market Conditions
NOI Build-Up for 6,826 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
$155.6K $22.80/SF
− Vacancy
−$12.5K −$1.82/SF
EGI
$143.2K $20.98/SF
− OpEx
−$57.3K −$8.39/SF
NOI
$85.9K $12.59/SF
Area
Brevard County, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$1,718,180
Cap Rate 7%
$1,227,271
Cap Rate 9%
$954,544
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,888 @ 7.0% cap · market cap 9.29%
Second Best
Healthcare Medical
$1.23M
$1.07M – $1.43M
NOI $85,909 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,063 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32955, FL
40,275
Population
19,281
Households
2.1
Avg Household Size
46
Median Age
38%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
791
Density / Sq Mi
$85,133
Median Household Income
$43,574
Median Earnings
$1,656
Median Rent
$327,000
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?
Medical Office Space - Functional medical space in Rockledge, ready for occupancy.
Where is this medical office space located?
The property is located at 1099 Florida Ave Rockledge, 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: Freestanding 6,826 SF medical office building, ideal for medical or professional users.; Up to eight plumbed exam rooms, largely turnkey, requiring only minor improvements.; Ample on‑site parking surrounding the property.
