Connected Two-Unit Office
For Sale
$585,000
2955 Pineda Plaza Way 209, Melbourne, FL 32940
Second-floor office space with flexible separation, private offices, parking, and access from Pineda Causeway and Wickham Road.
Property Size1,839 SF
Price / SF$318.11
Days on Market53
Property Features for 2955 Pineda Plaza Way 209
General Information
Standard status
Active
Size
1,839 SF
Additional Details
Floor
2
Road Access
Yes
Office Units
2
Building Details
Buildings
1
Listing Agency:
Relentless Real Estate Co.
(321) 302-0763
Listed By:
Burlew Team
Source:
Startbrevardsearch
Added: Aug 26
Changed: Oct 6
Last Checked: Oct 16 at 9:00AM
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 Relentless Real Estate Co.
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Investment Insights
Based on property information with market context.
This second-floor office offering combines Units 209 and 210 for a total of 1,839 square feet. An interior connection joins the suites, while the layout can be reconfigured into two separate units by filling the connecting doorway. The existing plan includes a reception area, eight private offices, a breakroom, and two restrooms.
Lighted parking and available sign locations support daily business operations. The property is accessed directly from Pineda Causeway and Wickham Road, providing convenient connectivity to both corridors.
Lighted parking and available sign locations support daily business operations. The property is accessed directly from Pineda Causeway and Wickham Road, providing convenient connectivity to both corridors.
Key Highlights
- Two connected second‑floor units totaling 1,839 square feet
- Units 209 and 210 measure 890 and 949 square feet, respectively
- Interior connection can be filled to create two separate units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,025
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,500
$500.5K
Cap Rate 7%
$357,500
$357.5K
Cap Rate 9%
$278,056
$278.1K
Market Conditions
NOI Build-Up for 1,839 SF
Gross rent
$39.7K $21.60/SF
− Vacancy
−$6.4K −$3.46/SF
EGI
$33.4K $18.14/SF
− OpEx
−$8.3K −$4.54/SF
NOI
$25.0K $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 Rate 5%
$500,500
Cap Rate 7%
$357,500
Cap Rate 9%
$278,056
Alternative Uses
Best Use
Office B
$357.5K
$312.8K – $417.1K
NOI $25,025 @ 7.0% cap · market cap 4.28%
Second Best
Healthcare Medical
$330.6K
$289.3K – $385.8K
NOI $23,145 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$485.2K
$424.5K – $566.1K
NOI $33,963 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - Second-floor office space with flexible separation, private offices, parking, and access from Pineda Causeway and Wickham Road.
Where is this office units located?
The property is located at 2955 Pineda Plaza Way 209 Melbourne, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two connected second‑floor units totaling 1,839 square feet; Units 209 and 210 measure 890 and 949 square feet, respectively; Interior connection can be filled to create two separate units
