Office Unit with Elevator
For Sale
Contact for pricing
1600 Sarno Road #214, Melbourne, FL 32935
An elevator-served office unit with a foyer entrance in Melbourne.
Property Size65,260 SF
Price / SF$0.04
Days on Market112
Property Features for 1600 Sarno Road #214
General Information
Standard status
Active
Size
65,260 SF
Elevators
Yes
Property subtype
Office
Amenities
Foyer entrance
Building Details
Year Built
1986
Listing Agency:
Compass Florida, LLC
(321) 214-8400
Listed By:
Bobby Freeman · License #3076980
(321) 693-1694
Source:
Mccoyfreeman
Added: Jul 11
Changed: Oct 29
Last Checked: Oct 29 at 2:36PM
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 Compass Florida, LLC
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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.
This office unit at 1600 Sarno Road includes elevator access and a foyer entrance. The building was completed in 1986.
The property is in Melbourne, north of the Central Business District. Melbourne International Airport is 2 miles away, and I-95 is 5 miles away.
The property is in Melbourne, north of the Central Business District. Melbourne International Airport is 2 miles away, and I-95 is 5 miles away.
Key Highlights
- Elevator access and a foyer entrance
- Located 2 miles from Melbourne International Airport
- 5 miles from I‑95
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$888,058
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,761,160
$17.8M
Cap Rate 7%
$12,686,543
$12.7M
Cap Rate 9%
$9,867,311
$9.9M
Market Conditions
NOI Build-Up for 65,260 SF
Gross rent
$1.41M $21.60/SF
− Vacancy
−$225.5K −$3.46/SF
EGI
$1.18M $18.14/SF
− OpEx
−$296.0K −$4.54/SF
NOI
$888.1K $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%
$17,761,160
Cap Rate 7%
$12,686,543
Cap Rate 9%
$9,867,311
Alternative Uses
Best Use
Office B
$12.69M
$11.10M – $14.80M
NOI $888,058 @ 7.0% cap · market cap 31,818.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.22M
$15.07M – $20.09M
NOI $1,205,222 @ 7.0% cap · market cap 43,182.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - An elevator-served office unit with a foyer entrance in Melbourne.
Where is this office unit located?
The property is located at 1600 Sarno Road #214 Melbourne, FL.
What are key features of this property?
This property features: Elevator access and a foyer entrance; Located 2 miles from Melbourne International Airport; 5 miles from I‑95
