Two-Story Multi-Tenant Office
For Sale
$2,750,950
1275 S Patrick Dr, Satellite Beach, FL 32937
Configured with traditional and executive suites, the property includes on-site parking for its office occupants.
Property Size14,870 SF
Price / SF$185
Days on Market138
Property Features for 1275 S Patrick Dr
General Information
Standard status
Active
Size
14,870 SF
Property subtype
Commercial
Additional Details
Office Units
20
Building Details
Year Built
1987
Buildings
1
Stories
2
Tenancy
Multi
Abandoned
No
Listing Agency:
One Sotheby's International
Listed By:
Alan Charles Bauman
(252) 599-6001
Source:
Greaterorlandohomesforsale
Added: Jun 21
Changed: Nov 1
Last Checked: Nov 4 at 2:08PM
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 One Sotheby's International
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Investment Insights
Based on property information with market context.
Located at 1275 S Patrick Dr in Satellite Beach, this two-story office property contains 14,870 square feet of commercial space. The building includes 10 traditional office suites and 10 executive suites, creating a multi-tenant configuration within a single office asset. Constructed in 1987, it provides a defined office layout with multiple suite types.
The property is positioned between the Eau Gallie and Pineda Causeways in a beachside setting. On-site parking is available, supporting the building’s office use and suite-based occupancy.
The property is positioned between the Eau Gallie and Pineda Causeways in a beachside setting. On-site parking is available, supporting the building’s office use and suite-based occupancy.
Key Highlights
- 14,870‑square‑foot office building constructed in 1987
- Two‑story property with 10 traditional office suites
- Includes 10 executive office suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,351
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,047,020
$4.0M
Cap Rate 7%
$2,890,729
$2.9M
Cap Rate 9%
$2,248,344
$2.2M
Market Conditions
NOI Build-Up for 14,870 SF
Gross rent
$321.2K $21.60/SF
− Vacancy
−$51.4K −$3.46/SF
EGI
$269.8K $18.14/SF
− OpEx
−$67.5K −$4.54/SF
NOI
$202.4K $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 Rate 5%
$4,047,020
Cap Rate 7%
$2,890,729
Cap Rate 9%
$2,248,344
Alternative Uses
Best Use
Office B
$2.89M
$2.53M – $3.37M
NOI $202,351 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.58M
NOI $274,619 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
20
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
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Business Placement
Demographics for 32937, FL
27,306
Population
13,619
Households
2
Avg Household Size
50
Median Age
53%
College-Educated
99%
High-School Grad
6.8 sq mi
ZIP Area
4,016
Density / Sq Mi
$98,411
Median Household Income
$55,420
Median Earnings
$1,718
Median Rent
$421,300
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 building - Configured with traditional and executive suites, the property includes on-site parking for its office occupants.
Where is this office building located?
The property is located at 1275 S Patrick Dr Satellite Beach, FL.
What is the asking price?
The asking price for this property is $2,750,950.
What are key features of this property?
This property features: 14,870‑square‑foot office building constructed in 1987; Two‑story property with 10 traditional office suites; Includes 10 executive office suites
