Four-Building Mixed-Use
For Sale
$1,900,000
1363 Cypress Avenue, Melbourne, FL 32935
Multi-tenant retail and office property with US-1 frontage and redevelopment provisions through the Eau Gallie Activity Center overlay.
Property Size13,675 SF
Lot Size0.64 Acres
Price / SF$138.94
Days on Market46
Property Features for 1363 Cypress Avenue
General Information
Standard status
Active
Size
13,675 SF
Lot size
0.64 Acres
Site & Location
Traffic Count
36,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$1,900,000
Building Details
Year Built
1957
Buildings
4
Tenancy
Multi
Listing Agency:
Reach Commercial Real Estate
(321) 300-4773
Listed By:
Cassandra Hartford · License #3296024
(321) 300-4773
Source:
Startbrevardsearch
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 29 at 11:45AM
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 Reach Commercial Real Estate
Investment Insights
Based on property information with market context.
This four-building commercial assemblage contains 13,675 SF across 0.64 acres and combines multi-tenant retail and office space under single ownership. The improvements were developed over time, with the oldest dating to 1957. The property occupies the full block immediately west of the US-1 and Eau Gallie Boulevard intersection, providing frontage along US-1.
The location benefits from reported US-1 traffic of 36,500 AADT, increasing to 55,500 north at Sarno Road. Eau Gallie Boulevard provides the only bridge crossing to the barrier island in this segment. Melbourne Orlando International Airport is 14 minutes west, I-95 is six minutes north, and downtown Melbourne is nine minutes south. L3Harris and Holmes Regional Medical Center are within four miles.
The site is within the Eau Gallie Activity Center overlay, which permits elevated floor area ratios and densities. It also carries Community Redevelopment Area status and is designated Flood Zone X per FEMA Panel 12009C0519H; no flood insurance is required.
The location benefits from reported US-1 traffic of 36,500 AADT, increasing to 55,500 north at Sarno Road. Eau Gallie Boulevard provides the only bridge crossing to the barrier island in this segment. Melbourne Orlando International Airport is 14 minutes west, I-95 is six minutes north, and downtown Melbourne is nine minutes south. L3Harris and Holmes Regional Medical Center are within four miles.
The site is within the Eau Gallie Activity Center overlay, which permits elevated floor area ratios and densities. It also carries Community Redevelopment Area status and is designated Flood Zone X per FEMA Panel 12009C0519H; no flood insurance is required.
Key Highlights
- 13,675 SF commercial assemblage across 0.64 acres
- Four buildings with multi‑tenant retail and office space under single ownership
- Full‑block position immediately west of the US‑1 and Eau Gallie Boulevard intersection
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
$158,664
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
8.35%
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%
$3,173,280
$3.2M
Cap Rate 7%
$2,266,629
$2.3M
Cap Rate 9%
$1,762,933
$1.8M
Market Conditions
NOI Build-Up for 13,675 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
$279.0K $20.40/SF
− Vacancy
−$25.1K −$1.84/SF
EGI
$253.9K $18.56/SF
− OpEx
−$95.2K −$6.96/SF
NOI
$158.7K $11.60/SF
Area
Brevard County, FL
Vacancy
9.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$3,173,280
Cap Rate 7%
$2,266,629
Cap Rate 9%
$1,762,933
Alternative Uses
Best Use
Office B
$2.66M
$2.33M – $3.10M
NOI $186,089 @ 7.0% cap · market cap 9.79%
Second Best
Mixed Use
$2.27M
$1.98M – $2.64M
NOI $158,664 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,550 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36,500 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
938
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant retail and office property with US-1 frontage and redevelopment provisions through the Eau Gallie Activity Center overlay.
Where is this mixed-use property located?
The property is located at 1363 Cypress Avenue Melbourne, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 13,675 SF commercial assemblage across 0.64 acres; Four buildings with multi‑tenant retail and office space under single ownership; Full‑block position immediately west of the US‑1 and Eau Gallie Boulevard intersection
