Direct-Frontage Office
For Sale
$285,000
3200 N Wickham Rd Ste 4, Melbourne, FL 32935
1,439 SF office condo with private entry, reception, multiple offices, and rear exit on N Wickham Road frontage.
Property Size1,439 SF
Price / SF$198.05
Days on Market45
Property Features for 3200 N Wickham Rd Ste 4
General Information
Standard status
Active
Size
1,439 SF
Class
B
Property subtype
Office
Site & Location
Traffic Count
34,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
monument sign panel
conference room
breakroom
private restroom
Building Details
Building Size
1,439 SF
Year Built
1997
Tenancy
Multi
Listing Agency:
Sperry Commercial - Flint Brokers & Associates
Listed By:
James Flint, CCIM · License #FL #BK3313539
(321) 252-9090
Source:
Sperrycga
Added: Jul 24
Changed: Aug 26
Last Checked: Sep 5 at 6:28AM
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 Sperry Commercial - Flint Brokers & Associates
Investment Insights
Based on property information with market context.
This 1,439 SF professional office condominium is located within a small commercial association and offers an efficient layout with a private front entry, reception area, five private offices, a conference room, breakroom, and a private restroom. A rear exit completes the suite configuration. The building setting includes available panel space on a prominent multi-tenant monument sign and ample surface parking for visitors and staff.
The suite has direct frontage on N Wickham Road with exposure to approximately 34,000 vehicles per day. It is positioned across from Wickham Park and backs up to Addison Pointe, a 370-unit Class A apartment community completed in 2020, supporting a steady mix of nearby retail, dining, service businesses, and residential activity along the corridor.
Association dues include exterior maintenance, property insurance, landscaping, trash removal, and water, supporting a hands-on approach for an owner-user and providing a manageable ownership structure for a small office condominium buyer.
The suite has direct frontage on N Wickham Road with exposure to approximately 34,000 vehicles per day. It is positioned across from Wickham Park and backs up to Addison Pointe, a 370-unit Class A apartment community completed in 2020, supporting a steady mix of nearby retail, dining, service businesses, and residential activity along the corridor.
Association dues include exterior maintenance, property insurance, landscaping, trash removal, and water, supporting a hands-on approach for an owner-user and providing a manageable ownership structure for a small office condominium buyer.
Key Highlights
- 1,439 SF professional office condominium with direct N Wickham Road frontage and exposure to approximately 34,000 vehicles per day
- Available panel space on a prominent multi‑tenant monument sign for added building visibility
- Suite layout includes private front entry, reception, 5 private offices, conference room, breakroom, private restroom, and rear exit
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
$19,582
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
6.87%
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%
$391,640
$391.6K
Cap Rate 7%
$279,743
$279.7K
Cap Rate 9%
$217,578
$217.6K
Market Conditions
NOI Build-Up for 1,439 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
$31.1K $21.60/SF
− Vacancy
−$5.0K −$3.46/SF
EGI
$26.1K $18.14/SF
− OpEx
−$6.5K −$4.54/SF
NOI
$19.6K $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%
$391,640
Cap Rate 7%
$279,743
Cap Rate 9%
$217,578
Alternative Uses
Best Use
Office B
$279.7K
$244.8K – $326.4K
NOI $19,582 @ 7.0% cap · market cap 6.87%
Second Best
Healthcare Medical
$258.7K
$226.4K – $301.9K
NOI $18,111 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$379.6K
$332.2K – $442.9K
NOI $26,575 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
34,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
338
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
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Frequently Asked Questions
What type of property is this?
Office units - 1,439 SF office condo with private entry, reception, multiple offices, and rear exit on N Wickham Road frontage.
Where is this office units located?
The property is located at 3200 N Wickham Rd Ste 4 Melbourne, FL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,439 SF professional office condominium with direct N Wickham Road frontage and exposure to approximately 34,000 vehicles per day; Available panel space on a prominent multi‑tenant monument sign for added building visibility; Suite layout includes private front entry, reception, 5 private offices, conference room, breakroom, private restroom, and rear exit
