Office Space on
1512 N Harbor City Blvd, Melbourne, FL
For Sale
Contact for pricing
1,248 SF office space with high traffic exposure.
Property Size1,248 SF
Lot Size0.17 Acres
Price / SF$279.65
Days on Market982
Property Features for 1512 N Harbor City Blvd
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
The Ullian Realty Corporation
(321) 729-9900
Listed By:
Zachary Ullian · License FL #3445627
(321) 750-3439
Source:
Moodyscre
Added: Mar 6, 2024
Changed: Nov 7
Last Checked: Nov 12 at 5:38AM
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
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Investment Insights
Based on property information with market context.
This property features two 624 SF units, totaling 1,248 SF, which can be combined. Originally a duplex and former law office, it is currently used as an Air B&B. The property benefits from exposure to an estimated 40,000 vehicles per day on US1. It includes two electric meters, two HVAC units, and one water meter. Utilities available are city water/sewer and FPL electric. The C3 zoning allows for office, retail, medical, restaurant, wholesaling, and other uses. The seller will consider financing subject to contract terms and buyer credit. Please do not disturb the tenants.
Key Highlights
- High‑traffic location with approximately 40,000 vehicles passing daily (US1 exposure).
- Versatile C3 zoning allows for a wide range of uses including office, retail, medical, restaurant, and wholesaling.
- Potential for seller financing, subject to contract terms and buyer credit approval.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,050
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,000
$341.0K
Cap Rate 7%
$243,571
$243.6K
Cap Rate 9%
$189,444
$189.4K
Market Conditions
NOI Build-Up for 1,248 SF
Gross rent
$24.7K $19.80/SF
− Vacancy
−$2.0K −$1.58/SF
EGI
$22.7K $18.22/SF
− OpEx
−$5.7K −$4.55/SF
NOI
$17.1K $13.66/SF
Area
Brevard County, FL
Vacancy
8.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,000
Cap Rate 7%
$243,571
Cap Rate 9%
$189,444
Alternative Uses
Best Use
Office B
$243.6K
$213.1K – $284.2K
NOI $17,050 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$363.9K
$318.4K – $424.6K
NOI $25,474 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
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Market
Average Price Trend$/SF for Office Units in Melbourne, FL
Properties on Market for Office Units in Melbourne
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - 1,248 SF office space with high traffic exposure.
Where is this office unit located?
The property is located at 1512 N Harbor City Blvd Melbourne, FL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: High‑traffic location with approximately 40,000 vehicles passing daily (US1 exposure).; Versatile C3 zoning allows for a wide range of uses including office, retail, medical, restaurant, and wholesaling.; Potential for seller financing, subject to contract terms and buyer credit approval.
