Office Building with Highway
For Sale
$449,000
2814 S Harbor City Boulevard, Melbourne, FL 32901
SINGLE_FAMILY - Melbourne, FL
Property Size1,400 SF
Lot Size0.50 Acres
Price / SF$320.71
Days on Market213
Property Features for 2814 S Harbor City Boulevard
General Information
Property type
Residential
Property subtype
Retail
Zoning
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
US Highway 1 northbound -- becomes S. Harbor City Boulevard - building on the left.
Subdivision
6371 - Brevard County (E of IR)
Standard status
Active
APN
28371112k27
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
RIVERVIEW HEIGHTS SUBD LOTS 7,8,9 E OF RR EX HWY R/W BLK K 2
Tax Annual Amount
3190
Legal Description
RIVERVIEW HEIGHTS SUBD LOTS 7,8,9 E OF RR EX HWY R/W BLK K 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Number of units
1
Flooring type
Terrazzo
Listing Agency:
Mac Evoy Real Estate Co
(772) 589-0400
Listed By:
Carolyn E Mac Evoy · License #3149016
(772) 925-4791
Added: Jan 8
Changed: Jul 22
Last Checked: Aug 9 at 9:06PM
MLS# R11152547
Copyright © 2026 BeachesMLS. 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.
This CBS office building offers a large open front room plus two separate office/storage areas. Interior features include terrazzo floors, great lighting, and a vaulted ceiling with wood trim. The building has a newer roof and a fenced exterior layout. At the rear, there is a thick concrete pad that could support expansion, with a concrete block wall enclosure already in place.
The property is located on a thriving continuation of US Highway 1 / S Harbor City Blvd and offers nearly 200 feet of highway frontage. Access is available from the highway or from an alley/Irwin Street just behind the building, and the site includes side and rear parking. The property is located in an Opportunity Zone and includes a completely fenced perimeter.
The property is located on a thriving continuation of US Highway 1 / S Harbor City Blvd and offers nearly 200 feet of highway frontage. Access is available from the highway or from an alley/Irwin Street just behind the building, and the site includes side and rear parking. The property is located in an Opportunity Zone and includes a completely fenced perimeter.
Key Highlights
- High‑traffic highway frontage (nearly 200 feet) on US Highway 1/S Harbor City Blvd.
- Located in an up‑and‑coming Opportunity Zone.
- 1400 sq ft CBS building with newer roof.
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
$19,051
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
4.24%
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%
$381,020
$381.0K
Cap Rate 7%
$272,157
$272.2K
Cap Rate 9%
$211,678
$211.7K
Market Conditions
NOI Build-Up for 1,400 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
$30.2K $21.60/SF
− Vacancy
−$4.8K −$3.46/SF
EGI
$25.4K $18.14/SF
− OpEx
−$6.4K −$4.54/SF
NOI
$19.1K $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 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%
$381,020
Cap Rate 7%
$272,157
Cap Rate 9%
$211,678
Alternative Uses
Best Use
Office B
$272.2K
$238.1K – $317.5K
NOI $19,051 @ 7.0% cap · market cap 4.24%
Second Best
Retail
$230.6K
$201.8K – $269.0K
NOI $16,141 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$369.4K
$323.2K – $430.9K
NOI $25,855 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,729
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32901, FL
26,286
Population
13,241
Households
2
Avg Household Size
46
Median Age
31%
College-Educated
90%
High-School Grad
12.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$50,646
Median Household Income
$31,929
Median Earnings
$1,349
Median Rent
$244,500
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.
Similar Off Market Nearby
- Broom's Florist — 2542 S Harbor City Blvd, Melbourne, FL 32901
Frequently Asked Questions
What type of property is this?
Storefront property - CBS office building with newer roof, terrazzo floors, and large open front room, with highway access and ample fenced parking.
Where is this storefront property located?
The property is located at 2814 S Harbor City Boulevard Melbourne, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: High‑traffic highway frontage (nearly 200 feet) on US Highway 1/S Harbor City Blvd.; Located in an up‑and‑coming Opportunity Zone.; 1400 sq ft CBS building with newer roof.
