Multi-Building Industrial
For Sale
Contact for pricing
660 N John Rodes Blvd, Melbourne, FL 32934
Multi-building industrial park with in-place tenancy and multiple vacant spaces across 18.52 acres in Melbourne.
Property Size90,600 SF
Lot Size18.52 Acres
Price / SF$142.38
Days on Market66
Property Features for 660 N John Rodes Blvd
General Information
Standard status
Active
Size
90,600 SF
Lot size
18.52 Acres
Property subtype
Industrial
Zoning
M1—Light Industrial
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Buildings
5
Tenancy
Multi
Listing Agency:
Charles A. Von Stein, Inc
(772) 778-4885
Listed By:
Kirk Von Stein · License #FL
Source:
Crexi
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 11 at 5:34PM
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 Charles A. Von Stein, Inc
Investment Insights
Based on property information with market context.
John Rodes Industrial Park is a multi-building industrial park totaling 90,600 SF on 18.52 acres in Melbourne, Florida. The property includes in-place industrial tenancy along with multiple vacant spaces that are available for lease-up or occupancy. This mix supports flexible strategies for investors, owner-users, and operators looking for scale across more than one building.
The offering is for sale and located at 660 N John Rodes Blvd. As an established industrial corridor asset in Brevard County, the park provides a consolidated site designed to accommodate different industrial occupancy needs within a single ownership structure.
For tenants and owner-users, the presence of both occupied and vacant spaces can support expansion planning within the park. For investors, the existing occupancy structure provides immediate income potential while the availability of additional spaces offers a clear path to filling units over time. The multi-building configuration is also well-suited for users seeking room to grow or for operators that prefer managing multiple industrial bays under one umbrella.
The offering is for sale and located at 660 N John Rodes Blvd. As an established industrial corridor asset in Brevard County, the park provides a consolidated site designed to accommodate different industrial occupancy needs within a single ownership structure.
For tenants and owner-users, the presence of both occupied and vacant spaces can support expansion planning within the park. For investors, the existing occupancy structure provides immediate income potential while the availability of additional spaces offers a clear path to filling units over time. The multi-building configuration is also well-suited for users seeking room to grow or for operators that prefer managing multiple industrial bays under one umbrella.
Key Highlights
- Multi‑building industrial park totaling 90,600 SF across 18.52 acres in Melbourne, Florida.
- Current in‑place industrial tenancy with multiple vacant spaces available for lease‑up or occupancy.
- Flexible building configurations designed for investors, owner‑users, or users seeking scale.
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
$624,243
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
4.84%
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%
$12,484,860
$12.5M
Cap Rate 7%
$8,917,757
$8.9M
Cap Rate 9%
$6,936,033
$6.9M
Market Conditions
NOI Build-Up for 90,600 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
$761.0K $8.40/SF
− Vacancy
−$26.6K −$0.29/SF
EGI
$734.4K $8.11/SF
− OpEx
−$110.2K −$1.22/SF
NOI
$624.2K $6.89/SF
Area
Brevard County, FL
Vacancy
3.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$12,484,860
Cap Rate 7%
$8,917,757
Cap Rate 9%
$6,936,033
Alternative Uses
Best Use
Warehouse
$8.92M
$7.80M – $10.40M
NOI $624,243 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.90M
$20.92M – $27.89M
NOI $1,673,201 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Multi-building industrial park with in-place tenancy and multiple vacant spaces across 18.52 acres in Melbourne.
Where is this warehouse located?
The property is located at 660 N John Rodes Blvd Melbourne, FL.
What is the asking price?
The asking price for this property is $12,900,000.
What are key features of this property?
This property features: Multi‑building industrial park totaling 90,600 SF across 18.52 acres in Melbourne, Florida.; Current in‑place industrial tenancy with multiple vacant spaces available for lease‑up or occupancy.; Flexible building configurations designed for investors, owner‑users, or users seeking scale.
