Medical Office with Treatment
1589 S Wickham Road, West Melbourne, FL 32904
For Sale
$525,000
A flexible floor plan includes private offices, shared multipurpose space, and dedicated waiting and reception areas.
Property Size1,815 SF
Lot Size0.36 Acres
Price / SF$289.26
Days on Market89
Property Features for 1589 S Wickham Road
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Additional Details
Road Access
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Buildings
Listing Agency:
Waterman Real Estate Inc.
Listed By:
Meili Viera Porter · License #3215665
(321) 244-7653
Source:
Mvpsalesgroup
Added: Aug 13
Changed: Nov 6
Last Checked: Nov 8 at 2:50PM
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 Waterman Real Estate Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The freestanding medical office contains 1,815 square feet on a 0.36-acre parcel. An enclosed foyer leads to a waiting room and reception area, with six private offices or treatment rooms, an open multipurpose area, two public restrooms, and a half bath. A separate private office has its own bathroom and storage, while four rooms have water access. Exterior and attic storage are also included. The building underwent extensive reconstruction in 1989, with electrical, plumbing, roof framing, and interior components replaced; three original walls remained. The roof was installed in 2015.
At the corner of S Wickham Road, the property has side-road access and parking at both the front and rear. The parking area accommodates 10 standard vehicles and 2 compact vehicles. The east side of the building offers the possibility of adding approximately 1,320 square feet.
At the corner of S Wickham Road, the property has side-road access and parking at both the front and rear. The parking area accommodates 10 standard vehicles and 2 compact vehicles. The east side of the building offers the possibility of adding approximately 1,320 square feet.
Key Highlights
- 1,815‑square‑foot medical office on 0.36 acres
- Six private offices or treatment rooms; four rooms have water access
- Additional private office with bathroom and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,699
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,980
$494.0K
Cap Rate 7%
$352,843
$352.8K
Cap Rate 9%
$274,433
$274.4K
Market Conditions
NOI Build-Up for 1,815 SF
Gross rent
$39.2K $21.60/SF
− Vacancy
−$6.3K −$3.46/SF
EGI
$32.9K $18.14/SF
− OpEx
−$8.2K −$4.54/SF
NOI
$24.7K $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%
$493,980
Cap Rate 7%
$352,843
Cap Rate 9%
$274,433
Alternative Uses
Best Use
Office B
$352.8K
$308.7K – $411.7K
NOI $24,699 @ 7.0% cap · market cap 4.70%
Second Best
Healthcare Medical
$326.3K
$285.5K – $380.7K
NOI $22,843 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$478.8K
$419.0K – $558.7K
NOI $33,519 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32904, FL
35,399
Population
15,117
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
217.1 sq mi
ZIP Area
163
Density / Sq Mi
$86,943
Median Household Income
$42,451
Median Earnings
$1,763
Median Rent
$334,400
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Brevard County, FL
Properties on Market for Medical Office Space in Brevard County
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Sherry's Pet Salon — 4100 W New Haven Ave, Melbourne, FL 32904, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - A flexible floor plan includes private offices, shared multipurpose space, and dedicated waiting and reception areas.
Where is this medical office space located?
The property is located at 1589 S Wickham Road West Melbourne, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,815‑square‑foot medical office on 0.36 acres; Six private offices or treatment rooms; four rooms have water access; Additional private office with bathroom and storage
