Renovated Professional
1318 Oak St, Melbourne, FL 32901
For Sale
New
$375,000
An updated interior and efficient footprint support professional office use, including a medical-related practice.
Property Size1,472 SF
Price / SF$326.94
Days on Market1
Property Features for 1318 Oak St
General Information
Standard status
Size
Class
Property subtype
Additional Details
Condition
Property Use
Building Details
Building Size
Year Built
Listing Agency:
Lightle Beckner Robison, Inc.
Listed By:
Hayden Brouillette · License FL SL3587660
(321) 722-0707
Source:
Teamlbr
Added: Nov 12
Last Checked: Nov 12 at 2:11PM
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.
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Investment Insights
Based on property information with market context.
This office property offers approximately 1,147 square feet of interior space and was built in 1959. Recent renovation work has refreshed the interior, while the compact layout provides space for a professional operation.
The property is at 1318 Oak St in Melbourne, Florida, with access to downtown Melbourne and surrounding business corridors. Its location is central to Melbourne.
The property is at 1318 Oak St in Melbourne, Florida, with access to downtown Melbourne and surrounding business corridors. Its location is central to Melbourne.
Key Highlights
- Approximately 1,147 SF of office space
- Interior recently renovated
- Built in 1959
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,670
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,400
$313.4K
Cap Rate 7%
$223,857
$223.9K
Cap Rate 9%
$174,111
$174.1K
Market Conditions
NOI Build-Up for 1,147 SF
Gross rent
$22.7K $19.80/SF
− Vacancy
−$1.8K −$1.58/SF
EGI
$20.9K $18.22/SF
− OpEx
−$5.2K −$4.55/SF
NOI
$15.7K $13.66/SF
Area
Brevard County, FL
Vacancy
8.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,400
Cap Rate 7%
$223,857
Cap Rate 9%
$174,111
Alternative Uses
Best Use
Office B
$223.9K
$195.9K – $261.2K
NOI $15,670 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$334.5K
$292.7K – $390.2K
NOI $23,413 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,086
Businesses Nearby
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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
$244,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Melbourne, FL
Properties on Market for Office Units in Melbourne
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - An updated interior and efficient footprint support professional office use, including a medical-related practice.
Where is this office unit located?
The property is located at 1318 Oak St Melbourne, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 1,147 SF of office space; Interior recently renovated; Built in 1959
