Concrete Block Office
For Sale
$999,000
2101 Grant Place Melbourne, Melbourne, FL 32901
Concrete block office building with private parking and direct street access in downtown Melbourne.
Property Size3,066 SF
Lot Size0.39 Acres
Price / SF$325.83
Days on Market48
Property Features for 2101 Grant Place Melbourne
General Information
Standard status
Active
Size
3,066 SF
Lot size
0.39 Acres
Zoning
C-3
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,478
Amenities
Other
true
2
Building & Land
Few Trees
Public
0.39
Parking Lot
City Street
3066
Building Details
Building Size
3,066 SF
Year Built
1962
Listing Agency:
Curri Kirschner Real Estate Group
(407) 890-1354
Listed By:
Lisa Mahjoub · License #3296024
(407) 890-1354
Source:
Therealestatecollection
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 23 at 8:14AM
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 Curri Kirschner Real Estate Group
Investment Insights
Based on property information with market context.
This concrete block office building sits on 0.39 acres and includes a private parking lot with direct street access. The property is currently suited to office use, with the benefit of having been owner-operated as a CPA practice for more than 60 years. The building needs updating, though the roof is described as solid and the overall structure as sound.
Located in Melbourne’s Central Business District, the property falls under C-3 zoning. The listed use range extends beyond office to a broader commercial and civic core, with the remarks indicating professional services, medical, financial, retail, and food service among the options.
For buyers considering a downtown Melbourne site with parking and C-3 zoning, this offering presents a straightforward improvement-and-carry opportunity centered on a functional concrete block office facility.
Located in Melbourne’s Central Business District, the property falls under C-3 zoning. The listed use range extends beyond office to a broader commercial and civic core, with the remarks indicating professional services, medical, financial, retail, and food service among the options.
For buyers considering a downtown Melbourne site with parking and C-3 zoning, this offering presents a straightforward improvement-and-carry opportunity centered on a functional concrete block office facility.
Key Highlights
- Concrete block office building in downtown Melbourne’s Central Business District
- 0.39‑acre property with a private parking lot and direct street access
- C‑3 zoning with a wide‑ranging use list beyond office (includes professional services, medical, financial, retail, and food service)
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
$41,722
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
4.18%
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%
$834,440
$834.4K
Cap Rate 7%
$596,029
$596.0K
Cap Rate 9%
$463,578
$463.6K
Market Conditions
NOI Build-Up for 3,066 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
$66.2K $21.60/SF
− Vacancy
−$10.6K −$3.46/SF
EGI
$55.6K $18.14/SF
− OpEx
−$13.9K −$4.54/SF
NOI
$41.7K $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%
$834,440
Cap Rate 7%
$596,029
Cap Rate 9%
$463,578
Alternative Uses
Best Use
Office B
$596.0K
$521.5K – $695.4K
NOI $41,722 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$808.9K
$707.8K – $943.7K
NOI $56,623 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,077
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
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 building - Concrete block office building with private parking and direct street access in downtown Melbourne.
Where is this office building located?
The property is located at 2101 Grant Place Melbourne Melbourne, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Concrete block office building in downtown Melbourne’s Central Business District; 0.39‑acre property with a private parking lot and direct street access; C‑3 zoning with a wide‑ranging use list beyond office (includes professional services, medical, financial, retail, and food service)
