Office Unit with Private
For Sale
$550,000
2020 W Eau Gallie Blvd Ste 104 & 105, Melbourne, FL 32935
Condo office layout includes reception, open work space, conference room, kitchenette, and two bathrooms.
Property Size2,617 SF
Price / SF$210.16
Days on Market159
Property Features for 2020 W Eau Gallie Blvd Ste 104 & 105
General Information
Standard status
Active
Size
2,617 SF
Class
B
Property subtype
Office
Additional Details
Office Units
1
Building Details
Building Size
2,617 SF
Year Built
2014
Buildings
1
Listing Agency:
Lightle Beckner Robison Inc
(321) 863-3226
Listed By:
Rob Beckner, SIOR · License #FL #SL707053
(321) 863-3226
Source:
Teamlbr
Added: Mar 25
Changed: Aug 29
Last Checked: Aug 30 at 1:40PM
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 Lightle Beckner Robison Inc
Investment Insights
Based on property information with market context.
This 2,617-square-foot office condominium was built in 2014 and provides a practical mix of private and shared work areas. The interior includes a reception area, eight private offices, an open work area, a conference room, a kitchenette, two bathrooms, and dedicated storage.
Located at 2020 W Eau Gallie Blvd Ste 104 in Melbourne, the property is near businesses, cafes, and parks. Downtown Melbourne, Melbourne International Airport, and the Atlantic Ocean are also identified as nearby destinations, placing the office within an established city setting.
Located at 2020 W Eau Gallie Blvd Ste 104 in Melbourne, the property is near businesses, cafes, and parks. Downtown Melbourne, Melbourne International Airport, and the Atlantic Ocean are also identified as nearby destinations, placing the office within an established city setting.
Key Highlights
- 2,617 SF office condominium
- Built in 2014
- Eight private offices plus open work area
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
$35,612
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
6.47%
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%
$712,240
$712.2K
Cap Rate 7%
$508,743
$508.7K
Cap Rate 9%
$395,689
$395.7K
Market Conditions
NOI Build-Up for 2,617 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
$56.5K $21.60/SF
− Vacancy
−$9.0K −$3.46/SF
EGI
$47.5K $18.14/SF
− OpEx
−$11.9K −$4.54/SF
NOI
$35.6K $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%
$712,240
Cap Rate 7%
$508,743
Cap Rate 9%
$395,689
Alternative Uses
Best Use
Office B
$508.7K
$445.2K – $593.5K
NOI $35,612 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.4K
$604.1K – $805.5K
NOI $48,331 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,061
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Condo office layout includes reception, open work space, conference room, kitchenette, and two bathrooms.
Where is this office units located?
The property is located at 2020 W Eau Gallie Blvd Ste 104 & 105 Melbourne, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,617 SF office condominium; Built in 2014; Eight private offices plus open work area
