Office Building With Rear
For Sale
$1,491,780
312 S Harbor City Boulevard, Melbourne, FL 32935
C2 zoning and a rear parking area support the property’s office configuration.
Property Size6,486 SF
Days on Market91
Property Features for 312 S Harbor City Boulevard
General Information
Standard status
Active
Size
6,486 SF
Class
B
Property subtype
Office
Zoning
C2
Building Details
Building Size
6,486 SF
Year Built
1973
Listing Agency:
Lightle Beckner Robison Inc
(321) 722-0707
Listed By:
Jeffery T. Robison, CCIM · License #FL #BK3113472
Source:
Teamlbr
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 31 at 2:07PM
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 Lightle Beckner Robison Inc
Investment Insights
Based on property information with market context.
This office building at 312 S Harbor City Boulevard in Melbourne, Florida, was built in 1973 and is classified under C2 zoning. The property includes a large parking area positioned behind the building, adding on-site parking to the commercial configuration.
The address places the asset in Melbourne, with the property information identifying proximity to business hubs and key amenities. Its office classification and zoning provide the stated basis for office-related commercial use.
The address places the asset in Melbourne, with the property information identifying proximity to business hubs and key amenities. Its office classification and zoning provide the stated basis for office-related commercial use.
Key Highlights
- Office building at 312 S Harbor City Boulevard, Melbourne, FL 32935
- C2 zoning
- Built in 1973
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
$88,261
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
5.92%
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%
$1,765,220
$1.8M
Cap Rate 7%
$1,260,871
$1.3M
Cap Rate 9%
$980,678
$980.7K
Market Conditions
NOI Build-Up for 6,486 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
$140.1K $21.60/SF
− Vacancy
−$22.4K −$3.46/SF
EGI
$117.7K $18.14/SF
− OpEx
−$29.4K −$4.54/SF
NOI
$88.3K $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%
$1,765,220
Cap Rate 7%
$1,260,871
Cap Rate 9%
$980,678
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,261 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,783 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
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 - C2 zoning and a rear parking area support the property’s office configuration.
Where is this office building located?
The property is located at 312 S Harbor City Boulevard Melbourne, FL.
What is the asking price?
The asking price for this property is $1,491,780.
What are key features of this property?
This property features: Office building at 312 S Harbor City Boulevard, Melbourne, FL 32935; C2 zoning; Built in 1973
