2261 Sarno Rd, Melbourne, FL 32935

Building Details

Year Built 1959 More

Construction concrete block More

Listing Agency: JM Real Estate

Listed By: Terry Winton · License FL SL3407890 Show Phone

Source: Viewfloridabeachhouses

Added: Jun 25 Changed: Nov 10 Last Checked: Nov 10 at 11:27AM

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Investment Insights

Based on property information with market context.

This 3,220-square-foot medical office property is currently vacant and was previously configured for dental office use. The building features concrete block construction with a stucco exterior and dates to 1959.

Located at 2261 Sarno Road in Melbourne, Florida, the property offers an existing medical-office setting for a future occupant or owner-user. Its current vacancy provides flexibility for evaluating the space and its prior dental-office configuration.

Key Highlights

• 3,220‑square‑foot medical office property
• Currently vacant
• Previously used as a dental office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,765

Cap Rate

9.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$915,300 $915.3K

Cap Rate 7%

$653,786 $653.8K

Cap Rate 9%

$508,500 $508.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,220 SF

Gross rent

$81.1K $25.20/SF

− Vacancy

−$4.9K −$1.51/SF

EGI

$76.3K $23.69/SF

− OpEx

−$30.5K −$9.48/SF

NOI

$45.8K $14.21/SF

Area

Brevard County, FL

Vacancy

6.00%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$915,300

Cap Rate 7%

$653,786

Cap Rate 9%

$508,500

Alternative Uses

Best Use

Healthcare Medical

$653.8K

$572.1K – $762.8K (±1% cap)

NOI $45,765 @ 7.0% cap · market cap 9.17%

Second Best

Office B

$628.5K

$549.9K – $733.2K (±1% cap)

NOI $43,992 @ 7.0% cap · market cap 8.82%

Theoretical Best

Office A

$939.0K

$821.6K – $1.10M (±1% cap)

NOI $65,727 @ 7.0% cap · market cap 13.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Dr. Carlos Medina, ... Dental Office Morales Karim DDS Dental Office Dr. Mahkameh Moini Medical Clinic

Suggested Use

Top Pick Parking Lot & Garage Auto Repair Shop Auto Parts Store (Bike/Boat/Book/etc) Store Barber Shop Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

706

Businesses Nearby

Balanced

Demand for This Use

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

Market

Average Price Trend$/SF for Medical Office Space in Melbourne, FL

$307 Jul

$241 Aug

$275 Sep

$242 Oct

Properties on Market for Medical Office Space in Melbourne

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Vacant medical office with concrete block construction and a stucco exterior.

Where is this medical office space located?

The property is located at 2261 Sarno Rd Melbourne, FL.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: 3,220‑square‑foot medical office property; Currently vacant; Previously used as a dental office