Industrial Warehouse and Manufacturing
For Sale
$3,490,000
1808 - 1826 Baldwin Street, Rockledge, FL 32955
Combined warehouse and manufacturing space with machine shop, offices, multiple grade level doors, fenced yard, and heavy power.
Property Size32,896 SF
Lot Size2.87 Acres
Price / SF$105.76
Days on Market148
Property Features for 1808 - 1826 Baldwin Street
General Information
Standard status
Active
Size
32,896 SF
Lot size
2.87 Acres
Property subtype
Industrial
Zoning
M1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Heavy Power
Yes
Building Details
Building Size
32,896 SF
Year Built
1983
Listed By:
Brian L. Lightle, CCIM, SIOR, CRE · License #FL #BK510409
(321) 863-3228
Source:
Teamlbr
Added: Apr 10
Changed: Aug 31
Last Checked: Sep 4 at 5:21AM
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 Brian L. Lightle, CCIM, SIOR, CRE
Investment Insights
Based on property information with market context.
This for-sale industrial property offers combined warehouse and manufacturing space, including manufacturing areas and a machine shop. The facility also includes offices, a conference room, large open cubicle space, and a showroom area. Additional features include multiple grade level doors, heavy power, fenced yard space, pylon signage, and ample parking.
The property is located between Eyster and just off Barton Blvd in Rockledge, Florida, with proximity to US Highway 1 and major highways and transportation corridors.
Constructed in 1983 and 2000, the building(s) provide a configuration that is approximately 70% manufacturing/warehouse/machine shop and approximately 30% office and related space. Zoning is listed as M1, with future land use identified as RMV and redevelopment mixed use.
The property is located between Eyster and just off Barton Blvd in Rockledge, Florida, with proximity to US Highway 1 and major highways and transportation corridors.
Constructed in 1983 and 2000, the building(s) provide a configuration that is approximately 70% manufacturing/warehouse/machine shop and approximately 30% office and related space. Zoning is listed as M1, with future land use identified as RMV and redevelopment mixed use.
Key Highlights
- +/- 33,000 SF combined industrial warehouse/manufacturing space, including machine shop areas and offices
- +/- 40,000 SF total buildings/warehouses constructed in 1983 and 2000
- Heavy power available and multiple grade level doors for warehouse and manufacturing access
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
$227,373
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
6.51%
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%
$4,547,460
$4.5M
Cap Rate 7%
$3,248,186
$3.2M
Cap Rate 9%
$2,526,367
$2.5M
Market Conditions
NOI Build-Up for 33,000 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
$277.2K $8.40/SF
− Vacancy
−$9.7K −$0.29/SF
EGI
$267.5K $8.11/SF
− OpEx
−$40.1K −$1.22/SF
NOI
$227.4K $6.89/SF
Area
Brevard County, FL
Vacancy
3.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$4,547,460
Cap Rate 7%
$3,248,186
Cap Rate 9%
$2,526,367
Alternative Uses
Best Use
Flex RnD
$4.81M
$4.21M – $5.62M
NOI $336,937 @ 7.0% cap · market cap 9.65%
Second Best
Warehouse
$3.25M
$2.84M – $3.79M
NOI $227,373 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$8.71M
$7.62M – $10.16M
NOI $609,444 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 32955, FL
40,275
Population
19,281
Households
2.1
Avg Household Size
46
Median Age
38%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
791
Density / Sq Mi
$85,133
Median Household Income
$43,574
Median Earnings
$1,656
Median Rent
$327,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined warehouse and manufacturing space with machine shop, offices, multiple grade level doors, fenced yard, and heavy power.
Where is this flex space located?
The property is located at 1808 - 1826 Baldwin Street Rockledge, FL.
What is the asking price?
The asking price for this property is $3,490,000.
What are key features of this property?
This property features: +/- 33,000 SF combined industrial warehouse/manufacturing space, including machine shop areas and offices; +/- 40,000 SF total buildings/warehouses constructed in 1983 and 2000; Heavy power available and multiple grade level doors for warehouse and manufacturing access
