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    2955 2955 Way Melbourne, FL 32940

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    2955 2955 Way Melbourne, FL 32940

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    • Office properties & Spaces
    • 3.10 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 2955 2955 Way

    Year built
    1986
    Lot size
    3.10 lot acres
    Property type
    Office properties & Spaces

    Description

    This exceptional 1283-square-foot commercial office space is situated on the second floor of Pineda Plaza at Suntree in Melbourne, Florida. The unit boasts a well-designed layout including a dedicated waiting area, a reception window and workspace, a private office, and two private restrooms. Its convenient location within Brevard County offers excellent accessibility, benefiting from a direct exit onto the Pineda Causeway and a traffic light at the intersection with Wickham Road. The property sits on a sizable 3.1-acre lot, providing ample space and visibility. High-impact signage opportunities exist along Pineda Causeway, Wickham Road, and Pineda Plaza Way, ensuring maximum brand exposure. Detailed tenant information and lease terms are available upon request. A survey of the unit is included in the provided documentation. This property presents a unique opportunity for businesses seeking a well-appointed, easily accessible, and highly visible office space in a thriving commercial center. The asking price for this turnkey office suite is $269,000. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.671
    Latitude
    28.2023

    Comparable in this City

    • Value Estimation by Request

      2955 Pineda Plaza Way

      Office properties & Spaces
      2955 Pineda Plaza Way, Melbourne, FL 32940
      View Details
    • Value Estimation by Request

      2955 Pineda Plaza Way

      Office properties & Spaces
      2955 Pineda Plaza Way, Melbourne, FL 32940
      View Details
    • Value Estimation by Request
      35,000 SF

      9335 Wickham Rd

      Medical Office Space • 35,000 SF
      9335 Wickham Rd, Melbourne, FL 32940
      View Details
    • Value Estimation by Request
      1,222 SF

      2955 Pineda Plz Way Ste, Unit 201

      CONDOMINIUM OFFICES • 1,222 SF
      2955 Pineda Plz Way Ste, Melbourne, FL 32940-7307
      View Details
    • Value Estimation by Request
      779 SF

      2955 Pineda Plz Way Ste, Unit 102

      CONDOMINIUM OFFICES • 779 SF
      2955 Pineda Plz Way Ste, Melbourne, FL 32940-7306
      View Details
    • Value Estimation
      $565,000
      2,030 SF

      7341 Ofc Park Pl Ste, Unit 103

      CONDOMINIUM OFFICES • 2,030 SF
      7341 Ofc Park Pl Ste, Melbourne, FL 32940-8280
      View Details

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    • $269,000
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      Commercial Office Unit For Sale

      Second floor office unit in Pineda Plaza, 1283 sq. ft.
      2955 Pineda Plaza Way, Melbourne, FL 32940
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      Entitled Land in Viera, Florida

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      11,932 SF

      Manufacturing/Warehouse Facility with Clean Room

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      6,289 SF

      Wickham Road Showroom/Warehouse

      6,289 SF building with showroom, offices, and warehouse space.
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    Similar Nearby for Lease

    • $23 SF/Yr
      900 SF

      Melbourne Office Suite for Lease

      900 sq ft office, prime location
      2955 Pineda Plaza Way, Melbourne, FL 32940
      View Details
    • $25 SF/Yr
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      Suntree Retail Space for Sale

      Prime Retail/Office, 1,025 sq ft
      2955 Pineda Plaza Way, Melbourne, FL 32940
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    • Contact for pricing

      Office/Retail Space with Drive-Thru

      Sublease opportunity in prime Suntree-Viera location with ample parking.
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      7,000 SF

      Professional/Medical Office Space Available

      Up to 7000 square feet of professional or medical office space.
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      View Details
    • $23,506
      10,902 SF

      Single-Tenant Office Building in Viera

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      Professional Office Space in Suntree

      New construction office building, perfect for medical or professional offices.
      2 Suntree Pl, Melbourne, FL 32940
      View Details
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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
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