Two-Unit Second Floor
For Sale
$585,000
209-2955 Pineda Plaza Way, Melbourne, FL 32940
Second floor office suites 209 and 210 offer a reception, private offices, breakroom, and two restrooms.
Property Size1,839 SF
Price / SF$318.11
Days on Market148
Property Features for 209-2955 Pineda Plaza Way
General Information
Standard status
Active
Size
1,839 SF
Taxes and HOA fees
Annual Taxes
$2,290
Listing Agency:
Relentless Real Estate Co.
Listed By:
Burlew Team
(321) 302-0763
Source:
Exprealty
Added: Jun 11
Changed: Nov 3
Last Checked: Nov 4 at 3:50PM
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 Relentless Real Estate Co.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Second floor office units #209 and #210 are available together as a combined 1,839-square-foot space, or they can be separated. An interior door connects the two units and can be filled in if two distinct suites are preferred. The layout includes a reception area, eight private offices, a breakroom, and two restrooms.
The property provides lighted parking and multiple good sign locations, with easy access directly off Pineda Causeway and Wickham Road.
The overall configuration supports a traditional office environment, with a reception entry leading to a series of private offices, plus shared amenities including a breakroom and restrooms.
The property provides lighted parking and multiple good sign locations, with easy access directly off Pineda Causeway and Wickham Road.
The overall configuration supports a traditional office environment, with a reception entry leading to a series of private offices, plus shared amenities including a breakroom and restrooms.
Key Highlights
- Two second‑floor office suites: #209 (890 SF) and #210 (949 SF) totaling 1,839 SF
- Both suites share an interior door that can be filled in to create two separate units if desired
- Suite layout includes a reception area, eight (8) private offices, breakroom, and two (2) restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,025
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,500
$500.5K
Cap Rate 7%
$357,500
$357.5K
Cap Rate 9%
$278,056
$278.1K
Market Conditions
NOI Build-Up for 1,839 SF
Gross rent
$39.7K $21.60/SF
− Vacancy
−$6.4K −$3.46/SF
EGI
$33.4K $18.14/SF
− OpEx
−$8.3K −$4.54/SF
NOI
$25.0K $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%
$500,500
Cap Rate 7%
$357,500
Cap Rate 9%
$278,056
Alternative Uses
Best Use
Office B
$357.5K
$312.8K – $417.1K
NOI $25,025 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$485.2K
$424.5K – $566.1K
NOI $33,963 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 32940, FL
44,869
Population
21,433
Households
2.1
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
57.3 sq mi
ZIP Area
783
Density / Sq Mi
$106,511
Median Household Income
$56,072
Median Earnings
$1,904
Median Rent
$444,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Second floor office suites 209 and 210 offer a reception, private offices, breakroom, and two restrooms.
Where is this office unit located?
The property is located at 209-2955 Pineda Plaza Way Melbourne, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two second‑floor office suites: #209 (890 SF) and #210 (949 SF) totaling 1,839 SF; Both suites share an interior door that can be filled in to create two separate units if desired; Suite layout includes a reception area, eight (8) private offices, breakroom, and two (2) restrooms
