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 Market950
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
(321) 722-0707
Listed By:
Hayden Brouillette · License #SL3587660
Source:
Crexi
Added: Jan 15, 2024
Changed: Aug 9
Last Checked: Aug 20 at 7:28AM
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 = 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
$121,737
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
6.58%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - 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
