Two-Story Flex Space with Warehouse
For Sale
$2,900,000
Pending
2725 Center Place, Melbourne, FL 32940
COMMERCIAL - Melbourne, FL
Property Size20,187 SF
Lot Size2.06 Acres
Days on Market128
Property Features for 2725 Center Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 7, Bathroom 8, Bathroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 6
Parking features
Parking Lot
Security features
Security System
Subdivision
Wickham Road Business Center S Phase 1
Lot features
Cul-De-Sac, Dead End Street
Directions
From N Wickham Rd, head East onto Business Center Blvd, Right onto Center PL, 2725 Center PL is on the Right.
Standard status
Pending
APN
26-37-30-50-00000.0-0005.00
Size
20,187 SF
Lot size
2.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WICKHAM ROAD BUSINESS CENTER SOUTH PHASE 1 LOT 5
Tax Annual Amount
31540
Legal Description
WICKHAM ROAD BUSINESS CENTER SOUTH PHASE 1 LOT 5
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
reception lobby
conference room
break room
Building Details
Year built
1986
Floors in Building
2
Flooring type
Vinyl, Carpet, Tile
Building materials
Stucco
Roof type
Rolled Hot Mop
Listing Agency:
Realty World Curri Properties
(321) 259-1003
Listed By:
John D Curri · License #3105835
(321) 961-4487
Added: Apr 20
Changed: Aug 4
Last Checked: Aug 25 at 6:06AM
MLS# 1075200
Copyright © 2026 Space Coast Association of Realtors. 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.
Two-story flex space totaling 20,187 SF on a 2.06-acre lot, built in 1986 with stucco construction. The property is currently configured with professional office space and a rear warehouse area, offering multiple occupancy options. Common areas include a reception lobby, conference room, break room, and restrooms. Central heating and central air support office and warehouse use, with a rolled hot mop roof and vinyl, tile, and carpet flooring.
The first floor includes a 3,868 SF tenant space, while the remaining office and warehouse space is available. Warehouse features include two dock-high bays, three roll-up doors (14' x 10'), approximately 400 SF of mezzanine storage, and about 800 SF of air-conditioned workspace with 20'-22' clear height ceilings. Outside, there is a +/-1,350 SF fenced patio and access to a +/-16,000 SF gated yard, plus a parking lot with +/-55 spaces.
Located at 2725 Center Place in Melbourne, FL 32940, in the Pineda/Wickham Rd corridor with easy access to I-95 and US-1.
The first floor includes a 3,868 SF tenant space, while the remaining office and warehouse space is available. Warehouse features include two dock-high bays, three roll-up doors (14' x 10'), approximately 400 SF of mezzanine storage, and about 800 SF of air-conditioned workspace with 20'-22' clear height ceilings. Outside, there is a +/-1,350 SF fenced patio and access to a +/-16,000 SF gated yard, plus a parking lot with +/-55 spaces.
Located at 2725 Center Place in Melbourne, FL 32940, in the Pineda/Wickham Rd corridor with easy access to I-95 and US-1.
Key Highlights
- 20,187 SF two‑story flex space on 2.06 acres, built in 1986
- Light industrial zoning with office‑front/warehouse‑rear configuration and multiple occupancy options
- Warehouse has two dock‑high bays plus three roll‑up doors (14' x 10')
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
$206,113
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
7.11%
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%
$4,122,260
$4.1M
Cap Rate 7%
$2,944,471
$2.9M
Cap Rate 9%
$2,290,144
$2.3M
Market Conditions
NOI Build-Up for 20,187 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
$339.1K $16.80/SF
− Vacancy
−$22.0K −$1.09/SF
EGI
$317.1K $15.71/SF
− OpEx
−$111.0K −$5.50/SF
NOI
$206.1K $10.21/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$4,122,260
Cap Rate 7%
$2,944,471
Cap Rate 9%
$2,290,144
Alternative Uses
Best Use
Office B
$3.92M
$3.43M – $4.58M
NOI $274,705 @ 7.0% cap · market cap 9.47%
Second Best
Flex RnD
$2.94M
$2.58M – $3.44M
NOI $206,113 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$5.33M
$4.66M – $6.21M
NOI $372,814 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
2
Dock-high doors
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32940, FL
44,869
Population
21,433
Households
2.1
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
57.3 sq mi
ZIP Area
783
Density / Sq Mi
$106,511
Median Household Income
$56,072
Median Earnings
$1,904
Median Rent
$444,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex building with light industrial zoning, rear warehouse and office setup, dock-high bays, and gated yard access.
Where is this flex space located?
The property is located at 2725 Center Place Melbourne, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 20,187 SF two‑story flex space on 2.06 acres, built in 1986; Light industrial zoning with office‑front/warehouse‑rear configuration and multiple occupancy options; Warehouse has two dock‑high bays plus three roll‑up doors (14' x 10')
