Medical Office Near Holmes
For Sale
$650,000
1405 Pine Street, Melbourne, FL 32901
Medical office space for sale near Health First Holmes.
Property Size2,004 SF
Days on Market220
Property Features for 1405 Pine Street
General Information
Standard status
Active
Size
2,004 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,004 SF
Listed By:
Michael S. Ullian, President, CCIM, SIOR · License #FL #BK447039
(321) 258-7556
Source:
Ullianrealty
Added: Mar 6
Changed: Oct 9
Last Checked: Oct 11 at 3:43AM
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 Michael S. Ullian, President, CCIM, SIOR
Investment Insights
Based on property information with market context.
This commercial property is suitable for medical office space. It features a waiting room, check-in/out area, a lab, four plumbed exam rooms, and a doctor’s office. The property is conveniently located within walking distance of Health First Holmes Regional Medical Center and the broader Melbourne medical community. Downtown Melbourne, Melbourne Square Mall, and Melbourne International Airport are a short drive away. The surrounding area offers a variety of shopping, dining, schools, and employers.
Key Highlights
- Walking distance to Health First Holmes Regional Medical Center
- Features 4 Plumbed Exam Rooms
- Proximity to Melbourne medical community
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,270
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,400
$545.4K
Cap Rate 7%
$389,571
$389.6K
Cap Rate 9%
$303,000
$303.0K
Market Conditions
NOI Build-Up for 2,004 SF
Gross rent
$43.3K $21.60/SF
− Vacancy
−$6.9K −$3.46/SF
EGI
$36.4K $18.14/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$27.3K $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 Rate 5%
$545,400
Cap Rate 7%
$389,571
Cap Rate 9%
$303,000
Alternative Uses
Best Use
Office B
$389.6K
$340.9K – $454.5K
NOI $27,270 @ 7.0% cap · market cap 4.20%
Second Best
Healthcare Medical
$360.3K
$315.3K – $420.4K
NOI $25,222 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$528.7K
$462.6K – $616.8K
NOI $37,010 @ 7.0% cap · market cap 5.69%
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
2,772
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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- Strubbe Todd DVM — Melbourne, FL 32904
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space for sale near Health First Holmes.
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 $650,000.
What are key features of this property?
This property features: Walking distance to Health First Holmes Regional Medical Center; Features 4 Plumbed Exam Rooms; Proximity to Melbourne medical community
