Renovated Medical Office
For Sale
$2,300,000
1250 S Harbor City Blvd, Melbourne, FL 32901
Medical and office building with recent renovations, a newer roof, and separate electric metering.
Property Size12,000 SF
Price / SF$183.19
Days on Market87
Property Features for 1250 S Harbor City Blvd
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1926
Year Renovated
2021
Buildings
1
Building Size
12,000 SF
Listing Agency:
JM Real Estate
Listed By:
Terry Winton · License #SL3407890
(321) 242-2882
Source:
Viewfloridabeachhouses
Added: Jun 23
Changed: Sep 2
Last Checked: Sep 16 at 9:55PM
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 JM Real Estate
Investment Insights
Based on property information with market context.
This 12,555-square-foot medical office property was built in 1926 and renovated in 2021. The building includes two electric meters and one water meter, supporting separate utility tracking within the property. A replacement roof was completed in 2020, and its warranty remains in effect.
The property is located at 1250 S Harbor City Boulevard in Melbourne, Florida, near downtown and the airport. Its medical-office classification and updated improvements provide a defined commercial use profile in an established central location.
The property is located at 1250 S Harbor City Boulevard in Melbourne, Florida, near downtown and the airport. Its medical-office classification and updated improvements provide a defined commercial use profile in an established central location.
Key Highlights
- 12,555 SF medical office property
- Renovated in 2021
- Roof installed in 2020 with warranty still in place
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
$170,848
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
7.43%
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%
$3,416,960
$3.4M
Cap Rate 7%
$2,440,686
$2.4M
Cap Rate 9%
$1,898,311
$1.9M
Market Conditions
NOI Build-Up for 12,555 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
$271.2K $21.60/SF
− Vacancy
−$43.4K −$3.46/SF
EGI
$227.8K $18.14/SF
− OpEx
−$56.9K −$4.54/SF
NOI
$170.8K $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%
$3,416,960
Cap Rate 7%
$2,440,686
Cap Rate 9%
$1,898,311
Alternative Uses
Best Use
Office B
$2.44M
$2.14M – $2.85M
NOI $170,848 @ 7.0% cap · market cap 7.43%
Second Best
Healthcare Medical
$2.26M
$1.98M – $2.63M
NOI $158,012 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,866 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,338
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32901, FL
26,286
Population
13,241
Households
2
Avg Household Size
46
Median Age
31%
College-Educated
90%
High-School Grad
12.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$50,646
Median Household Income
$31,929
Median Earnings
$1,349
Median Rent
$244,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Strubbe Todd DVM — Melbourne, FL 32904
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical and office building with recent renovations, a newer roof, and separate electric metering.
Where is this medical office space located?
The property is located at 1250 S Harbor City Blvd Melbourne, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 12,555 SF medical office property; Renovated in 2021; Roof installed in 2020 with warranty still in place
