Two Office Buildings on
For Sale
Contact for pricing
525 N Harbor City Boulevard, Melbourne, FL 32935
Two office buildings with ample parking and prime visibility.
Property Size8,108 SF
Lot Size0.74 Acres
Price / SF$258.39
Days on Market746
Property Features for 525 N Harbor City Boulevard
General Information
Standard status
Active
Size
8,108 SF
Lot size
0.74 Acres
Property subtype
Office
Zoning
C1A
Building Details
Year Built
1973
Listing Agency:
Ellingson Properties
(321) 536-1461
Listed By:
Jack Jeffcoat · License #3072354
Source:
Crexi
Added: Jul 28, 2024
Changed: Aug 8
Last Checked: May 12 at 11:02PM
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 Ellingson Properties
Investment Insights
Based on property information with market context.
Two office buildings are available for sale, situated at the corner of US Highway 1 (N. Harbor City Blvd) and Thomas Barbour Dr. The sale includes two properties: 525 N Harbor City Blvd., Melbourne, FL 32935 and 701 Thomas Barbour Dr., Melbourne, FL 32935. The properties have separate addresses, tax account IDs, and Parcel IDs. The combined area of the properties is .41 acres and .33 acres. The buildings offer prime visibility from US1 and feature ample parking. The zoning is designated for Professional, Office & Services. The location provides close proximity to area hospitals and Melbourne International Airport. The total property size is 8108 square feet.
Key Highlights
- Prime visibility on US Highway 1 (N. Harbor City Blvd)
- Two separate office buildings included in sale
- Zoned for Professional, Office & Services
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
$110,334
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
5.27%
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%
$2,206,680
$2.2M
Cap Rate 7%
$1,576,200
$1.6M
Cap Rate 9%
$1,225,933
$1.2M
Market Conditions
NOI Build-Up for 8,108 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
$175.1K $21.60/SF
− Vacancy
−$28.0K −$3.46/SF
EGI
$147.1K $18.14/SF
− OpEx
−$36.8K −$4.54/SF
NOI
$110.3K $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%
$2,206,680
Cap Rate 7%
$1,576,200
Cap Rate 9%
$1,225,933
Alternative Uses
Best Use
Office B
$1.58M
$1.38M – $1.84M
NOI $110,334 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,739 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
970
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 building - Two office buildings with ample parking and prime visibility.
Where is this office building located?
The property is located at 525 N Harbor City Boulevard Melbourne, FL.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: Prime visibility on US Highway 1 (N. Harbor City Blvd); Two separate office buildings included in sale; Zoned for Professional, Office & Services
