Five-Office
For Sale
Contact for pricing
1600 Sarno Road #23, Melbourne, FL 32935
Direct parking-lot entry serves a front room, central office, three perimeter offices, and a bathroom.
Property Size65,260 SF
Price / SF$0.03
Days on Market215
Property Features for 1600 Sarno Road #23
General Information
Standard status
Active
Size
65,260 SF
Property subtype
Office
Additional Details
Property Use
Office
Building Details
Year Built
1986
Listing Agency:
D. Basile Real Estate, LLC
(321) 751-4500
Listed By:
Renee Andrea Rader · License #3425937
(321) 266-5767
Source:
Mccoyfreeman
Added: Mar 30
Changed: Oct 29
Last Checked: Oct 29 at 2:37PM
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 D. Basile Real Estate, 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 has a large front room leading into a central office area, with three smaller offices arranged around the perimeter and one bathroom. Building D was constructed in 1986, and the unit is entered directly from the parking lot.
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
- Five office areas plus one bathroom
- Direct entry from the parking lot
- Building D, built in 1986
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 50,746.17%
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 68,869.83%
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
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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 - Direct parking-lot entry serves a front room, central office, three perimeter offices, and a bathroom.
Where is this office unit located?
The property is located at 1600 Sarno Road #23 Melbourne, FL.
What are key features of this property?
This property features: Five office areas plus one bathroom; Direct entry from the parking lot; Building D, built in 1986
