Two-Suite Medical Office
For Sale
$900,000
7332 Office Park Pl Ste 103 & 104, Melbourne, FL 32940
Configured for medical operations with exam rooms, a private office, and a dedicated reception area.
Property Size2,414 SF
Price / SF$372.83
Days on Market10
Property Features for 7332 Office Park Pl Ste 103 & 104
General Information
Standard status
Active
Size
2,414 SF
Class
C
Property subtype
Office
Additional Details
Office Units
2
Building Details
Building Size
2,414 SF
Year Built
2002
Listing Agency:
Lightle Beckner Robison, Inc.
(321) 419-9088
Listed By:
Vitor De Sousa, CCIM · License #FL #BK3478927
(321) 419-9088
Source:
Teamlbr
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 30 at 1:44PM
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.
Investment Insights
Based on property information with market context.
This medical office property at 7332 Office Park Pl includes Suites 103 and 104, providing a combined 2,414 square feet. Each suite measures 1,207 square feet, creating a two-suite configuration within the same office property.
The interior includes exam rooms, a private office, and a spacious reception area. Built in 2002, the property is located in Melbourne, Florida, at 7332 Office Park Pl, Suite 103 & 104.
The interior includes exam rooms, a private office, and a spacious reception area. Built in 2002, the property is located in Melbourne, Florida, at 7332 Office Park Pl, Suite 103 & 104.
Key Highlights
- Two medical office suites totaling 2,414 SF
- Suites 103 and 104 measure 1,207 SF each
- Exam rooms support medical office operations
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
$32,850
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
3.65%
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%
$657,000
$657.0K
Cap Rate 7%
$469,286
$469.3K
Cap Rate 9%
$365,000
$365.0K
Market Conditions
NOI Build-Up for 2,414 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
$52.1K $21.60/SF
− Vacancy
−$8.3K −$3.46/SF
EGI
$43.8K $18.14/SF
− OpEx
−$10.9K −$4.54/SF
NOI
$32.8K $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 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%
$657,000
Cap Rate 7%
$469,286
Cap Rate 9%
$365,000
Alternative Uses
Best Use
Office B
$469.3K
$410.6K – $547.5K
NOI $32,850 @ 7.0% cap · market cap 3.65%
Second Best
Healthcare Medical
$434.0K
$379.8K – $506.4K
NOI $30,382 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$636.9K
$557.3K – $743.0K
NOI $44,582 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,004
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for medical operations with exam rooms, a private office, and a dedicated reception area.
Where is this medical office space located?
The property is located at 7332 Office Park Pl Ste 103 & 104 Melbourne, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two medical office suites totaling 2,414 SF; Suites 103 and 104 measure 1,207 SF each; Exam rooms support medical office operations
