End-Unit Retail
240 S Wickham Road, West Melbourne, FL 32904
For Sale
Contact for pricing
The 1984-built property is being renovated and is located half a mile from Melbourne Regional Hospital.
Property Size5,400 SF
Price / SF$0.36
Days on Market287
Property Features for 240 S Wickham Road
General Information
Standard status
Size
Property subtype
Additional Details
End Cap
Building Details
Year Built
Listing Agency:
Rahal Real Estate LLC
Listed By:
Nicholas N Rahal · License #388785
(321) 631-0511
Source:
Mccoyfreeman
Added: Jan 27
Changed: Nov 8
Last Checked: Nov 8 at 3:17PM
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 Rahal Real Estate LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,400-square-foot retail property is an end unit in a building constructed in 1984. Renovation and updates are underway.
The property is located 0.5 mile from Melbourne Regional Hospital, at 240 S Wickham Road in West Melbourne, Florida.
The property is located 0.5 mile from Melbourne Regional Hospital, at 240 S Wickham Road in West Melbourne, Florida.
Key Highlights
- 5,400‑square‑foot retail property
- End‑unit configuration
- Renovation and updates are underway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,257
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,245,140
$1.2M
Cap Rate 7%
$889,386
$889.4K
Cap Rate 9%
$691,744
$691.7K
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$97.2K $18.00/SF
− Vacancy
−$8.3K −$1.53/SF
EGI
$88.9K $16.47/SF
− OpEx
−$26.7K −$4.94/SF
NOI
$62.3K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,245,140
Cap Rate 7%
$889,386
Cap Rate 9%
$691,744
Alternative Uses
Best Use
Retail
$889.4K
$778.2K – $1.04M
NOI $62,257 @ 7.0% cap · market cap 3,192.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,727 @ 7.0% cap · market cap 5,114.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
163k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 48%
Shops & Services 27%
Apparel 11%
Hotels & Casinos 6%
Sam's Club
Superstores
78,113 visits/mo
0.5 miles
RaceTrac
Shops & Services
43,602 visits/mo
0.5 miles
Goodwill
Apparel
17,183 visits/mo
0.4 miles
Dunkin' Donuts
Dining
8,843 visits/mo
0.5 miles
Rooms To Go Furniture Store
Home Improvements & Furnishings
5,631 visits/mo
0.5 miles
Demographics for 32904, FL
35,399
Population
15,117
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
217.1 sq mi
ZIP Area
163
Density / Sq Mi
$86,943
Median Household Income
$42,451
Median Earnings
$1,763
Median Rent
$334,400
Median Home Value
Market
Average Price Trend$/SF for Retail space in Brevard County, FL
Properties on Market for Retail space in Brevard County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The 1984-built property is being renovated and is located half a mile from Melbourne Regional Hospital.
Where is this retail space located?
The property is located at 240 S Wickham Road West Melbourne, FL.
What are key features of this property?
This property features: 5,400‑square‑foot retail property; End‑unit configuration; Renovation and updates are underway
