Multi-Tenant Office
599 Sherwood Avenue Satellite Beach, FL 32937
599 Sherwood Avenue, Satellite Beach, FL, 32937
$1,400,000
For Sale
$1,400,000
Single-story office building with 16 suites, each featuring private entrances, restrooms, and direct parking.
Property Size6,150 SF
Lot Size0.41 Acres
Price / SF$227.64
Days on Market191
Property Features for 599 Sherwood Avenue
General Information
- Standard status
- Active
- Size
- 6,150 SF
- Lot size
- 0.41 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1979
Listing agency
(321) 300-4773
Listed by
Reach Commercial Real Estate
(321) 300-4773
Source
Xome
Added: Jan 12 Updated: Jul 22 at 2:04PM Checked: Jul 22 at 2:04PM
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 Reach Commercial Real Estate
Investment Insights
Based on property information with market context.
599 Sherwood Avenue is a single-story, multi-tenant office building totaling 5,951 SF on 0.41 acres, with 5,411 SF of gross leasable area. The property is configured with 16 individual suites, and each suite includes a private entrance, restrooms, and flexible interior space with direct parking access.
The building is located near A1A and offers convenient access to the surrounding Satellite Beach area, with nearby proximity to Patrick Space Force Base, Cape Canaveral, and the beach.
Currently 81.5% occupied, the property has 13 of 16 suites leased. Tenant mix includes wellness, beauty, professional services, and boutique retail.
The building is located near A1A and offers convenient access to the surrounding Satellite Beach area, with nearby proximity to Patrick Space Force Base, Cape Canaveral, and the beach.
Currently 81.5% occupied, the property has 13 of 16 suites leased. Tenant mix includes wellness, beauty, professional services, and boutique retail.
Key Highlights
- 5,951 SF single‑story, multi‑tenant office building on 0.41 acres with 16 suites and gross leasable area of 5,411 SF
- 16 suites, each with private entrances, restrooms, flexible configurations, and direct parking
- Currently 81.5% occupied with 13 of 16 suites leased
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.8k | $21.60 |
| − Vacancy | −$21.3k | −$3.46 |
| EGI | $111.6k | $18.14 |
| − OpEx | −$27.9k | −$4.54 |
| NOI | $83.7k | $13.61 |
6,150 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.39M
NOI $83,689 @ 7.0% cap · market cap 5.98%
Second Best
Retail
$1.01M
$886.3K – $1.18M
NOI $70,903 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,578 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Single-story office building with 16 suites, each featuring private entrances, restrooms, and direct parking.
Where is this office units located?
The property is located at 599 Sherwood Avenue Satellite Beach, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 5,951 SF single‑story, multi‑tenant office building on 0.41 acres with 16 suites and gross leasable area of 5,411 SF; 16 suites, each with private entrances, restrooms, flexible configurations, and direct parking; Currently 81.5% occupied with 13 of 16 suites leased
