CBS Office Building with
For Sale
$449,000
2814 S Harbor City Boulevard, Melbourne, FL 32901
CBS office building with newer roof, terrazzo flooring, and large open front room plus offices/storage.
Property Size1,400 SF
Price / SF$320.71
Days on Market40
Property Features for 2814 S Harbor City Boulevard
General Information
Standard status
Active
Size
1,400 SF
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$3,190
Amenities
terrazzo floors
vaulted ceiling/wood trim
Building Details
Year Built
1955
Stories
1
Construction
CBS
Listing Agency:
Mac Evoy Real Estate Co
(772) 925-4791
Listed By:
Carolyn E Mac Evoy · License #3149016
(772) 925-4791
Source:
Laerrealty
Added: Jul 5
Changed: Aug 8
Last Checked: Aug 12 at 3:34AM
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 Mac Evoy Real Estate Co
Investment Insights
Based on property information with market context.
This CBS office building totals about 1,400 square feet and is described as having a newer roof, terrazzo floors, and improved lighting. The interior includes a large open front room along with two separate office/storage areas, plus two bathrooms. The vaulted ceiling and wood trim are noted, and the building is enclosed with CBS walls. The rear includes a thick concrete pad, described as suitable for expansion.
The property is located on a thriving continuation of U.S. Highway 1 / S Harbor City Blvd with high traffic count and nearly 200 feet of highway frontage. Access is available from the highway or from an alley/Irvine Street behind the site. The property has plenty of side and rear parking and is completely fenced.
Additional site details include a concrete pad at the back of the building and a CBS wall enclosure, with the property also noted as located in an Opportunity Zone.
The property is located on a thriving continuation of U.S. Highway 1 / S Harbor City Blvd with high traffic count and nearly 200 feet of highway frontage. Access is available from the highway or from an alley/Irvine Street behind the site. The property has plenty of side and rear parking and is completely fenced.
Additional site details include a concrete pad at the back of the building and a CBS wall enclosure, with the property also noted as located in an Opportunity Zone.
Key Highlights
- 1,400 SF CBS office building built in 1955 with a newer roof
- Nearly 200 ft of highway frontage on US Highway 1 / S Harbor City Blvd
- Terrazzo floors, great lighting, and vaulted ceiling with wood trim
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
—
—
no second resolved use
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
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,729
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Office building - CBS office building with newer roof, terrazzo flooring, and large open front room plus offices/storage.
Where is this office building 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: 1,400 SF CBS office building built in 1955 with a newer roof; Nearly 200 ft of highway frontage on US Highway 1 / S Harbor City Blvd; Terrazzo floors, great lighting, and vaulted ceiling with wood trim
