Updated Medical Office
For Sale
$499,900
Pending
315 E Strawbridge Avenue, Melbourne, FL 32901
SINGLE_FAMILY - Melbourne, FL
Property Size1,496 SF
Lot Size0.17 Acres
Days on Market226
Property Features for 315 E Strawbridge Avenue
General Information
Property type
Residential
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Guest, Parking Lot
Fencing
Privacy, Fenced
Subdivision
Wells Map No 3
Lot features
Few Trees, Historic Area
Directions
From US1, Head west on 192, 315 will be on the left.
Standard status
Pending
APN
28-37-03-33-00002.0-0002.00
Size
1,496 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WELLS MAP NO 3 N 60 FT OF LOTS 2,3 ALL LOT 6 BLK 2 EX HWY R/W
Tax Annual Amount
4837
Legal Description
WELLS MAP NO 3 N 60 FT OF LOTS 2,3 ALL LOT 6 BLK 2 EX HWY R/W
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Number of units
1
Flooring type
Tile
Building materials
Block, Concrete
Roof type
Membrane
Listing Agency:
LIV Signature Real Estate, LLC
(321) 241-4429
Listed By:
Anthony M Romero · License #BK695178
(321) 917-7450
Added: Jan 16
Changed: Aug 5
Last Checked: Aug 30 at 7:06AM
MLS# 1066709
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated standalone medical office building offers a welcoming lobby and expansive reception area, along with three private offices. The interior includes modern tile flooring, recessed lighting, and granite and marble surfaces, with remodeled restrooms. Central A/C supports day-to-day comfort, and a fenced, paver stone patio provides outdoor space for staff breaks or seating.
The property is located in downtown Melbourne, positioned on US-192 with approximately 200 feet of highway frontage. Six dedicated parking spaces are available, including one ADA space.
The building is described as turnkey and is listed with C-1 zoning, supporting a range of commercial uses within the C-1 classification.
The property is located in downtown Melbourne, positioned on US-192 with approximately 200 feet of highway frontage. Six dedicated parking spaces are available, including one ADA space.
The building is described as turnkey and is listed with C-1 zoning, supporting a range of commercial uses within the C-1 classification.
Key Highlights
- 1,492 SF standalone medical office with lobby, expansive reception, three private offices, and remodeled restrooms
- C‑1 zoning for versatile commercial use
- Approx. 200 ft of highway frontage on US‑192 with parking lot and 6 dedicated spaces (including 1 ADA)
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
$20,358
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
4.07%
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%
$407,160
$407.2K
Cap Rate 7%
$290,829
$290.8K
Cap Rate 9%
$226,200
$226.2K
Market Conditions
NOI Build-Up for 1,496 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
$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 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%
$407,160
Cap Rate 7%
$290,829
Cap Rate 9%
$226,200
Alternative Uses
Best Use
Office B
$290.8K
$254.5K – $339.3K
NOI $20,358 @ 7.0% cap · market cap 4.07%
Second Best
Healthcare Medical
$269.0K
$235.4K – $313.8K
NOI $18,828 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$394.7K
$345.4K – $460.5K
NOI $27,628 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Strubbe Todd DVM — Melbourne, FL 32904
Frequently Asked Questions
What type of property is this?
Medical Office Space - Standalone medical office features a lobby, reception area, private offices, and remodeled restrooms with central A/C.
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 with lobby, expansive reception, three private offices, and remodeled restrooms; C‑1 zoning for versatile commercial use; Approx. 200 ft of highway frontage on US‑192 with parking lot and 6 dedicated spaces (including 1 ADA)
