Standalone Medical Office
1405 Pine Street Melbourne, FL 32901
For Sale
$695,000
Standalone medical office includes a waiting area, plumbed exam rooms, lab space, and 10 paved parking spaces.
Property Size2,004 SF
Price / SF$346.81
Days on Market239
Property Features for 1405 Pine Street
General Information
- Standard status
- Active
- Size
- 2,004 SF
- Property subtype
- Office
Building Details
- Year Built
- 1976
Listing Agency:
The Ullian Realty Corporation
(321) 750-3439
Listed By:
Zachary Ullian · License #3445627
(321) 750-3439
Source:
Xome
Added: Nov 27, 2025
Changed: Jul 23
Last Checked: Jul 24 at 5:16AM
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 The Ullian Realty Corporation
Investment Insights
Based on property information with market context.
This stand-alone medical office offers approximately 2,004 square feet of dedicated clinical space, with interior features including a waiting room, check-in/out area, lab, four plumbed exam rooms, and a doctor’s office. The suite also includes three total restrooms, including one with a shower, and two additional restrooms with pass-through windows to the lab. Flooring consists of carpet and LVP, and the space has drop ceilings throughout.
The property provides 10 asphalt paved and striped parking spaces. Recent improvements include a roof replacement in 2025, a hot water heater upgrade in 2024, an electric panel replacement in 2023, and HVAC improvements in 2022.
Positioned for medical use, the layout supports exam and lab workflow with multiple plumbed rooms and built-in clinical areas.
The property provides 10 asphalt paved and striped parking spaces. Recent improvements include a roof replacement in 2025, a hot water heater upgrade in 2024, an electric panel replacement in 2023, and HVAC improvements in 2022.
Positioned for medical use, the layout supports exam and lab workflow with multiple plumbed rooms and built-in clinical areas.
Key Highlights
- 2,004 SF stand‑alone medical office with waiting room, check‑in/out, lab space, 4 plumbed exam rooms, and a doctor's office
- 3 total restrooms including 1 with shower, plus drop ceiling throughout and carpet/LVP flooring
- Corner lot with 10 asphalt paved/striped parking spaces
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.3k | $21.60 |
| − Vacancy | −$6.9k | −$3.46 |
| EGI | $36.4k | $18.14 |
| − OpEx | −$9.1k | −$4.54 |
| NOI | $27.3k | $13.61 |
2,004 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$389.6K
$340.9K – $454.5K
NOI $27,270 @ 7.0% cap · market cap 3.92%
Second Best
Healthcare Medical
$360.3K
$315.3K – $420.4K
NOI $25,222 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$528.7K
$462.6K – $616.8K
NOI $37,010 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Health First Medical ...
Medical Group
Peter P. Zabinski, ...
Physician
Similar Off Market Nearby
- Strubbe Todd DVM — Melbourne, FL 32904
FAQs
What type of property is this?
Medical Office Space - Standalone medical office includes a waiting area, plumbed exam rooms, lab space, and 10 paved parking spaces.
Where is this medical office space located?
The property is located at 1405 Pine Street Melbourne, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 2,004 SF stand‑alone medical office with waiting room, check‑in/out, lab space, 4 plumbed exam rooms, and a doctor's office; 3 total restrooms including 1 with shower, plus drop ceiling throughout and carpet/LVP flooring; Corner lot with 10 asphalt paved/striped parking spaces
