Medical Office Suite with
For Sale
$795,000
Pending
816 Us Highway 1, Sebastian, FL 32958
Office suite includes exam rooms, multiple offices, break room, restrooms, and upstairs storage, plus 14 paved parking spaces.
Property Size1,800 SF
Days on Market172
Property Features for 816 Us Highway 1
General Information
Standard status
Pending
Size
1,800 SF
Taxes and HOA fees
Annual Taxes
$4,025
Listing Agency:
The Ullian Realty Corporation
(321) 750-3439
Listed By:
Zachary Michael Ullian
(321) 750-3439
Source:
Exprealty
Added: Mar 4
Changed: Aug 23
Last Checked: Aug 22 at 4:07AM
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 Ullian Realty Corporation
Investment Insights
Based on property information with market context.
Medical office suite configured with a reception and waiting room, two plumbed exam rooms, three offices, a break room, and three restrooms (one includes a shower). Interior finishes include drop ceilings and a mix of carpet, tile, and vinyl flooring. Remaining FF&E is included, and the space also offers bonus upstairs storage of approximately 450 SF.
The property is positioned directly on US-1, with an estimated traffic count of 22,000 VPD. Parking is provided with 14 asphalt paved, striped, illuminated spaces. Notable improvements reported include a roof from 2022, HVAC condenser from 2024, exterior paint from 2025, and irrigation from 2025, along with septic that was pumped in 2024. Utilities include water, septic, and FPL electric.
With its established medical-ready layout and on-site parking, the suite is well suited for a user seeking a functional office configuration and ready-to-occupy interior elements.
The property is positioned directly on US-1, with an estimated traffic count of 22,000 VPD. Parking is provided with 14 asphalt paved, striped, illuminated spaces. Notable improvements reported include a roof from 2022, HVAC condenser from 2024, exterior paint from 2025, and irrigation from 2025, along with septic that was pumped in 2024. Utilities include water, septic, and FPL electric.
With its established medical-ready layout and on-site parking, the suite is well suited for a user seeking a functional office configuration and ready-to-occupy interior elements.
Key Highlights
- Office/medical suite built in 1982 with reception/waiting room, 2 plumbed exam rooms, 3 offices, and a break room
- Includes 3 restrooms, including 1 with a shower, plus bonus upstairs storage of approx. 450 SF
- Remaining FF&E included; drop ceiling throughout with a mix of carpet, tile, and vinyl flooring
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
$24,494
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
3.08%
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%
$489,880
$489.9K
Cap Rate 7%
$349,914
$349.9K
Cap Rate 9%
$272,156
$272.2K
Market Conditions
NOI Build-Up for 1,800 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
$38.9K $21.60/SF
− Vacancy
−$6.2K −$3.46/SF
EGI
$32.7K $18.14/SF
− OpEx
−$8.2K −$4.54/SF
NOI
$24.5K $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 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%
$489,880
Cap Rate 7%
$349,914
Cap Rate 9%
$272,156
Alternative Uses
Best Use
Office B
$349.9K
$306.2K – $408.2K
NOI $24,494 @ 7.0% cap · market cap 3.08%
Second Best
Healthcare Medical
$323.6K
$283.2K – $377.6K
NOI $22,654 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$474.9K
$415.5K – $554.0K
NOI $33,242 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32958, FL
28,619
Population
15,512
Households
1.8
Avg Household Size
58
Median Age
29%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
1,026
Density / Sq Mi
$68,276
Median Household Income
$37,412
Median Earnings
$1,388
Median Rent
$279,100
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 - Office suite includes exam rooms, multiple offices, break room, restrooms, and upstairs storage, plus 14 paved parking spaces.
Where is this medical office space located?
The property is located at 816 Us Highway 1 Sebastian, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Office/medical suite built in 1982 with reception/waiting room, 2 plumbed exam rooms, 3 offices, and a break room; Includes 3 restrooms, including 1 with a shower, plus bonus upstairs storage of approx. 450 SF; Remaining FF&E included; drop ceiling throughout with a mix of carpet, tile, and vinyl flooring
