Two-Story Office and Medical
For Sale
$2,499,900
260 N Tropical Trl, Merritt Island, FL 32953
Brand-new office-medical building with an elevator, hurricane-rated windows and doors, and ample parking.
Property Size10,413 SF
Price / SF$240.07
Days on Market3952
Property Features for 260 N Tropical Trl
General Information
Standard status
Active
Size
10,413 SF
Taxes and HOA fees
Annual Taxes
$13,973
Building Details
Stories
2
Listing Agency:
Perrone Realty, LLC
(407) 733-0725
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Source:
Exprealty
Added: Oct 29, 2015
Changed: Aug 22
Last Checked: Aug 22 at 12:18PM
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 Perrone Realty, LLC
Investment Insights
Based on property information with market context.
This brand-new two-story office and medical complex is built for accessibility and durability. The building includes an elevator and is handicap accessible. Exterior finishes feature a barrel tile roof and designer colors, with a fountain on-site adding to the professional presentation. All windows and doors are hurricane rated, and the overall improvements are positioned for a clean, contemporary occupancy from day one.
The property is located at 260 N Tropical Trl in Merritt Island, just north of 520. It offers plenty of parking to support both patient and staff convenience, and the central positioning helps make the building easy to reach for businesses serving the surrounding area.
With its office and medical focus, this building can suit a range of professional uses that value controlled, walk-in friendly access and strong site presentation. The elevator supports multi-level operations, while handicap accessibility helps accommodate visitors and patients. The combination of hurricane-rated openings, dedicated parking, and turnkey new construction makes it a practical option for an organization seeking a ready-to-fit headquarters-style environment in a purpose-built office setting.
The property is located at 260 N Tropical Trl in Merritt Island, just north of 520. It offers plenty of parking to support both patient and staff convenience, and the central positioning helps make the building easy to reach for businesses serving the surrounding area.
With its office and medical focus, this building can suit a range of professional uses that value controlled, walk-in friendly access and strong site presentation. The elevator supports multi-level operations, while handicap accessibility helps accommodate visitors and patients. The combination of hurricane-rated openings, dedicated parking, and turnkey new construction makes it a practical option for an organization seeking a ready-to-fit headquarters-style environment in a purpose-built office setting.
Key Highlights
- Brand‑new 2‑story office/medical complex
- Includes an elevator and handicap accessible features
- Hurricane‑rated windows and doors
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
$141,700
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
5.67%
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%
$2,834,000
$2.8M
Cap Rate 7%
$2,024,286
$2.0M
Cap Rate 9%
$1,574,444
$1.6M
Market Conditions
NOI Build-Up for 10,413 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
$224.9K $21.60/SF
− Vacancy
−$36.0K −$3.46/SF
EGI
$188.9K $18.14/SF
− OpEx
−$47.2K −$4.54/SF
NOI
$141.7K $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%
$2,834,000
Cap Rate 7%
$2,024,286
Cap Rate 9%
$1,574,444
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,700 @ 7.0% cap · market cap 5.67%
Second Best
Healthcare Medical
$1.87M
$1.64M – $2.18M
NOI $131,054 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$2.75M
$2.40M – $3.21M
NOI $192,307 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 32953, FL
24,430
Population
11,566
Households
2.1
Avg Household Size
51
Median Age
35%
College-Educated
95%
High-School Grad
39.8 sq mi
ZIP Area
614
Density / Sq Mi
$84,248
Median Household Income
$41,534
Median Earnings
$1,300
Median Rent
$394,300
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?
Office building - Brand-new office-medical building with an elevator, hurricane-rated windows and doors, and ample parking.
Where is this office building located?
The property is located at 260 N Tropical Trl Merritt Island, FL.
What is the asking price?
The asking price for this property is $2,499,900.
What are key features of this property?
This property features: Brand‑new 2‑story office/medical complex; Includes an elevator and handicap accessible features; Hurricane‑rated windows and doors
