Updated Retail
For Sale
Contact for pricing
678 N Wickham Road 678, Melbourne, FL 32935
Commercial space with Wickham Road frontage in a fully occupied strip shopping center.
Property Size2,800 SF
Price / SF$1.17
Days on Market87
Property Features for 678 N Wickham Road 678
General Information
Standard status
Active
Size
2,800 SF
Listing Agency:
Prominent Properties of FL,LLC
(321) 243-5688
Listed By:
Joanie Shepherd · License #3087122
Source:
Startbrevardsearch
Added: Jul 23
Changed: Oct 16
Last Checked: Oct 16 at 8:19AM
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 Prominent Properties of FL,LLC
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Investment Insights
Based on property information with market context.
This updated retail space is positioned along Wickham Road within a fully occupied strip shopping center. The property information identifies the space for retail or office use and describes a clean, refreshed interior suitable for either format.
The center benefits from reported exposure to more than 30,000 vehicles per day, with over 100,000 residents within a 15-minute drive. Kelly's Bar and several other retail businesses are located nearby in Melbourne, Florida.
The center benefits from reported exposure to more than 30,000 vehicles per day, with over 100,000 residents within a 15-minute drive. Kelly's Bar and several other retail businesses are located nearby in Melbourne, Florida.
Key Highlights
- Frontage along Wickham Road
- Updated, clean interior suited to retail or office use
- Located in a fully occupied strip shopping center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,281
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,620
$645.6K
Cap Rate 7%
$461,157
$461.2K
Cap Rate 9%
$358,678
$358.7K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$50.4K $18.00/SF
− Vacancy
−$4.3K −$1.53/SF
EGI
$46.1K $16.47/SF
− OpEx
−$13.8K −$4.94/SF
NOI
$32.3K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,620
Cap Rate 7%
$461,157
Cap Rate 9%
$358,678
Alternative Uses
Best Use
Office B
$544.3K
$476.3K – $635.0K
NOI $38,102 @ 7.0% cap · market cap 1,166.63%
Second Best
Retail
$461.2K
$403.5K – $538.0K
NOI $32,281 @ 7.0% cap · market cap 988.40%
Theoretical Best
Office A
$738.7K
$646.4K – $861.8K
NOI $51,710 @ 7.0% cap · market cap 1,583.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
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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
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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?
Retail space - Commercial space with Wickham Road frontage in a fully occupied strip shopping center.
Where is this retail space located?
The property is located at 678 N Wickham Road 678 Melbourne, FL.
What are key features of this property?
This property features: Frontage along Wickham Road; Updated, clean interior suited to retail or office use; Located in a fully occupied strip shopping center
