Flex Space with Three-Phase
305 East Drive #K, West Melbourne, FL 32904
For Sale
Contact for pricing
A varied office and work-area layout includes dedicated server space and two exterior entrances.
Property Size20,000 SF
Price / SF$0.09
Days on Market160
Property Features for 305 East Drive #K
General Information
Standard status
Size
Property subtype
Additional Details
Three-Phase Power
Building Details
Year Built
Listing Agency:
Steven Shull
Listed By:
Steven Shull · License #3087265
(321) 591-0410
Source:
Mccoyfreeman
Added: Jun 3
Changed: Nov 8
Last Checked: Nov 8 at 2:42PM
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 Steven Shull
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 20,000-square-foot flex property was built in 1984 and has a mix of private offices, reception space, open work areas, and a separate server room. Several windows bring natural light into the interior, while two exterior doors provide entry points. Three-phase power is available.
Key Highlights
- Three‑phase power available
- 20,000 square feet of flex space
- Private offices, reception area, open work areas, and a dedicated server room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,220
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,444,400
$2.4M
Cap Rate 7%
$1,746,000
$1.7M
Cap Rate 9%
$1,358,000
$1.4M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$180.0K $9.00/SF
− Vacancy
−$5.4K −$0.27/SF
EGI
$174.6K $8.73/SF
− OpEx
−$52.4K −$2.62/SF
NOI
$122.2K $6.11/SF
Area
Brevard County, FL
Vacancy
3.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,444,400
Cap Rate 7%
$1,746,000
Cap Rate 9%
$1,358,000
Alternative Uses
Best Use
Flex RnD
$2.92M
$2.55M – $3.40M
NOI $204,204 @ 7.0% cap · market cap 11,038.05%
Second Best
Industrial
$1.75M
$1.53M – $2.04M
NOI $122,220 @ 7.0% cap · market cap 6,606.49%
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,360 @ 7.0% cap · market cap 19,965.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32904, FL
35,399
Population
15,117
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
217.1 sq mi
ZIP Area
163
Density / Sq Mi
$86,943
Median Household Income
$42,451
Median Earnings
$1,763
Median Rent
$334,400
Median Home Value
Market
Average Price Trend$/SF for Flex space in Brevard County, FL
Properties on Market for Flex space in Brevard County
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - A varied office and work-area layout includes dedicated server space and two exterior entrances.
Where is this flex space located?
The property is located at 305 East Drive #K West Melbourne, FL.
What are key features of this property?
This property features: Three‑phase power available; 20,000 square feet of flex space; Private offices, reception area, open work areas, and a dedicated server room
