Flex Office with Industrial
For Sale
$5,000,000
295 Barnes Boulevard ROCKLEDGE, Rockledge, FL 32955
Versatile office-configured property with Industrial Use (IU) zoning and connectivity to major regional transportation routes.
Property Size27,925 SF
Price / SF$181.86
Days on Market42
Property Features for 295 Barnes Boulevard ROCKLEDGE
General Information
Standard status
Active
Size
27,925 SF
Zoning
IU
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$29,762
Amenities
Carpet,Ceramic Tile,Luxury Vinyl
true
2
Public Records
Trees/Landscaped
2.24
false
Ground Level,Over 30 Spaces
Asphalt,Paved
Slab
Business District,County Road,Main Throrughfare
27925
1
Building Details
Building Size
27,925 SF
Year Built
1988
Buildings
1
Stories
2
Listing Agency:
(904) 569-5862
Listed By:
Anthony Gotham
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 16
Last Checked: Aug 16 at 3:03AM
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 Anthony Gotham
Investment Insights
Based on property information with market context.
The property at 295 Barnes Boulevard is a versatile commercial asset currently configured as professional office space, with an emphasis on immediate functionality for an owner-user. The existing office build-out supports headquarters-style operations, while the Industrial Use (IU) zoning provides flexibility to accommodate a range of commercial, service, flex, and light industrial uses. The configuration and zoning also support leasing flexibility, with the property capable of serving either a single-tenant user or a multi-tenant setup depending on how it is operated.
Located along Barnes Boulevard in Rockledge, the property offers access to major transportation corridors, including US-1, Interstate 95, and State Road 520, supporting convenient connectivity throughout Brevard County and the Central Florida region.
From a practical standpoint, the combination of an in-place office layout and IU zoning is designed to support both near-term office use and longer-term adaptability toward flex or light industrial space.
Located along Barnes Boulevard in Rockledge, the property offers access to major transportation corridors, including US-1, Interstate 95, and State Road 520, supporting convenient connectivity throughout Brevard County and the Central Florida region.
From a practical standpoint, the combination of an in-place office layout and IU zoning is designed to support both near-term office use and longer-term adaptability toward flex or light industrial space.
Key Highlights
- One building totaling 27,925 SF on a 2.24‑acre lot, built in 1988
- Industrial Use (IU) zoning; currently configured as professional office space
- 2 stories with heating and air conditioning (HVAC) and flooring including carpet, ceramic tile, and luxury vinyl
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
$374,125
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
7.48%
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%
$7,482,500
$7.5M
Cap Rate 7%
$5,344,643
$5.3M
Cap Rate 9%
$4,156,944
$4.2M
Market Conditions
NOI Build-Up for 27,493 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
$593.8K $21.60/SF
− Vacancy
−$95.0K −$3.46/SF
EGI
$498.8K $18.14/SF
− OpEx
−$124.7K −$4.54/SF
NOI
$374.1K $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%
$7,482,500
Cap Rate 7%
$5,344,643
Cap Rate 9%
$4,156,944
Alternative Uses
Best Use
Office B
$5.34M
$4.68M – $6.24M
NOI $374,125 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.25M
$6.35M – $8.46M
NOI $507,741 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 32955, FL
40,275
Population
19,281
Households
2.1
Avg Household Size
46
Median Age
38%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
791
Density / Sq Mi
$85,133
Median Household Income
$43,574
Median Earnings
$1,656
Median Rent
$327,000
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 - Versatile office-configured property with Industrial Use (IU) zoning and connectivity to major regional transportation routes.
Where is this office building located?
The property is located at 295 Barnes Boulevard ROCKLEDGE Rockledge, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: One building totaling 27,925 SF on a 2.24‑acre lot, built in 1988; Industrial Use (IU) zoning; currently configured as professional office space; 2 stories with heating and air conditioning (HVAC) and flooring including carpet, ceramic tile, and luxury vinyl
