Renovated Office
For Sale
$425,000
836 Creel St, Melbourne, FL 32935
Fully renovated 2021 office building with two large offices, reception area, kitchen, and a gravel fenced parking lot.
Property Size1,351 SF
Lot Size0.40 Acres
Days on Market97
Property Features for 836 Creel St
General Information
Standard status
Active
Size
1,351 SF
Class
B
Lot size
0.40 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
two large offices
reception area
full bathroom with shower
kitchen
spacious gravel fenced-in parking lot
Building Details
Building Size
1,351 SF
Year Built
1952
Year Renovated
2021
Listing Agency:
Lightle Beckner Robison, Inc.
Listed By:
Vitor De Sousa, CCIM · License #FL #BK3478927
(321) 419-9088
Source:
Teamlbr
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 6 at 6:44AM
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.
Located at 836 Creel St, Melbourne, FL, this fully renovated building (2021) provides a practical office layout with two large offices, a reception area, a full bathroom with a shower, and a kitchen. The property also includes a spacious gravel, fenced-in parking lot suited for outdoor storage needs.
The site is positioned right off N Harbor City Blvd (US-1) in the heart of the Melbourne market. It is described as being near the airport and major employers including Northrop Grumman, L3 Harris, and Embraer.
On a 0.40-acre parcel, the building and fenced parking combine indoor workspace with outdoor storage space, making the configuration straightforward for an owner-operator or a small business looking for dedicated on-site parking.
The site is positioned right off N Harbor City Blvd (US-1) in the heart of the Melbourne market. It is described as being near the airport and major employers including Northrop Grumman, L3 Harris, and Embraer.
On a 0.40-acre parcel, the building and fenced parking combine indoor workspace with outdoor storage space, making the configuration straightforward for an owner-operator or a small business looking for dedicated on-site parking.
Key Highlights
- Fully renovated office building completed in 2021 (YearBuilt: 1952) on a 0.40‑acre parcel at 836 Creel Street, Melbourne, FL
- Interior includes two large offices plus a reception area
- Full bathroom with a shower and a kitchen in the building
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
$18,384
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
4.33%
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%
$367,680
$367.7K
Cap Rate 7%
$262,629
$262.6K
Cap Rate 9%
$204,267
$204.3K
Market Conditions
NOI Build-Up for 1,351 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
$29.2K $21.60/SF
− Vacancy
−$4.7K −$3.46/SF
EGI
$24.5K $18.14/SF
− OpEx
−$6.1K −$4.54/SF
NOI
$18.4K $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 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%
$367,680
Cap Rate 7%
$262,629
Cap Rate 9%
$204,267
Alternative Uses
Best Use
Office B
$262.6K
$229.8K – $306.4K
NOI $18,384 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.4K
$311.9K – $415.8K
NOI $24,950 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
Explore this area
Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
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 units - Fully renovated 2021 office building with two large offices, reception area, kitchen, and a gravel fenced parking lot.
Where is this office units located?
The property is located at 836 Creel St Melbourne, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Fully renovated office building completed in 2021 (YearBuilt: 1952) on a 0.40‑acre parcel at 836 Creel Street, Melbourne, FL; Interior includes two large offices plus a reception area; Full bathroom with a shower and a kitchen in the building
