Medical Office Building For
For Sale
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1281 Florida Ave, Rockledge, FL 32955
8,946 SqFt medical office building near Rockledge Regional Medical Center.
Property Size8,946 SF
Price / SF$206.80
Days on Market996
Property Features for 1281 Florida Ave
General Information
Standard status
Active
Size
8,946 SF
Property subtype
Office
Zoning
C2
Investment Type
Owner/User
Net Operating Income
$66,246
Building Details
Year Built
1991
Buildings
1
Stories
1
Listing Agency:
Lightle Beckner Robison Inc
Listed By:
Hayden Brouillette · License #SL3587660
(321) 722-0707
Source:
Crexi
Added: Jan 15, 2024
Changed: Sep 26
Last Checked: Oct 5 at 4:13PM
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 Lightle Beckner Robison Inc
Investment Insights
Based on property information with market context.
This 8,946 SqFt medical office building is available for purchase. It is ideally suited for an owner-user seeking additional income and synergy with existing tenants. There is potential to remodel the 3,000 SqFt vacancy to maximize achievable market rents. The building is located less than 1 mile from Rockledge Regional Medical Center and is situated amongst other medical office buildings. Its proximity to Rockledge High School, combined with high visibility from direct frontage on Highway US-1, provides a strong customer base for any user or tenant.
Key Highlights
- 8,946 SqFt medical office building ideal for owner‑user
- Located less than 1 mile from Rockledge Regional Medical Center
- Potential to remodel 3,000 SF vacancy to maximize market rents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,737
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,434,740
$2.4M
Cap Rate 7%
$1,739,100
$1.7M
Cap Rate 9%
$1,352,633
$1.4M
Market Conditions
NOI Build-Up for 8,946 SF
Gross rent
$193.2K $21.60/SF
− Vacancy
−$30.9K −$3.46/SF
EGI
$162.3K $18.14/SF
− OpEx
−$40.6K −$4.54/SF
NOI
$121.7K $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 Rate 5%
$2,434,740
Cap Rate 7%
$1,739,100
Cap Rate 9%
$1,352,633
Alternative Uses
Best Use
Office B
$1.74M
$1.52M – $2.03M
NOI $121,737 @ 7.0% cap · market cap 6.58%
Second Best
Healthcare Medical
$1.61M
$1.41M – $1.88M
NOI $112,591 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,215 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 32955, FL
40,275
Population
19,281
Households
2.1
Avg Household Size
46
Median Age
38%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
791
Density / Sq Mi
$85,133
Median Household Income
$43,574
Median Earnings
$1,656
Median Rent
$327,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Medical Office Space - 8,946 SqFt medical office building near Rockledge Regional Medical Center.
Where is this medical office space located?
The property is located at 1281 Florida Ave Rockledge, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 8,946 SqFt medical office building ideal for owner‑user; Located less than 1 mile from Rockledge Regional Medical Center; Potential to remodel 3,000 SF vacancy to maximize market rents
