Second-Floor Office
For Sale
Contact for pricing
238 5th Avenue 3 868 Sf, Indialantic, FL 32903
Configured professional office suite with private workrooms, meeting space, staff amenities, and shared parking.
Property Size21,941 SF
Price / SF$0.23
Days on Market110
Property Features for 238 5th Avenue 3 868 Sf
General Information
Standard status
Active
Size
21,941 SF
Additional Details
Floor
2
Road Access
Yes
Office Units
1
Listing Agency:
The Ullian Realty Corporation
(321) 729-9900
Listed By:
Zachary Michael Ullian · License #3445627
(321) 750-3439
Source:
Startbrevardsearch
Added: Jul 12
Changed: Oct 26
Last Checked: Oct 28 at 9:02AM
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 The Ullian Realty Corporation
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,374 SF second-floor office unit at 244 5th Avenue includes six offices, a conference room, break area, and three restrooms. A suspended ceiling system and extensive windows provide the interior configuration described for the space.
The property fronts Fifth Avenue in Indialantic, a direct connection between Highway A1A, Riverside Drive, and the Melbourne Causeway. The site is positioned between the Atlantic Ocean and Indian River Lagoon, with an estimated traffic volume of 20,500 VPD on Fifth Avenue. Shared parking is available within the plaza, and surrounding employers include Indialantic Elementary, Hoover Middle School, and Village Market.
The property fronts Fifth Avenue in Indialantic, a direct connection between Highway A1A, Riverside Drive, and the Melbourne Causeway. The site is positioned between the Atlantic Ocean and Indian River Lagoon, with an estimated traffic volume of 20,500 VPD on Fifth Avenue. Shared parking is available within the plaza, and surrounding employers include Indialantic Elementary, Hoover Middle School, and Village Market.
Key Highlights
- 3,374 SF second‑floor office unit at 244 5th Avenue
- Six offices, one conference room, a break area, and 3 restrooms
- 45 common paved/striped parking spaces at the plaza
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$298,573
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,971,460
$6.0M
Cap Rate 7%
$4,265,329
$4.3M
Cap Rate 9%
$3,317,478
$3.3M
Market Conditions
NOI Build-Up for 21,941 SF
Gross rent
$473.9K $21.60/SF
− Vacancy
−$75.8K −$3.46/SF
EGI
$398.1K $18.14/SF
− OpEx
−$99.5K −$4.54/SF
NOI
$298.6K $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%
$5,971,460
Cap Rate 7%
$4,265,329
Cap Rate 9%
$3,317,478
Alternative Uses
Best Use
Office B
$4.27M
$3.73M – $4.98M
NOI $298,573 @ 7.0% cap · market cap 5,900.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.79M
$5.07M – $6.75M
NOI $405,206 @ 7.0% cap · market cap 8,008.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 32903, FL
13,880
Population
7,469
Households
1.9
Avg Household Size
52
Median Age
51%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
3,856
Density / Sq Mi
$101,549
Median Household Income
$55,718
Median Earnings
$1,700
Median Rent
$495,700
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 unit - Configured professional office suite with private workrooms, meeting space, staff amenities, and shared parking.
Where is this office unit located?
The property is located at 238 5th Avenue 3 868 Sf Indialantic, FL.
What are key features of this property?
This property features: 3,374 SF second‑floor office unit at 244 5th Avenue; Six offices, one conference room, a break area, and 3 restrooms; 45 common paved/striped parking spaces at the plaza
