Listing Agency: LIV Signature Real Estate, LLC Show Phone

Listed By: Anthony M Romero · License #BK695178 Show Phone

Source: Startbrevardsearch

Added: Jul 20 Changed: Oct 2 Last Checked: Oct 14 at 10:24PM

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Investment Insights

Based on property information with market context.

This standalone medical office building has been updated with tile flooring, recessed lighting, and granite and marble finishes. The interior includes a lobby, large reception area, three private offices, remodeled restrooms, and central A/C. A fenced patio with paver-stone surfacing provides additional outdoor space.

The property is located at 315 E Strawbridge Avenue in Melbourne, near downtown and along US-192. Approximately 200 feet of highway frontage supports a prominent street presence. Six dedicated parking spaces are provided, including one ADA space. C-1 zoning supports commercial use for a medical practice or other qualifying business.

Key Highlights

• 1,492 SF standalone medical office building
• Three private offices with lobby and expansive reception area
• Updated tile flooring, recessed lighting, granite and marble surfaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,358

Cap Rate

4.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$407,160 $407.2K

Cap Rate 7%

$290,829 $290.8K

Cap Rate 9%

$226,200 $226.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,496 SF

Gross rent

$32.3K $21.60/SF

− Vacancy

−$5.2K −$3.46/SF

EGI

$27.1K $18.14/SF

− OpEx

−$6.8K −$4.54/SF

NOI

$20.4K $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%

$407,160

Cap Rate 7%

$290,829

Cap Rate 9%

$226,200

Alternative Uses

Best Use

Office B

$290.8K

$254.5K – $339.3K (±1% cap)

NOI $20,358 @ 7.0% cap · market cap 4.07%

Second Best

Healthcare Medical

$269.0K

$235.4K – $313.8K (±1% cap)

NOI $18,828 @ 7.0% cap · market cap 3.77%

Theoretical Best

Office A

$394.7K

$345.4K – $460.5K (±1% cap)

NOI $27,628 @ 7.0% cap · market cap 5.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Florida Green MD Medical Clinic Liv Melbourne Wellness ... Spa & Massage Center MedAesthetics Spa & Massage Center Bella Mia Mobile ... Spa & Massage Center

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Storage Facility Veterinary Clinic Catering Service Daycare Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,934

Businesses Nearby

Under-served

Demand for This Use

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Standalone practice facility with private offices, remodeled restrooms, dedicated parking, and C-1 zoning near downtown Melbourne.

Where is this medical office space located?

The property is located at 315 E Strawbridge Avenue Melbourne, FL.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 1,492 SF standalone medical office building; Three private offices with lobby and expansive reception area; Updated tile flooring, recessed lighting, granite and marble surfaces