Office Unit with Executive
New
For Sale
$757,000
3845 W Eau Gallie Blvd Ste 101, Melbourne, FL 32935
Condominium office suite with dedicated reception, private offices, conference space, and modern interior finishes.
Property Size2,590 SF
Price / SF$292.28
Days on Market3
Property Features for 3845 W Eau Gallie Blvd Ste 101
General Information
Standard status
Active
Size
2,590 SF
Class
A
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,590 SF
Listing Agency:
(321) 863-3228
Listed By:
Brian L. Lightle, CCIM, SIOR, CRE · License #FL #BK510409
(321) 863-3228
Source:
Teamlbr
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 1:53AM
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 Brian L. Lightle, CCIM, SIOR, CRE
Investment Insights
Based on property information with market context.
This 2,590 SF office condominium at 3845 W Eau Gallie Blvd Ste 101 offers a structured professional layout for business operations and client-facing use. The suite includes a reception area, executive office, six private offices, conference room, break room, dedicated IT/server room, and two restrooms. Modern construction and executive-quality interior finishes support a move-in-ready presentation, while the condominium format provides ownership rather than a leasehold interest.
Positioned on W Eau Gallie Boulevard in Melbourne, the property has immediate access to I-95, on-site parking, and prominent signage opportunities. The configuration is identified as suitable for general office, professional services, and medical-adjacent uses. Its flexible arrangement can accommodate multiple office applications within a polished commercial setting.
Positioned on W Eau Gallie Boulevard in Melbourne, the property has immediate access to I-95, on-site parking, and prominent signage opportunities. The configuration is identified as suitable for general office, professional services, and medical-adjacent uses. Its flexible arrangement can accommodate multiple office applications within a polished commercial setting.
Key Highlights
- 2,590 SF office condominium at 3845 W Eau Gallie Blvd Ste 101
- Six private offices plus an executive office and conference room
- Reception area, break room, dedicated IT/server room, and two restrooms
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
$35,245
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
4.66%
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%
$704,900
$704.9K
Cap Rate 7%
$503,500
$503.5K
Cap Rate 9%
$391,611
$391.6K
Market Conditions
NOI Build-Up for 2,590 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
$55.9K $21.60/SF
− Vacancy
−$9.0K −$3.46/SF
EGI
$47.0K $18.14/SF
− OpEx
−$11.7K −$4.54/SF
NOI
$35.2K $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%
$704,900
Cap Rate 7%
$503,500
Cap Rate 9%
$391,611
Alternative Uses
Best Use
Office B
$503.5K
$440.6K – $587.4K
NOI $35,245 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$683.3K
$597.9K – $797.2K
NOI $47,832 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
488
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 units - Condominium office suite with dedicated reception, private offices, conference space, and modern interior finishes.
Where is this office units located?
The property is located at 3845 W Eau Gallie Blvd Ste 101 Melbourne, FL.
What is the asking price?
The asking price for this property is $757,000.
What are key features of this property?
This property features: 2,590 SF office condominium at 3845 W Eau Gallie Blvd Ste 101; Six private offices plus an executive office and conference room; Reception area, break room, dedicated IT/server room, and two restrooms
