Remodeled Flex Warehouse
For Sale
$3,900,000
2015 Waverly Place Melbourne, Melbourne, FL 32901
Class-A flex property with separated showrooms, offices, and warehouse space plus a loading dock and dual street access.
Property Size13,765 SF
Lot Size0.77 Acres
Price / SF$283.33
Days on Market114
Property Features for 2015 Waverly Place Melbourne
General Information
Standard status
Active
Size
13,765 SF
Class
A
Lot size
0.77 Acres
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$26,098
Amenities
Carpet,Tile
true
4
2
Other
Building & Land
Sprinklers In Front
Public
0.77
false
Additional Parking,Parking Lot
City Street
13765
Building Details
Building Size
13,765 SF
Year Built
1953
Year Renovated
2016
Stories
2
Listed By:
Anna Hunter
(407) 656-7814
Source:
Therealestatecollection
Added: Jul 7
Changed: Oct 26
Last Checked: Oct 7 at 9:36AM
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 Anna Hunter
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Investment Insights
Based on property information with market context.
This extensively remodeled commercial building (remodeled in 2016) provides a flexible mix of showroom, office, kitchen, and warehouse areas. The interior layout includes thoughtfully separated showroom and office space, supported by a fully equipped kitchen for day-to-day operations. Improvements include new electrical systems, A/C units, hurricane-impact windows and doors, and premium fixtures and finishes throughout, reflecting a maintained, turn-ready condition. A convenient loading dock supports deliveries and product movement to the warehouse portion of the building.
The property is positioned in the heart of Downtown Melbourne’s business district and occupies a 0.77-acre lot spanning a full city block. It offers dual access from Waverly Place and Vernon Place, which can help streamline site circulation for employees, customers, and deliveries. The site also provides abundant on-site parking, an important functional consideration in a dense downtown setting.
For buyers or operators seeking a single building that can support both customer-facing showroom activity and back-of-house warehousing, this configuration is practical. The combination of separated work zones, on-site office space, and loading capabilities may fit a range of flex and distribution uses, while the sale being real estate only provides direct ownership of the improvements and site.
The property is positioned in the heart of Downtown Melbourne’s business district and occupies a 0.77-acre lot spanning a full city block. It offers dual access from Waverly Place and Vernon Place, which can help streamline site circulation for employees, customers, and deliveries. The site also provides abundant on-site parking, an important functional consideration in a dense downtown setting.
For buyers or operators seeking a single building that can support both customer-facing showroom activity and back-of-house warehousing, this configuration is practical. The combination of separated work zones, on-site office space, and loading capabilities may fit a range of flex and distribution uses, while the sale being real estate only provides direct ownership of the improvements and site.
Key Highlights
- 13,765 SF commercial building on a 0.77‑acre lot (full city block) with two‑story layout
- Extensively remodeled in 2016 with new electrical systems and A/C units
- Hurricane‑impact windows and doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$187,314
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,746,280
$3.7M
Cap Rate 7%
$2,675,914
$2.7M
Cap Rate 9%
$2,081,267
$2.1M
Market Conditions
NOI Build-Up for 13,765 SF
Gross rent
$297.3K $21.60/SF
− Vacancy
−$47.6K −$3.46/SF
EGI
$249.8K $18.14/SF
− OpEx
−$62.4K −$4.54/SF
NOI
$187.3K $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%
$3,746,280
Cap Rate 7%
$2,675,914
Cap Rate 9%
$2,081,267
Alternative Uses
Best Use
Office B
$2.68M
$2.34M – $3.12M
NOI $187,314 @ 7.0% cap · market cap 4.80%
Second Best
Retail
$2.27M
$1.98M – $2.64M
NOI $158,697 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$3.63M
$3.18M – $4.24M
NOI $254,212 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,950
Businesses Nearby
Under-served
Demand for This Use
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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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Soul Sushi 9 (Food Truck) — Melbourne, FL 32901
Frequently Asked Questions
What type of property is this?
Flex space - Class-A flex property with separated showrooms, offices, and warehouse space plus a loading dock and dual street access.
Where is this flex space located?
The property is located at 2015 Waverly Place Melbourne Melbourne, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 13,765 SF commercial building on a 0.77‑acre lot (full city block) with two‑story layout; Extensively remodeled in 2016 with new electrical systems and A/C units; Hurricane‑impact windows and doors
