Seven-Unit Office
For Sale
$1,350,000
21 W Fee Ave, Melbourne, FL 32901
C2-zoned property with one remaining office space and access to major roadways.
Property Size7,078 SF
Price / SF$190.73
Days on Market239
Property Features for 21 W Fee Ave
General Information
Standard status
Active
Size
7,078 SF
Class
C
Property subtype
Multi Tenant Office
Zoning
C2
Additional Details
Highway Access
Yes
Office Units
7
Building Details
Building Size
7,078 SF
Year Built
1984
Buildings
1
Tenancy
Multi
Properties For Sale
at 21 W Fee Ave
Unit G
Size
855 SF
Lease Type
NNN
Listing Agency:
Lightle Beckner Robison, Inc
Listed By:
Jeffery Robison · License ##BK3113472
(321) 722-0707
Source:
Thebrokerlist
Added: Feb 18
Changed: Sep 10
Last Checked: Oct 14 at 7:39PM
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
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Investment Insights
Based on property information with market context.
This 7,078-square-foot office building was constructed in 1984 and is configured with seven units within C2 zoning. One space remains available, while the property also provides ample parking for occupants and visitors.
The building is positioned near major roadways, including US-1, with dining and retail options nearby. Historic downtown Melbourne and Melbourne International Airport are also within the surrounding area, adding established commercial and civic context to the property.
The building is positioned near major roadways, including US-1, with dining and retail options nearby. Historic downtown Melbourne and Melbourne International Airport are also within the surrounding area, adding established commercial and civic context to the property.
Key Highlights
- 7,078 SF office building constructed in 1984
- Seven‑unit configuration within C2 zoning
- One remaining office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,317
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,926,340
$1.9M
Cap Rate 7%
$1,375,957
$1.4M
Cap Rate 9%
$1,070,189
$1.1M
Market Conditions
NOI Build-Up for 7,078 SF
Gross rent
$152.9K $21.60/SF
− Vacancy
−$24.5K −$3.46/SF
EGI
$128.4K $18.14/SF
− OpEx
−$32.1K −$4.54/SF
NOI
$96.3K $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%
$1,926,340
Cap Rate 7%
$1,375,957
Cap Rate 9%
$1,070,189
Alternative Uses
Best Use
Office B
$1.38M
$1.20M – $1.61M
NOI $96,317 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,717 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,763
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
Frequently Asked Questions
What type of property is this?
Office building - C2-zoned property with one remaining office space and access to major roadways.
Where is this office building located?
The property is located at 21 W Fee Ave Melbourne, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 7,078 SF office building constructed in 1984; Seven‑unit configuration within C2 zoning; One remaining office space
