Brand-New Flex
For Sale
$3,900,000
7211 Waelti Drive Melbourne, Melbourne, FL 32940
New-build flex/warehouse space with multiple entries, a garage door, and high ceilings suited for a range of business uses.
Property Size14,000 SF
Price / SF$278.57
Days on Market47
Property Features for 7211 Waelti Drive Melbourne
General Information
Standard status
Active
Size
14,000 SF
Total Parking Spaces
70
Zoning
BU-1
Warehouse & Industrial
Clear Height
24 ft
Drive-In Doors
1
Building Details
Year Built
2024
Listing Agency:
THE REAL ESTATE COLLECTION LLC
(407) 890-1354
Listed By:
Erica Sadelfeld · License #3121297
(407) 890-1354
Source:
Therealestatecollection
Added: Jul 6
Changed: Jul 7
Last Checked: Aug 21 at 4:08AM
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 THE REAL ESTATE COLLECTION LLC
Investment Insights
Based on property information with market context.
This brand-new flex warehouse property is designed for modern operations, with three separate entries and a garage door for efficient access and vehicle movement. The facility offers 20 to 24-foot ceilings, supporting storage and flexible interior layouts for a variety of tenant needs. Exterior and site improvements include ample parking with 70 spots, supporting customer and employee access.
The property is located at 7211 Waelti Drive in Melbourne, Florida, in the Suntree/Viera corridor. It is positioned to serve businesses in the Space Coast market, with major regional employers referenced in the surrounding area, including SpaceX, Blue Origin, Boeing, Northrop Grumman, L3Harris, Embraer, and Health First.
Zoned BU-1, the site allows a wide range of business uses, which can support both owner-users and operators seeking a versatile warehouse/flex configuration. With multiple ingress points, high ceiling height, and dedicated parking on-site, the building is well-suited for users that need straightforward access for staff and equipment while maintaining flexibility in how the space is utilized.
The property is located at 7211 Waelti Drive in Melbourne, Florida, in the Suntree/Viera corridor. It is positioned to serve businesses in the Space Coast market, with major regional employers referenced in the surrounding area, including SpaceX, Blue Origin, Boeing, Northrop Grumman, L3Harris, Embraer, and Health First.
Zoned BU-1, the site allows a wide range of business uses, which can support both owner-users and operators seeking a versatile warehouse/flex configuration. With multiple ingress points, high ceiling height, and dedicated parking on-site, the building is well-suited for users that need straightforward access for staff and equipment while maintaining flexibility in how the space is utilized.
Key Highlights
- New‑build commercial property built in 2024 with 14,000 SF total building area and 9 total baths
- 1.64‑acre corner lot on a dead‑end street with public water and county road frontage
- Parking lot with 70 parking spots
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
$142,943
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
3.67%
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%
$2,858,860
$2.9M
Cap Rate 7%
$2,042,043
$2.0M
Cap Rate 9%
$1,588,256
$1.6M
Market Conditions
NOI Build-Up for 14,000 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
$235.2K $16.80/SF
− Vacancy
−$15.3K −$1.09/SF
EGI
$219.9K $15.71/SF
− OpEx
−$77.0K −$5.50/SF
NOI
$142.9K $10.21/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$2,858,860
Cap Rate 7%
$2,042,043
Cap Rate 9%
$1,588,256
Alternative Uses
Best Use
Flex RnD
$2.04M
$1.79M – $2.38M
NOI $142,943 @ 7.0% cap · market cap 3.67%
Second Best
Industrial
$1.22M
$1.07M – $1.43M
NOI $85,554 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,552 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New-build flex/warehouse space with multiple entries, a garage door, and high ceilings suited for a range of business uses.
Where is this flex space located?
The property is located at 7211 Waelti Drive Melbourne Melbourne, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: New‑build commercial property built in 2024 with 14,000 SF total building area and 9 total baths; 1.64‑acre corner lot on a dead‑end street with public water and county road frontage; Parking lot with 70 parking spots
