Lakefront-View Office
New
For Sale
$3,850,000
7351 Office Park Place, Melbourne, FL 32940
Move-in-ready office property with flexible work areas, meeting space, and an employee kitchen lounge.
Property Size10,849 SF
Price / SF$354.87
Days on Market2
Property Features for 7351 Office Park Place
General Information
Standard status
Active
Size
10,849 SF
Listing Agency:
SouthTrend Realty
(321) 752-1199
Listed By:
Adam Rathbun · License #601973
(321) 266-9200
Source:
Startbrevardsearch
Added: Sep 11
Last Checked: Sep 12 at 6:27AM
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 SouthTrend Realty
Investment Insights
Based on property information with market context.
This 10,849-square-foot office building at 7351 Office Park Place is configured for professional users and includes 18 perimeter offices. Eight offices have direct lakefront views, while open areas currently used for cubicle work can be adapted into additional enclosed offices. The interior and exterior are described as being in outstanding condition and ready for occupancy.
A 700-square-foot conference room includes a movable center wall, allowing the space to function as one large meeting room or two smaller conference rooms. The layout also provides a kitchen and employee lounge next to the restrooms. Positioned within a professional office setting in Melbourne, Florida, the property offers a practical configuration for office operations and adaptable workspace planning.
A 700-square-foot conference room includes a movable center wall, allowing the space to function as one large meeting room or two smaller conference rooms. The layout also provides a kitchen and employee lounge next to the restrooms. Positioned within a professional office setting in Melbourne, Florida, the property offers a practical configuration for office operations and adaptable workspace planning.
Key Highlights
- 10,849 SF office building at 7351 Office Park Place, Melbourne, FL 32940
- 18 perimeter offices, including 8 with direct lakefront views
- 700 SF conference room can divide into two smaller meeting rooms
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
$147,633
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
3.83%
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%
$2,952,660
$3.0M
Cap Rate 7%
$2,109,043
$2.1M
Cap Rate 9%
$1,640,367
$1.6M
Market Conditions
NOI Build-Up for 10,849 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
$234.3K $21.60/SF
− Vacancy
−$37.5K −$3.46/SF
EGI
$196.8K $18.14/SF
− OpEx
−$49.2K −$4.54/SF
NOI
$147.6K $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%
$2,952,660
Cap Rate 7%
$2,109,043
Cap Rate 9%
$1,640,367
Alternative Uses
Best Use
Office B
$2.11M
$1.85M – $2.46M
NOI $147,633 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,359 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,004
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Move-in-ready office property with flexible work areas, meeting space, and an employee kitchen lounge.
Where is this office building located?
The property is located at 7351 Office Park Place Melbourne, FL.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: 10,849 SF office building at 7351 Office Park Place, Melbourne, FL 32940; 18 perimeter offices, including 8 with direct lakefront views; 700 SF conference room can divide into two smaller meeting rooms
