Fully Renovated Office Tech
For Sale
$5,500,000
907 East Strawbridge Avenue, Melbourne, FL 32901
Fully renovated office property sold with a 10-year true net tech lease and onsite plus city parking access.
Property Size14,400 SF
Days on Market92
Property Features for 907 East Strawbridge Avenue
General Information
Standard status
Active
Size
14,400 SF
Class
B
Property subtype
Office
Building Details
Building Size
14,400 SF
Year Built
1925
Year Renovated
2026
Listing Agency:
Lightle Beckner Robison, Inc.
Listed By:
Rob Beckner, SIOR · License #FL #SL707053
(321) 863-3226
Source:
Teamlbr
Added: Jun 4
Changed: Sep 3
Last Checked: Aug 24 at 3:10AM
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 sale presents a fully renovated office property that will be delivered in 2026 condition. The building is being offered with a 10-year, true net technology lease in place, creating a structured long-term occupancy. Parking is supported by both onsite and city options for tenant and visitor access.
The property is located at 907 E Strawbridge Ave in Melbourne, Florida. It sits across from the Melbourne parking garage and is described as walkable to nearby restaurants, providing convenient amenities within the immediate area.
For tenant or buyer considerations, the combination of a fully renovated asset and a long-term true net tech lease can appeal to parties seeking an office investment or a stabilized income profile. The practical parking setup, including onsite and city parking, supports day-to-day operations and client visits, while the stated walkability to restaurants adds everyday convenience for occupants.
The property is located at 907 E Strawbridge Ave in Melbourne, Florida. It sits across from the Melbourne parking garage and is described as walkable to nearby restaurants, providing convenient amenities within the immediate area.
For tenant or buyer considerations, the combination of a fully renovated asset and a long-term true net tech lease can appeal to parties seeking an office investment or a stabilized income profile. The practical parking setup, including onsite and city parking, supports day-to-day operations and client visits, while the stated walkability to restaurants adds everyday convenience for occupants.
Key Highlights
- Sold with a 10‑year, true net tech lease
- Fully renovated in 2026
- Across from the Melbourne parking garage
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
$195,955
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
3.56%
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%
$3,919,100
$3.9M
Cap Rate 7%
$2,799,357
$2.8M
Cap Rate 9%
$2,177,278
$2.2M
Market Conditions
NOI Build-Up for 14,400 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
$311.0K $21.60/SF
− Vacancy
−$49.8K −$3.46/SF
EGI
$261.3K $18.14/SF
− OpEx
−$65.3K −$4.54/SF
NOI
$196.0K $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%
$3,919,100
Cap Rate 7%
$2,799,357
Cap Rate 9%
$2,177,278
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.27M
NOI $195,955 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.32M – $4.43M
NOI $265,939 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,950
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Fully renovated office property sold with a 10-year true net tech lease and onsite plus city parking access.
Where is this office building located?
The property is located at 907 East Strawbridge Avenue Melbourne, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Sold with a 10‑year, true net tech lease; Fully renovated in 2026; Across from the Melbourne parking garage
