Office Condo
For Sale
$599,000
1917 S Harbor City Boulevard, Melbourne, FL 32901
Office condo unit for sale in Brevard County, sized at 1,624 square feet.
Property Size1,624 SF
Price / SF$368.84
Days on Market180
Property Features for 1917 S Harbor City Boulevard
General Information
Standard status
Active
Size
1,624 SF
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$7,875
Amenities
Columns, Meeting Room, Office, Showroom
Accessible Entrance, Accessible Approach with Ramp, Accessible Bedroom, Accessible Electrical and Environmental Controls, Accessible Hallway(s), Smart Technology, Visitable
Central Air, Electric
Central, Electric
Back Yard, Wood
Circular Driveway, Parking Lot
Building Details
Building Size
1,624 SF
Year Built
1959
Stories
1
Listing Agency:
Pineapple Farms LLC
Listed By:
Adam Warner
(321) 890-5314
Source:
Evrealestate
Added: Mar 18
Changed: Sep 8
Last Checked: Sep 13 at 4:58AM
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 Pineapple Farms LLC
Investment Insights
Based on property information with market context.
This for-sale office condo unit is offered as part of the Office Units/Office Spaces property type. The property is listed with a total size of 1,624 square feet.
Located in Brevard County, the address is 1917 S Harbor City Boulevard in Melbourne, Florida.
The offering is specifically for an office condo unit, providing a defined space within the broader commercial real estate asset category.
Located in Brevard County, the address is 1917 S Harbor City Boulevard in Melbourne, Florida.
The offering is specifically for an office condo unit, providing a defined space within the broader commercial real estate asset category.
Key Highlights
- Office condo unit for sale in Brevard County, 1,624 SF
- Central air and electric heating
- Year built: 1959
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
$22,099
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
3.69%
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%
$441,980
$442.0K
Cap Rate 7%
$315,700
$315.7K
Cap Rate 9%
$245,544
$245.5K
Market Conditions
NOI Build-Up for 1,624 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
$35.1K $21.60/SF
− Vacancy
−$5.6K −$3.46/SF
EGI
$29.5K $18.14/SF
− OpEx
−$7.4K −$4.54/SF
NOI
$22.1K $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 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%
$441,980
Cap Rate 7%
$315,700
Cap Rate 9%
$245,544
Alternative Uses
Best Use
Office B
$315.7K
$276.2K – $368.3K
NOI $22,099 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.5K
$374.9K – $499.9K
NOI $29,992 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,729
Businesses Nearby
Explore this area
Business Placement
Demographics for 32901, FL
26,286
Population
13,241
Households
2
Avg Household Size
46
Median Age
31%
College-Educated
90%
High-School Grad
12.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$50,646
Median Household Income
$31,929
Median Earnings
$1,349
Median Rent
$244,500
Median Home Value
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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 units - Office condo unit for sale in Brevard County, sized at 1,624 square feet.
Where is this office units located?
The property is located at 1917 S Harbor City Boulevard 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: Office condo unit for sale in Brevard County, 1,624 SF; Central air and electric heating; Year built: 1959
