Office Suite With Private
401 Ocean Avenue #203, Melbourne Beach, FL 32951
For Sale
Contact for pricing
Natural light and an open work area provide flexibility alongside a separate private office.
Property Size12,000 SF
Price / SF$0.14
Days on Market266
Property Features for 401 Ocean Avenue #203
General Information
Standard status
Size
Property subtype
Additional Details
Property Use
Building Details
Year Built
Listing Agency:
D. Basile Real Estate, LLC
(321) 751-4500
Listed By:
Louie Polsinelli · License FL #3030685
(321) 960-0908
Source:
Mccoyfreeman
Added: Feb 20
Changed: Nov 11
Last Checked: Nov 12 at 9:52AM
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 D. Basile Real Estate, LLC
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Investment Insights
Based on property information with market context.
Suite 203 at 401 Ocean Avenue is an office space in a building constructed in 1979. Its layout includes a private office and an open work area, with natural light and flexibility for different configurations.
The property is in Melbourne Beach on Ocean Avenue, near major roadways, local businesses, and the beachside community. Water and sewer are included in the rent; the tenant is responsible for electricity.
The property is in Melbourne Beach on Ocean Avenue, near major roadways, local businesses, and the beachside community. Water and sewer are included in the rent; the tenant is responsible for electricity.
Key Highlights
- Suite 203 at 401 Ocean Avenue, Melbourne Beach
- Private office paired with an open work area
- Natural light throughout the office suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,944
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,278,880
$3.3M
Cap Rate 7%
$2,342,057
$2.3M
Cap Rate 9%
$1,821,600
$1.8M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$237.6K $19.80/SF
− Vacancy
−$19.0K −$1.58/SF
EGI
$218.6K $18.22/SF
− OpEx
−$54.6K −$4.55/SF
NOI
$163.9K $13.66/SF
Area
Brevard County, FL
Vacancy
8.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,278,880
Cap Rate 7%
$2,342,057
Cap Rate 9%
$1,821,600
Alternative Uses
Best Use
Office B
$2.34M
$2.05M – $2.73M
NOI $163,944 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $244,944 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
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Business Placement
Demographics for 32951, FL
11,525
Population
7,720
Households
1.5
Avg Household Size
61
Median Age
52%
College-Educated
97%
High-School Grad
8.1 sq mi
ZIP Area
1,423
Density / Sq Mi
$88,859
Median Household Income
$53,281
Median Earnings
$1,690
Median Rent
$495,700
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Brevard County, FL
Properties on Market for Office Units in Brevard County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Natural light and an open work area provide flexibility alongside a separate private office.
Where is this office unit located?
The property is located at 401 Ocean Avenue #203 Melbourne Beach, FL.
What are key features of this property?
This property features: Suite 203 at 401 Ocean Avenue, Melbourne Beach; Private office paired with an open work area; Natural light throughout the office suite
