Renovated Flex
For Sale
$725,000
1340 S Wickham Road, Melbourne, FL 32904
Updated commercial space with parking and outdoor areas supports office, retail, storage, and service-oriented operations.
Property Size3,008 SF
Price / SF$241.02
Days on Market51
Property Features for 1340 S Wickham Road
General Information
Standard status
Active
Size
3,008 SF
Additional Details
Road Access
Yes
Listing Agency:
Relentless Real Estate Co.
(321) 412-4021
Listed By:
Jennifer Brown · License #3592570
(321) 412-4021
Source:
Startbrevardsearch
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 28 at 7:16AM
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 Relentless Real Estate Co.
Investment Insights
Based on property information with market context.
This flex property at 1340 S Wickham Road in Melbourne combines recently renovated interiors with outdoor space and abundant parking. Improvements include new flooring, interior paint, bathrooms, and plumbing. The property occupies nearly one acre and is positioned along a busy, high-traffic road, providing a commercial setting suited to office, retail, contractor, equipment-storage, and specialty-service uses. Prior operations included a day care and a behavioral health facility.
Key Highlights
- Nearly one‑acre commercial property at 1340 S Wickham Road, Melbourne, FL 32904
- Recent upgrades include flooring, paint, bathrooms, and plumbing
- Abundant parking and outdoor areas
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
$40,933
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
5.65%
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%
$818,660
$818.7K
Cap Rate 7%
$584,757
$584.8K
Cap Rate 9%
$454,811
$454.8K
Market Conditions
NOI Build-Up for 3,008 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
$65.0K $21.60/SF
− Vacancy
−$10.4K −$3.46/SF
EGI
$54.6K $18.14/SF
− OpEx
−$13.6K −$4.54/SF
NOI
$40.9K $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%
$818,660
Cap Rate 7%
$584,757
Cap Rate 9%
$454,811
Alternative Uses
Best Use
Office B
$584.8K
$511.7K – $682.2K
NOI $40,933 @ 7.0% cap · market cap 5.65%
Second Best
Retail
$495.4K
$433.5K – $578.0K
NOI $34,679 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$793.6K
$694.4K – $925.9K
NOI $55,552 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32904, FL
35,399
Population
15,117
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
217.1 sq mi
ZIP Area
163
Density / Sq Mi
$86,943
Median Household Income
$42,451
Median Earnings
$1,763
Median Rent
$334,400
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?
Flex space - Updated commercial space with parking and outdoor areas supports office, retail, storage, and service-oriented operations.
Where is this flex space located?
The property is located at 1340 S Wickham Road Melbourne, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Nearly one‑acre commercial property at 1340 S Wickham Road, Melbourne, FL 32904; Recent upgrades include flooring, paint, bathrooms, and plumbing; Abundant parking and outdoor areas
