Flex Space with
For Sale
Contact for pricing
750 North Dr, Melbourne, FL 32934
Office and warehouse areas combine with dedicated parking, M1 zoning, and adaptable production capacity.
Property Size9,600 SF
Price / SF$176.56
Days on Market501
Property Features for 750 North Dr
General Information
Standard status
Active
Size
9,600 SF
Total Parking Spaces
39
Property subtype
INDUSTRIAL
Zoning
M1
Warehouse & Industrial
Clear Height
14 ft
Warehouse Space
1,600 SF
Office Build-Out
8,000 SF
Drive-In Doors
1
Power
850 amps
Voltage
240 V
Three-Phase Power
No
Additional Details
Utilities to Site
Yes
Building Details
Building Size
9,600 SF
Listing Agency:
The Ullian Realty Corporation
(321) 258-7556
Listed By:
Zachary Ullian
(321) 750-3439
Source:
Moodyscre
Added: Apr 17, 2025
Changed: Aug 29
Last Checked: Aug 29 at 10:51PM
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 The Ullian Realty Corporation
Investment Insights
Based on property information with market context.
This flex property at 750 North Dr combines approximately 8,000 SF of office and engineering space with a 1,600 SF warehouse, totaling 9,600 SF. The office layout includes reception, enclosed offices, workstations, conference and break rooms, carpet, drop ceilings, and extensive windows. The warehouse offers concrete floors, estimated 10'–14' clear height, and a grade-level loading door measuring approximately 10' wide by 9' tall.
The property is fully HVAC-equipped and served by city water and sewer, fiber, and FPL electric with 1-phase 120/240v service and 850 amps. Site improvements include 39 asphalt-paved, striped, and lighted parking spaces plus two generators. M1 zoning supports office, light assembly/manufacturing, and electronic assembly uses. Remaining FF&E is negotiable, and lease availability is also offered.
The property is fully HVAC-equipped and served by city water and sewer, fiber, and FPL electric with 1-phase 120/240v service and 850 amps. Site improvements include 39 asphalt-paved, striped, and lighted parking spaces plus two generators. M1 zoning supports office, light assembly/manufacturing, and electronic assembly uses. Remaining FF&E is negotiable, and lease availability is also offered.
Key Highlights
- 9,600 SF total: approximately 8,000 SF office/engineering and 1,600 SF warehouse
- M1 zoning supports office, light assembly/manufacturing, and electronic assembly uses
- Warehouse clear height estimated at 10' - 14'
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
$130,637
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
7.71%
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%
$2,612,740
$2.6M
Cap Rate 7%
$1,866,243
$1.9M
Cap Rate 9%
$1,451,522
$1.5M
Market Conditions
NOI Build-Up for 9,600 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
$207.4K $21.60/SF
− Vacancy
−$33.2K −$3.46/SF
EGI
$174.2K $18.14/SF
− OpEx
−$43.5K −$4.54/SF
NOI
$130.6K $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%
$2,612,740
Cap Rate 7%
$1,866,243
Cap Rate 9%
$1,451,522
Alternative Uses
Best Use
Office B
$1.87M
$1.63M – $2.18M
NOI $130,637 @ 7.0% cap · market cap 7.71%
Second Best
Flex RnD
$1.40M
$1.23M – $1.63M
NOI $98,018 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$2.53M
$2.22M – $2.95M
NOI $177,293 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32934, FL
18,355
Population
7,987
Households
2.3
Avg Household Size
51
Median Age
42%
College-Educated
94%
High-School Grad
22.9 sq mi
ZIP Area
802
Density / Sq Mi
$102,871
Median Household Income
$51,988
Median Earnings
$1,782
Median Rent
$392,300
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?
Flex space - Office and warehouse areas combine with dedicated parking, M1 zoning, and adaptable production capacity.
Where is this flex space located?
The property is located at 750 North Dr Melbourne, FL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 9,600 SF total: approximately 8,000 SF office/engineering and 1,600 SF warehouse; M1 zoning supports office, light assembly/manufacturing, and electronic assembly uses; Warehouse clear height estimated at 10' - 14'
