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    7506 Lynx Way Melbourne, FL 32940

    Sponsored
    For Lease
    $32 SF/Yr

    Modern Office Suites, Viera Location

    Lot size:
    20,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    Discover Lynx Office Park, a premier office development in Melbourne, Florida's vibrant Viera community. This exceptional property comprises two brand-new buildings, each offering approximately 20,000 square feet of flexible office space. Ideal for traditional office users, medical practices, or a combination, the buildings are divisible to accommodate various needs, with a minimum leasable space of 2,500 square feet. Building one currently has 5,000 square feet available, subdividable to 2,500 square feet, with floor plans finalized in the first quarter of 2025. Building two offers 20,000 square feet, divisible into 10,000-square-foot floor sections. Shell delivery is anticipated within 8-10 months. The park boasts a convenient location directly across from Viera Hospital, providing easy access to I-95, Wickham Road, and US-1. Enjoy ample onsite parking (4/1000 ratio) and the benefit of being surrounded by retail and professional businesses in a beautifully landscaped setting. The property's zoning is PUD, and it features modern common areas. This prime location, situated between Lake Andrew Drive and Stadium Parkway, offers two convenient access points off I-95, placing you at the heart of Viera's exciting new developments. The property is located in Brevard County, Florida, with a zip code of 32940.

    Property Features for 7506 Lynx Way

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,000 SF
    Total Rate
    53333.33

    Building Details

    Year Built
    2024
    Buildings
    2

    Unit(s) available at that property

    Space
    Lynx 1
    Size
    5,000 SF
    Rate per SF
    $38
    Space
    Lynx 2
    Size
    20,000 SF
    Rate per SF
    $38

    We can help!

    Listing Contact
    Rob Beckner
    Rob Beckner

    Learn more

    HighLights

    • Two brand‑new, 20,000 SF office buildings in Viera, Melbourne, FL.
    • Buildings are divisible, with a minimum lease of 2,500 SF; Building 1 has 5,000 SF available (divisible to 2,500 SF), final floor plans Q1 2025; Building 2 offers 20,000 SF (divisible into 10,000 SF sections), shell delivery in 8‑10 months.
    • Excellent location across from Viera Hospital, with easy I‑95, Wickham Road, and US‑1 access.
    • Ample parking (4/1000 ratio), modern common areas, and PUD zoning.
    • Located in Brevard County, FL (32940), near retail and professional businesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Gym & Fitness Daycare Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.728271890602
    Latitude
    28.225718890338

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    FAQs

    What type of property is this?
    Medical office - Modern Office Suites, Viera Location
    Where is this medical office located?
    The property is located at 7506 Lynx Way Melbourne, FL.
    What is the lease rate?
    The lease rate is $38 SF/Yr.
    What are key features of this property?
    This property features: Two brand-new, 20,000 SF office buildings in Viera, Melbourne, FL.; Buildings are divisible, with a minimum lease of 2,500 SF; Building 1 has 5,000 SF available (divisible to 2,500 SF), final floor plans Q1 2025; Building 2 offers 20,000 SF (divisible into 10,000 SF sections), shell delivery in 8-10 months.; Excellent location across from Viera Hospital, with easy I-95, Wickham Road, and US-1 access.
    Request Owner's contact information
    7506 Lynx Way Melbourne, FL 32940
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    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
    7506 Lynx Way Melbourne, FL 32940
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    We can help!
    Listing Contact
    Rob Beckner
    Rob Beckner
    Real Estate License ID: FL-707053
    Learn more
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