Second-Floor Office
For Sale
$259,900
2955 Pineda Plaza Way, Melbourne, FL 32940
Configured with reception areas, a private office, waiting space, and two private restrooms.
Property Size1,283 SF
Price / SF$202.57
Days on Market19
Property Features for 2955 Pineda Plaza Way
General Information
Standard status
Active
Size
1,283 SF
Property subtype
Office
Occupancy
100%
Additional Details
Floor
2
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,793
Amenities
Electric
Vinyl, Carpet
Parking.
Lot.
Other.
Building Details
Year Built
1986
Tenancy
Single
Owner Occupied
No
Listing Agency:
Hart To Hart Real Estate, Inc.
(321) 242-2526
Listed By:
Richard Hart · License #590871
(321) 242-2526
Source:
Xome
Added: Jul 25
Changed: Aug 12
Last Checked: Aug 12 at 3:55AM
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 Hart To Hart Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1,283-square-foot office unit occupies the second floor of Pineda Plaza at Suntree. The layout includes a private waiting area, reception window, reception work area, private office, and two private restrooms. Interior finishes include vinyl and carpet, with electric service and on-site parking.
The property is located at 2955 Pineda Plaza Way in Melbourne, with access connected to Pineda Causeway and a signalized connection at Wickham Road. Signage locations are available along Pineda Causeway, Wickham Road, and Pineda Plaza Way. The unit is currently occupied by a tenant on a month-to-month basis.
The property is located at 2955 Pineda Plaza Way in Melbourne, with access connected to Pineda Causeway and a signalized connection at Wickham Road. Signage locations are available along Pineda Causeway, Wickham Road, and Pineda Plaza Way. The unit is currently occupied by a tenant on a month-to-month basis.
Key Highlights
- 1,283 SF second‑floor office unit
- Private waiting area with reception window and work area
- Private office and 2 private restrooms
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
$17,459
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
6.72%
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%
$349,180
$349.2K
Cap Rate 7%
$249,414
$249.4K
Cap Rate 9%
$193,989
$194.0K
Market Conditions
NOI Build-Up for 1,283 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
$27.7K $21.60/SF
− Vacancy
−$4.4K −$3.46/SF
EGI
$23.3K $18.14/SF
− OpEx
−$5.8K −$4.54/SF
NOI
$17.5K $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%
$349,180
Cap Rate 7%
$249,414
Cap Rate 9%
$193,989
Alternative Uses
Best Use
Office B
$249.4K
$218.2K – $291.0K
NOI $17,459 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$338.5K
$296.2K – $394.9K
NOI $23,694 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office units - Configured with reception areas, a private office, waiting space, and two private restrooms.
Where is this office units located?
The property is located at 2955 Pineda Plaza Way Melbourne, FL.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,283 SF second‑floor office unit; Private waiting area with reception window and work area; Private office and 2 private restrooms
