Corner Office Building with
For Sale
$2,950,000
Pending
5500 Murrell Road, Melbourne, FL 32940
Professional office property with monument signage, parking, existing income, and remaining vacancy.
Property Size9,602 SF
Days on Market97
Property Features for 5500 Murrell Road
General Information
Standard status
Pending
Size
9,602 SF
Elevators
Yes
Amenities
monument signage
Listing Agency:
Keller Williams Realty Brevard
(321) 259-1170
Listed By:
Paige Lane · License #SPC3337624
(321) 626-0889
Source:
Startbrevardsearch
Added: Jul 15
Changed: Oct 13
Last Checked: Oct 19 at 7:00AM
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 Keller Williams Realty Brevard
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Investment Insights
Based on property information with market context.
This 9,602-square-foot professional office building occupies a corner position at 5500 Murrell Road in Melbourne, Florida. The improvements include elevator service, monument signage, and on-site parking.
Existing income is in place, while remaining vacancy creates available space within the property. The building is located in Viera and serves as a professional office asset within Brevard County.
Existing income is in place, while remaining vacancy creates available space within the property. The building is located in Viera and serves as a professional office asset within Brevard County.
Key Highlights
- 9,602‑square‑foot professional office building
- Corner location at 5500 Murrell Road, Melbourne, FL 32940
- Elevator service and monument signage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,664
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,613,280
$2.6M
Cap Rate 7%
$1,866,629
$1.9M
Cap Rate 9%
$1,451,822
$1.5M
Market Conditions
NOI Build-Up for 9,602 SF
Gross rent
$207.4K $21.60/SF
− Vacancy
−$33.2K −$3.46/SF
EGI
$174.2K $18.14/SF
− OpEx
−$43.6K −$4.54/SF
NOI
$130.7K $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 Rate 5%
$2,613,280
Cap Rate 7%
$1,866,629
Cap Rate 9%
$1,451,822
Alternative Uses
Best Use
Office B
$1.87M
$1.63M – $2.18M
NOI $130,664 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.22M – $2.96M
NOI $177,330 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 32940, FL
44,869
Population
21,433
Households
2.1
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
57.3 sq mi
ZIP Area
783
Density / Sq Mi
$106,511
Median Household Income
$56,072
Median Earnings
$1,904
Median Rent
$444,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Professional office property with monument signage, parking, existing income, and remaining vacancy.
Where is this office building located?
The property is located at 5500 Murrell Road Melbourne, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 9,602‑square‑foot professional office building; Corner location at 5500 Murrell Road, Melbourne, FL 32940; Elevator service and monument signage
