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    2725 Center Pl Melbourne, FL 32940

    Sponsored
    For Sale
    $2,890,000

    20,000 SF Office/Warehouse, Prime Location

    Property size:
    20,010 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    414
    This exceptional 20,010-square-foot commercial building presents a compelling investment opportunity in Melbourne, Florida. Situated on a 2.06-acre lot, this two-story Class B property boasts a blend of office and warehouse space, perfectly suited for owner-occupancy or multi-tenant use. The building, constructed in 1986 and significantly renovated in 2016 and 2021, features a 17,960-square-foot net rentable area. The first floor currently houses two tenants occupying 2,550 square feet, leaving ample space for a new owner or tenant. A substantial 3,500-square-foot rear warehouse offers significant potential, complete with two high-bay docks, three 14' x 10' roll-up doors, a 400-square-foot reinforced mezzanine, and approximately 800 square feet of air-conditioned workshop space. The warehouse also benefits from 20-22-foot clear height ceilings and access to a 16,000-square-foot gated storage yard. The second floor, currently occupied by the seller, is available for lease-back or owner-occupancy. Well-appointed common areas include a reception lobby, conference room, break room, and restrooms. The property also includes approximately 55 parking spaces and a 1,350-square-foot fenced patio. The building is zoned IU - Light Industrial, offering flexibility for various business uses. Located in Melbourne's desirable Pineda corridor, this property enjoys convenient access to I-95, US-1, and nearby beaches. The asking price is $2,890,000, translating to $144.43 per square foot.

    Property Features for 2725 Center Pl

    General Information

    Property type
    Flex space
    Square Feet
    20,010 SF
    Class
    B
    Lot Size
    89,734 SF

    Building Details

    Year Built
    1986
    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    Karen D'Alberto
    Karen D'Alberto

    Learn more

    Property Insight Report

    HighLights

    • 20,010‑square‑foot commercial building on a 2.06‑acre lot in Melbourne, Florida.
    • Class B, two‑story building with 17,960 square feet of net rentable area, offering office and warehouse space.
    • Significant renovations in 2016 and 2021.
    • 3,500‑square‑foot warehouse with high‑bay docks, roll‑up doors, mezzanine, and air‑conditioned workshop space.
    • 16,000‑square‑foot gated storage yard and 55 parking spaces.
    • IU (Light Industrial) zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    ProChamps Consultant DeSantis Media Marketing Agency DeSantis Digital Works ... Marketing Consultant Property Registration Services Real Estate Consultant Champions Mortgage, LLC Mortgage Broker

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.666750763333
    Latitude
    28.192400312467

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    FAQs

    What type of property is this?
    Flex space - 20,000 SF Office/Warehouse, Prime Location
    Where is this flex space located?
    The property is located at 2725 Center Pl Melbourne, FL.
    What is the asking price?
    The asking price for this property is $2,890,000.
    What are key features of this property?
    This property features: 20,010-square-foot commercial building on a 2.06-acre lot in Melbourne, Florida.; Class B, two-story building with 17,960 square feet of net rentable area, offering office and warehouse space.; Significant renovations in 2016 and 2021.
    Request Owner's contact information
    2725 Center Pl Melbourne, FL 32940
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2725 Center Pl Melbourne, FL 32940
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    Listing Contact
    Karen D'Alberto
    Karen D'Alberto
    Learn more
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