Mixed-Use Property with Central
For Sale
$238,800
2165 SARNO Road, Melbourne, FL 32935
Commercial Sale, MELBOURNE, FL
Property Size1,763 SF
Lot Size0.15 Acres
Price / SF$135.45
Days on Market9
Property Features for 2165 SARNO Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RP
Subdivision
BOWE GARDENS SEC M 1
Directions
From US-1, head west on Sarno Rd. Continue on Sarno Rd to the property. The property is located on the north side of Sarno Rd.
Standard status
Active
APN
27 3719-78-C-9
Size
1,763 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BOWE GARDENS SEC M 1 LOTS 9 TO 12 INCL, BLK C
Tax Annual Amount
8128
Legal Description
BOWE GARDENS SEC M 1 LOTS 9 TO 12 INCL, BLK C
Utilities
Cooling system
Central Air
Building Details
Year built
1958
Floors in Building
1
Building materials
Stucco, Frame
Listing Agency:
PEOPLE'S CHOICE REALTY SVC LLC
(813) 933-0677
Listed By:
Anh Nguyen · License #3433672
(754) 317-5578
Added: Aug 27
Changed: Sep 2
Last Checked: Sep 4 at 4:06AM
MLS# TB8544806
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains 1,763 square feet on a 0.15-acre site. Built in 1958, the building features stucco and frame construction with central air. The property is offered as-is and may require repairs, updates, or other improvements.
Zoned RP, the site is located in Melbourne near major roads, shopping, dining, and everyday amenities. Its mixed-use classification supports consideration of the existing building and property configuration for a range of commercial applications, subject to applicable requirements.
Zoned RP, the site is located in Melbourne near major roads, shopping, dining, and everyday amenities. Its mixed-use classification supports consideration of the existing building and property configuration for a range of commercial applications, subject to applicable requirements.
Key Highlights
- 1,763‑square‑foot mixed‑use property
- 0.15‑acre site in Melbourne, FL
- RP zoning
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
$20,455
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
8.57%
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%
$409,100
$409.1K
Cap Rate 7%
$292,214
$292.2K
Cap Rate 9%
$227,278
$227.3K
Market Conditions
NOI Build-Up for 1,763 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
$36.0K $20.40/SF
− Vacancy
−$3.2K −$1.84/SF
EGI
$32.7K $18.56/SF
− OpEx
−$12.3K −$6.96/SF
NOI
$20.5K $11.60/SF
Area
Brevard County, FL
Vacancy
9.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
37.50%
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%
$409,100
Cap Rate 7%
$292,214
Cap Rate 9%
$227,278
Alternative Uses
Best Use
Mixed Use
$292.2K
$255.7K – $340.9K
NOI $20,455 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$465.1K
$407.0K – $542.7K
NOI $32,559 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
706
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - RP-zoned commercial property offered in its existing as-is condition, with central air and mixed-use potential.
Where is this mixed-use property located?
The property is located at 2165 SARNO Road Melbourne, FL.
What is the asking price?
The asking price for this property is $238,800.
What are key features of this property?
This property features: 1,763‑square‑foot mixed‑use property; 0.15‑acre site in Melbourne, FL; RP zoning
