Medical Office on
For Sale
Contact for pricing
1532 N Harbor City Blvd, Melbourne, FL 32935
Commercial property with medical build-out and high visibility.
Property Size3,200 SF
Price / SF$280.94
Days on Market755
Property Features for 1532 N Harbor City Blvd
General Information
Standard status
Active
Size
3,200 SF
Class
B
Property subtype
Office
Zoning
C3
Investment Type
Owner/User
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Lightle Beckner Robison Inc
(321) 722-0707
Listed By:
Vitor De Sousa, CCIM · License #FL-3478927
Source:
Crexi
Added: Jul 16, 2024
Changed: Aug 8
Last Checked: May 12 at 10:08PM
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 Lightle Beckner Robison Inc
Investment Insights
Based on property information with market context.
Located at 1532 N Harbor City Blvd in Melbourne, Florida, this commercial property offers visibility and access directly on US-1. The building, predominantly built out as medical space, is currently occupied by MedFast Urgent Care and will be delivered vacant at the time of closing; however, MedFast may consider remaining as a tenant, depending on the terms. The property was fully renovated in 2020 and features modern medical facilities. It benefits from direct frontage on US-1, ensuring exposure. The property size is 3200 square feet. Additional parking is available at 836 Creel Street, located directly across the street and being sold separately.
Key Highlights
- Prime commercial property with excellent visibility and access directly on US‑1.
- Delivered vacant at closing, offering immediate occupancy or redevelopment potential.
- Predominantly built out as modern medical space, suitable for medical practices.
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
$43,546
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
4.84%
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%
$870,920
$870.9K
Cap Rate 7%
$622,086
$622.1K
Cap Rate 9%
$483,844
$483.8K
Market Conditions
NOI Build-Up for 3,200 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
$69.1K $21.60/SF
− Vacancy
−$11.1K −$3.46/SF
EGI
$58.1K $18.14/SF
− OpEx
−$14.5K −$4.54/SF
NOI
$43.5K $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%
$870,920
Cap Rate 7%
$622,086
Cap Rate 9%
$483,844
Alternative Uses
Best Use
Office B
$622.1K
$544.3K – $725.8K
NOI $43,546 @ 7.0% cap · market cap 4.84%
Second Best
Healthcare Medical
$575.3K
$503.4K – $671.2K
NOI $40,274 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$844.3K
$738.7K – $985.0K
NOI $59,098 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Balanced
Demand for This Use
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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Similar Off Market Nearby
- Florida Aid To Animals — 741 Creel St, Melbourne, FL 32935
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercial property with medical build-out and high visibility.
Where is this medical office space located?
The property is located at 1532 N Harbor City Blvd Melbourne, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime commercial property with excellent visibility and access directly on US‑1.; Delivered vacant at closing, offering immediate occupancy or redevelopment potential.; Predominantly built out as modern medical space, suitable for medical practices.
