Auto Shop with Office and
For Sale
$699,000
2015 Aurora Road, Melbourne, FL 32935
Two-building property includes office space, an auto garage, and fenced outdoor areas for equipment or vehicles.
Property Size1,911 SF
Lot Size0.75 Acres
Price / SF$365.78
Days on Market46
Property Features for 2015 Aurora Road
General Information
Standard status
Active
Size
1,911 SF
Lot size
0.75 Acres
Property Condition
Severity
Repairs Needed
Evidence
ready for renovation, updates and customization
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Service Bays
2
Building Details
Buildings
2
Listing Agency:
Triad Realty LLC
(321) 505-5350
Listed By:
Mary Ellen Troilo · License #624672
(321) 505-5350
Source:
Startbrevardsearch
Added: Jul 15
Changed: Aug 28
Last Checked: Aug 28 at 8:56AM
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 Triad Realty LLC
Investment Insights
Based on property information with market context.
This automotive property comprises 4 contiguous lots totaling .75 acres and includes two separate buildings. The front structure provides 1,911 square feet of office space with reception and office areas, storage, a small kitchen, and a bathroom. The second building is an approximately 1,100-square-foot auto garage with two bays, including one bay equipped with a lift, along with office space and exterior shelving for larger items.
The property offers 58 feet of frontage on Aurora Road and 196 feet along Hibiscus Street in Melbourne. The rear three lots are fenced for equipment or vehicle storage. The existing layout supports automotive, contractor, and service-oriented operations, with the office building suited for renovation, updating, and customization. The source information also identifies potential use for a pool company, roofer, HVAC business, auto mechanic, or storage-facility redevelopment.
The property offers 58 feet of frontage on Aurora Road and 196 feet along Hibiscus Street in Melbourne. The rear three lots are fenced for equipment or vehicle storage. The existing layout supports automotive, contractor, and service-oriented operations, with the office building suited for renovation, updating, and customization. The source information also identifies potential use for a pool company, roofer, HVAC business, auto mechanic, or storage-facility redevelopment.
Key Highlights
- 4 contiguous lots totaling .75 acres
- Two separate buildings, including a 1,911‑square‑foot office building
- Approx. 1,100‑square‑foot auto garage with two bays and one lift
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
$26,005
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
3.72%
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%
$520,100
$520.1K
Cap Rate 7%
$371,500
$371.5K
Cap Rate 9%
$288,944
$288.9K
Market Conditions
NOI Build-Up for 1,911 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
$41.3K $21.60/SF
− Vacancy
−$6.6K −$3.46/SF
EGI
$34.7K $18.14/SF
− OpEx
−$8.7K −$4.54/SF
NOI
$26.0K $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%
$520,100
Cap Rate 7%
$371,500
Cap Rate 9%
$288,944
Alternative Uses
Best Use
Office B
$371.5K
$325.1K – $433.4K
NOI $26,005 @ 7.0% cap · market cap 3.72%
Second Best
Retail
$314.7K
$275.4K – $367.2K
NOI $22,032 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$504.2K
$441.2K – $588.2K
NOI $35,292 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- B&S Auto Tires — 2005 Aurora Rd, Melbourne, FL 32935
- Dewey's Transmissions And Auto Repair Inc — 1835 Aurora Rd, Melbourne, FL 32935
- Kendall Towing & Recovery — 1863 Aurora Rd, Melbourne, FL 32935
- Jim Corbin & Sons — 1434 Aurora Rd, Melbourne, FL 32935
- Expresslane Auto Care — 2803 Aurora Rd, Melbourne, FL 32935
Frequently Asked Questions
What type of property is this?
Auto shop - Two-building property includes office space, an auto garage, and fenced outdoor areas for equipment or vehicles.
Where is this auto shop located?
The property is located at 2015 Aurora Road Melbourne, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4 contiguous lots totaling .75 acres; Two separate buildings, including a 1,911‑square‑foot office building; Approx. 1,100‑square‑foot auto garage with two bays and one lift
