Renovated Flex Space with Bay
For Sale
$1,199,000
Pending
7731 Industrial Rd, West Melbourne, FL 32904
Gated industrial improvements offer drive-through access, updated systems, and adaptable space for multiple commercial operations.
Property Size8,256 SF
Days on Market399
Property Features for 7731 Industrial Rd
General Information
Standard status
Pending
Size
8,256 SF
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
10 ft
Drive-In Doors
32
Taxes and HOA fees
Annual Taxes
$6,661
Building Details
Buildings
2
Listing Agency:
Relentless Real Estate Co.
(321) 412-4021
Listed By:
Jennifer Brown · License #3592570
(321) 412-4021
Source:
Exprealty
Added: Jul 28, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:47AM
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 Relentless Real Estate Co.
Investment Insights
Based on property information with market context.
This renovated flex property comprises two industrial buildings totaling 8,256 square feet. The complex includes 32 overhead bay doors, with 16 serving each building, along with 10-foot ceilings, a restroom in each structure, and drive-through capability. Improvements include new garage doors and windows, fresh paint, new AC units, and updated electrical systems. One bay has a dedicated paint booth setup for specialized work.
The property is fully fenced and gated at 7731 Industrial Rd in West Melbourne, Florida, just off Ellis Road. Its location provides access to I-95 and destinations throughout Brevard County. The configuration supports operations such as distribution, warehousing, manufacturing, service work, equipment storage, and fleet-based business use.
The property is fully fenced and gated at 7731 Industrial Rd in West Melbourne, Florida, just off Ellis Road. Its location provides access to I-95 and destinations throughout Brevard County. The configuration supports operations such as distribution, warehousing, manufacturing, service work, equipment storage, and fleet-based business use.
Key Highlights
- 8,256 SF industrial complex across two buildings
- 32 overhead bay doors, with 16 per building
- 10‑ft ceilings, restroom, and drive‑through access in each building
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
$84,295
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
7.03%
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%
$1,685,900
$1.7M
Cap Rate 7%
$1,204,214
$1.2M
Cap Rate 9%
$936,611
$936.6K
Market Conditions
NOI Build-Up for 8,256 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
$138.7K $16.80/SF
− Vacancy
−$9.0K −$1.09/SF
EGI
$129.7K $15.71/SF
− OpEx
−$45.4K −$5.50/SF
NOI
$84.3K $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%
$1,685,900
Cap Rate 7%
$1,204,214
Cap Rate 9%
$936,611
Alternative Uses
Best Use
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $84,295 @ 7.0% cap · market cap 7.03%
Second Best
Warehouse
$812.6K
$711.1K – $948.1K
NOI $56,885 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,472 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
32
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32904, FL
35,399
Population
15,117
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
94%
High-School Grad
217.1 sq mi
ZIP Area
163
Density / Sq Mi
$86,943
Median Household Income
$42,451
Median Earnings
$1,763
Median Rent
$334,400
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 - Gated industrial improvements offer drive-through access, updated systems, and adaptable space for multiple commercial operations.
Where is this flex space located?
The property is located at 7731 Industrial Rd West Melbourne, FL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 8,256 SF industrial complex across two buildings; 32 overhead bay doors, with 16 per building; 10‑ft ceilings, restroom, and drive‑through access in each building
