Updated Office
New
For Sale
$599,000
1542 S WICKHAM Road, Melbourne, FL
Commercial Sale, Melbourne, FL
Property Size2,172 SF
Lot Size0.42 Acres
Price / SF$275.78
Days on Market1
Property Features for 1542 S WICKHAM Road
General Information
Property type
Residential
Property subtype
Office
Zoning
Office
Parking
7
Subdivision
6372 - Brevard County (W of IR)
Standard status
Active
APN
28360101000000e22
Size
2,172 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
L S T ESTATES LOT E 22 EX RD R/W
Tax Annual Amount
5621
Legal Description
L S T ESTATES LOT E 22 EX RD R/W
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Building materials
CBS
Roof type
Shingle
Listing Agency:
RE/MAX Gold · RE/MAX International
(772) 607-9600
Listed By:
Brittany Earll · License #3178225
(772) 341-5392
Added: Sep 25
Last Checked: Sep 25 at 3:06PM
MLS# B26080557
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,172-square-foot office building occupies a 0.42-acre parcel and has an existing tenant. Built in 1964, the CBS structure features a shingle roof, central heating, and central air conditioning. Public water and a septic system serve the property, which is zoned Office.
The building is on S Wickham Road in Melbourne, Florida. Nearby context includes major roadways, shopping, established businesses, and residential communities.
The building is on S Wickham Road in Melbourne, Florida. Nearby context includes major roadways, shopping, established businesses, and residential communities.
Key Highlights
- 2,172‑square‑foot office building on a 0.42‑acre parcel
- One tenant currently occupies the property
- Office zoning
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
$29,557
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
4.93%
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%
$591,140
$591.1K
Cap Rate 7%
$422,243
$422.2K
Cap Rate 9%
$328,411
$328.4K
Market Conditions
NOI Build-Up for 2,172 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
$46.9K $21.60/SF
− Vacancy
−$7.5K −$3.46/SF
EGI
$39.4K $18.14/SF
− OpEx
−$9.9K −$4.54/SF
NOI
$29.6K $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%
$591,140
Cap Rate 7%
$422,243
Cap Rate 9%
$328,411
Alternative Uses
Best Use
Office B
$422.2K
$369.5K – $492.6K
NOI $29,557 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$573.0K
$501.4K – $668.5K
NOI $40,112 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A leased commercial property offers a professional interior and Office zoning for business occupancy.
Where is this office building located?
The property is located at 1542 S WICKHAM Road Melbourne, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,172‑square‑foot office building on a 0.42‑acre parcel; One tenant currently occupies the property; Office zoning
