Mixed-Use Property for
New
For Sale
$168,000
2189 Sarno Road, Melbourne, FL 32935
Existing commercial space offers a flexible starting point for remodeling under applicable zoning and local requirements.
Property Size768 SF
Price / SF$218.75
Days on Market5
Property Features for 2189 Sarno Road
General Information
Standard status
Active
Size
768 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$2,000
Amenities
3
Other.
Building Details
Year Built
1958
Listing Agency:
(321) 877-2902
Listed By:
Blue Marlin Real Estate
(321) 271-4529
Source:
Xome
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 5 at 4:58AM
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 Blue Marlin Real Estate
Investment Insights
Based on property information with market context.
This 768-square-foot mixed-use property was built in 1958 and is positioned for remodeling and customization. The existing space can be reconfigured for residential units, professional office use, rental use, or resale, subject to applicable zoning and local requirements.
The property is located at 2189 Sarno Road in Melbourne, with directions from US1 west on Sarno Rd. The properties were separated from a former shared Tax ID, and each now has its own individual account. Property dimensions and other details should be independently verified by the buyer.
The property is located at 2189 Sarno Road in Melbourne, with directions from US1 west on Sarno Rd. The properties were separated from a former shared Tax ID, and each now has its own individual account. Property dimensions and other details should be independently verified by the buyer.
Key Highlights
- 768‑square‑foot mixed‑use property
- Built in 1958
- Remodeling and customization opportunity
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
$8,911
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
5.30%
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%
$178,220
$178.2K
Cap Rate 7%
$127,300
$127.3K
Cap Rate 9%
$99,011
$99.0K
Market Conditions
NOI Build-Up for 768 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
$15.7K $20.40/SF
− Vacancy
−$1.4K −$1.84/SF
EGI
$14.3K $18.56/SF
− OpEx
−$5.3K −$6.96/SF
NOI
$8.9K $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%
$178,220
Cap Rate 7%
$127,300
Cap Rate 9%
$99,011
Alternative Uses
Best Use
Mixed Use
$127.3K
$111.4K – $148.5K
NOI $8,911 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$202.6K
$177.3K – $236.4K
NOI $14,183 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing commercial space offers a flexible starting point for remodeling under applicable zoning and local requirements.
Where is this mixed-use property located?
The property is located at 2189 Sarno Road Melbourne, FL.
What is the asking price?
The asking price for this property is $168,000.
What are key features of this property?
This property features: 768‑square‑foot mixed‑use property; Built in 1958; Remodeling and customization opportunity
