Two-Tenant Office
For Sale
Contact for pricing
1322 Oak St, Melbourne, FL 32901
Two office buildings totaling 5,298 SF, each configured for a single tenant.
Property Size5,298 SF
Price / SF$188.75
Days on Market182
Property Features for 1322 Oak St
General Information
Standard status
Active
Size
5,298 SF
Property subtype
Office
Zoning
C1
Occupancy
50%
Lease Type
NNN
Investment Type
Redevelopment
Building Details
Year Built
1957
Buildings
2
Stories
1
Units
2
Tenancy
Single
Listing Agency:
Space Coast Professional Properties
Listed By:
Jennifer Burn · License #6501326001
Source:
Crexi
Added: Mar 16
Changed: Sep 12
Last Checked: Sep 13 at 3:57AM
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 Space Coast Professional Properties
Investment Insights
Based on property information with market context.
The property includes two separate office buildings totaling 5,298 SF, with each building set up for single-tenant occupancy. Building sizes are 3,930 SF and 1,368 SF.
This offering is for sale and is identified as office buildings and office spaces, with the address provided as 1322 Oak St, Melbourne, FL 32901.
The configuration is straightforward for users or investors looking to own two independently occupied office buildings within the same offering.
This offering is for sale and is identified as office buildings and office spaces, with the address provided as 1322 Oak St, Melbourne, FL 32901.
The configuration is straightforward for users or investors looking to own two independently occupied office buildings within the same offering.
Key Highlights
- Two office buildings totaling 5,298 SF
- Building 1 features 3,930 SF and is configured for a single tenant
- Building 2 features 1,368 SF and is configured for a single tenant
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
$72,095
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
7.21%
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%
$1,441,900
$1.4M
Cap Rate 7%
$1,029,929
$1.0M
Cap Rate 9%
$801,056
$801.1K
Market Conditions
NOI Build-Up for 5,298 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
$114.4K $21.60/SF
− Vacancy
−$18.3K −$3.46/SF
EGI
$96.1K $18.14/SF
− OpEx
−$24.0K −$4.54/SF
NOI
$72.1K $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%
$1,441,900
Cap Rate 7%
$1,029,929
Cap Rate 9%
$801,056
Alternative Uses
Best Use
Office B
$1.03M
$901.2K – $1.20M
NOI $72,095 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,843 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,086
Businesses Nearby
Explore this area
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
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Two office buildings totaling 5,298 SF, each configured for a single tenant.
Where is this office building located?
The property is located at 1322 Oak St Melbourne, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Two office buildings totaling 5,298 SF; Building 1 features 3,930 SF and is configured for a single tenant; Building 2 features 1,368 SF and is configured for a single tenant
