Renovated Office
For Sale
Contact for pricing
1116 Sarno Road, Melbourne, FL 32935
The space is identified for professional, healthcare, business service, education, and wellness uses.
Property Size3,699 SF
Price / SF$0.95
Days on Market117
Property Features for 1116 Sarno Road
General Information
Standard status
Active
Size
3,699 SF
Property subtype
Office
Additional Details
Condition
Newly Renovated
Medical Specialty
dental, orthodontics, physical therapy, occupational therapy, chiropractic, mental health, psychology, speech therapy
Building Details
Year Built
1958
Listing Agency:
Compass Florida, LLC
(321) 214-8400
Listed By:
Bobby Freeman · License #3076980
(321) 693-1694
Source:
Mccoyfreeman
Added: Jul 6
Changed: Oct 30
Last Checked: Oct 30 at 2:05AM
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 Compass Florida, LLC
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Investment Insights
Based on property information with market context.
The 3,699-square-foot office space was built in 1958 and has been fully renovated. The listed use options include professional offices, medical and healthcare services, business services, education and training, and personal wellness businesses.
The property is located at 1116 Sarno Road in Melbourne, Florida.
The property is located at 1116 Sarno Road in Melbourne, Florida.
Key Highlights
- 3,699 square feet of office space
- Fully renovated; originally built in 1958
- Listed use options include professional offices, healthcare, business services, education, and wellness
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,554
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,080
$931.1K
Cap Rate 7%
$665,057
$665.1K
Cap Rate 9%
$517,267
$517.3K
Market Conditions
NOI Build-Up for 3,699 SF
Gross rent
$84.3K $22.80/SF
− Vacancy
−$6.7K −$1.82/SF
EGI
$77.6K $20.98/SF
− OpEx
−$31.0K −$8.39/SF
NOI
$46.6K $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 Rate 5%
$931,080
Cap Rate 7%
$665,057
Cap Rate 9%
$517,267
Alternative Uses
Best Use
Office B
$719.1K
$629.2K – $838.9K
NOI $50,336 @ 7.0% cap · market cap 1,438.17%
Second Best
Healthcare Medical
$665.1K
$581.9K – $775.9K
NOI $46,554 @ 7.0% cap · market cap 1,330.11%
Theoretical Best
Office A
$975.9K
$853.9K – $1.14M
NOI $68,313 @ 7.0% cap · market cap 1,951.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The space is identified for professional, healthcare, business service, education, and wellness uses.
Where is this office unit located?
The property is located at 1116 Sarno Road Melbourne, FL.
What are key features of this property?
This property features: 3,699 square feet of office space; Fully renovated; originally built in 1958; Listed use options include professional offices, healthcare, business services, education, and wellness
