Melbourne Flex Space For
618 Washburn Rd, Melbourne, FL 32934
For Sale
Contact for pricing
Pending
15,000 SF flex space near I-95 in Melbourne, FL.
Property Size15,000 SF
Lot Size1.00 Acre
Days on Market249
Property Features for 618 Washburn Rd
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Lease Type
Building Details
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
Lightle Beckner Robison Inc
Listed By:
Luke Brown · License FL SL3569606
(603) 244-8052
Source:
Crexi
Added: Mar 9
Changed: Aug 21
Last Checked: Nov 12 at 5:52AM
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 Lightle Beckner Robison Inc
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Investment Insights
Based on property information with market context.
The property at 618 Washburn Road in Melbourne, Florida, features 15,000 rentable square feet of flex space across 5 units, situated on 1.00 acre. The building is divided into five separate units ranging from 1,500 to 4,500 square feet. Currently, units B, C, and D are occupied by three tenants, while units A and E are vacant. This presents an opportunity for owner-users to establish their own facility, and also serves as a value-add investment opportunity for an owner-user to occupy a portion of the building and lease the remainder to other businesses, or for buyers to lease up the vacant units at market rates. The property is located off of Sarno Road, approximately 1.5 miles from I-95. The surrounding area within a two-mile radius contains over 6,100,000 square feet of industrial space and is occupied by manufacturers and distributors including Amazon, Pepsi-Cole, Microsoft, and Fed-Ex.
Key Highlights
- Value‑add investment opportunity with two vacant units (A & E) available for lease‑up at market rates.
- Suitable for owner‑users seeking to establish their own facility while leasing out the remaining units.
- Located in a high‑density industrial area with over 6,100,000 square feet of industrial space within a two‑mile radius.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,172
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,783,440
$2.8M
Cap Rate 7%
$1,988,171
$2.0M
Cap Rate 9%
$1,546,356
$1.5M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$234.0K $15.60/SF
− Vacancy
−$19.9K −$1.33/SF
EGI
$214.1K $14.27/SF
− OpEx
−$74.9K −$5.00/SF
NOI
$139.2K $9.28/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,783,440
Cap Rate 7%
$1,988,171
Cap Rate 9%
$1,546,356
Alternative Uses
Best Use
Flex RnD
$1.99M
$1.74M – $2.32M
NOI $139,172 @ 7.0% cap · market cap 6.79%
Second Best
Industrial
$1.31M
$1.15M – $1.53M
NOI $91,665 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$4.37M
$3.83M – $5.10M
NOI $306,180 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 32934, FL
18,355
Population
7,987
Households
2.3
Avg Household Size
51
Median Age
42%
College-Educated
94%
High-School Grad
22.9 sq mi
ZIP Area
802
Density / Sq Mi
$102,871
Median Household Income
$51,988
Median Earnings
$1,782
Median Rent
$392,300
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Melbourne, FL
Properties on Market for Flex space in Melbourne
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - 15,000 SF flex space near I-95 in Melbourne, FL.
Where is this flex space located?
The property is located at 618 Washburn Rd Melbourne, FL.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Value‑add investment opportunity with two vacant units (A & E) available for lease‑up at market rates.; Suitable for owner‑users seeking to establish their own facility while leasing out the remaining units.; Located in a high‑density industrial area with over 6,100,000 square feet of industrial space within a two‑mile radius.
