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    2290 W Eau Gallie Blvd, Unit 100 Melbourne, FL 32935

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    For Lease
    $9,179 /Mo ($1.43 SF/Yr)

    4,991 RSF medical unit for lease in central Melbourne.

    Property size:
    77,145 SF
    Lot size:
    5.70 Acres

    Property Features for 2290 W Eau Gallie Blvd

    General Information

    Standard status
    Active
    Size
    77,145 SF
    Lot size
    5.70 Acres

    Building Details

    Year built
    1998

    We can help!

    Listing Contact
    Zachary Michael Ullian
    Zachary Michael Ullian
    Source: Exitrealty

    Listing Agency: The Ullian Realty Corporation Listing Agent: Zachary Michael Ullian

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Melbourne Medical Office Space Available

    This 4,991 RSF medical unit is available for lease in Melbourne. The interior layout features a waiting room, a check-in/check-out area, 10 exam rooms (one with plumbing), 4 offices, a break room, and 3 restrooms. The corner unit benefits from ample natural light through numerous windows. Interior finishes include a combination of carpet and tile flooring, along with a drop ceiling throughout. The unit is fully equipped with a fire sprinkler system. The property provides ample parking with 313 paved, striped, and lighted common parking spaces. A convenient covered portico and automatic double entry doors facilitate patient drop-off. Situated approximately midway between Interstate 95 and US1, the property is near the Melbourne International Airport, Downtown Eau Gallie Arts District, and Holmes Regional Medical Center. Its location also offers convenient access to shopping, dining, high schools, and beaches.
    Location Intelligence

    Current Use by Public Records

    Orlando Health Arnold ... Hospital Pediatric Specialty Practice Medical Clinic Dr. Benjamin Rhee Pediatrician Medical Associates of Brevard Medical Laboratory Buchalter & Pelphrey Attorneys ... Law Firm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Melbourne Animal Hospital, Port St. John Veterinary Hospital, Melbourne Animal Hospital: Bond Nikki DVM, Animal Emergency & Crtcl Care: Christiansen Jeff DVM, Dr. Pierre Bichsel DVM

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6579008
    Latitude
    28.1291837

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    FAQs

    What type of property is this?
    Medical Office Space - 4,991 RSF medical unit for lease in central Melbourne.
    Where is this medical office space located?
    The property is located at 2290 W Eau Gallie Blvd, Unit 100 Melbourne, FL.
    What is the lease rate?
    The lease rate is $1.43 SF/Yr.
    What are key features of this property?
    This property features: - Turnkey medical unit featuring **10 exam rooms (1 with plumbing), 4 offices, waiting room, and restrooms.**; - Prime location in Melbourne, convenient to I-95, US1, Melbourne International Airport, and Holmes Regional Medical Center.; - Abundant parking with 313 spaces, covered portico, and automatic double entry doors.
    (321) 750-3439
    Request Owner's contact information
    2290 W Eau Gallie Blvd, Unit 100 Melbourne, FL 32935
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    Melbourne, FL 32935
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2290 W Eau Gallie Blvd, Unit 100 Melbourne, FL 32935
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    We can help!
    Listing Contact
    Zachary Michael Ullian
    Zachary Michael Ullian
    Real Estate License ID: 3445627
    (321) 750-3439 (321) 779-9900 (321) 729-9900
    Learn more
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