Building Details

Building Size 14,000 SF

Year Built 2024

Stories 1

Listing Agency: THE REAL ESTATE COLLECTION LLC

Listed By: Erica Sadelfeld · License #3121297 Show Phone

Source: Therealestatecollection

Added: Mar 26 Changed: Oct 14 Last Checked: Oct 7 at 9:40AM

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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

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Investment Insights

Based on property information with market context.

This is a rare opportunity to own brand-new commercial construction in the heart of Florida’s Space Coast. The versatile property features 3 separate entries, a garage door, 20–24 ft ceilings, 70 parking spots, and striking exterior finishes. The property is zoned BU-1, flexibly allowing a wide range of business uses. It is located in the highly desirable Suntree/Viera corridor, just 15 minutes to the beach, and positioned in one of the fastest-growing markets on Florida’s coast. The location benefits from sustained job growth, strong economic momentum, and major new investments nearby. The property is surrounded by world-class employers including SpaceX, Blue Origin, Boeing, Northrop Grumman, L3Harris, Embraer, Health First, and more. The property size is 14000 square feet.

Key Highlights

• Brand‑new 2024 commercial construction: Avoids maintenance and inefficiencies of older buildings.
• Located in the high‑growth Suntree/Viera corridor, 15 minutes to the beach.
• Versatile BU‑1 zoning allows for a wide range of business uses.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$190,512

Cap Rate

4.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,810,240 $3.8M

Cap Rate 7%

$2,721,600 $2.7M

Cap Rate 9%

$2,116,800 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,000 SF

Gross rent

$302.4K $21.60/SF

− Vacancy

−$48.4K −$3.46/SF

EGI

$254.0K $18.14/SF

− OpEx

−$63.5K −$4.54/SF

NOI

$190.5K $13.61/SF

Area

Brevard County, FL

Vacancy

16.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,810,240

Cap Rate 7%

$2,721,600

Cap Rate 9%

$2,116,800

Alternative Uses

Best Use

Office B

$2.72M

$2.38M – $3.18M (±1% cap)

NOI $190,512 @ 7.0% cap · market cap 4.88%

Second Best

Mixed Use

$2.32M

$2.03M – $2.71M (±1% cap)

NOI $162,435 @ 7.0% cap · market cap 4.17%

Theoretical Best

Office A

$3.69M

$3.23M – $4.31M (±1% cap)

NOI $258,552 @ 7.0% cap · market cap 6.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick HVAC Service Big Box & Wholesale Store Electrical Service Parking Lot & Garage Kitchen & Bath Showroom Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

765

Businesses Nearby

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Modern commercial property in a rapidly growing Florida location.

Where is this mixed-use property 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: Brand‑new 2024 commercial construction: Avoids maintenance and inefficiencies of older buildings.; Located in the high‑growth Suntree/Viera corridor, 15 minutes to the beach.; Versatile BU‑1 zoning allows for a wide range of business uses.