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    8060 Spyglass Hill Rd Melbourne, FL 32940

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    8060 Spyglass Hill Rd Melbourne, FL 32940

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    • Medical Office Space
    • 20,361 SF
    • 4.91 lot acres
    For Lease
    $19 SF/Yr
    View Listing →
    Viera Office Space For Lease For Lease
    $19 SF/Yr
    19,131 SF

    Viera Office Space For Lease

    Office space in Viera, FL, up to 19,131 SF.

    8060 Spyglass Hill Rd, Melbourne, FL
    View Listing
    Property ID
    US18-0561190
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wuesthoff Brevard Hospice & Palliative Care / Medical Clinic
    • Wuesthoff Health System Home Health / Home Health Care Service / Doctor
    • AMIT KUMAR SHARMA / Physician

    Property Details for 8060 Spyglass Hill Rd

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.91 lot acres
    Property size
    20,361 SF
    Zone code
    BU-2
    Property type
    Medical Office Space
    Property subtype
    Medical space
    APN
    26-36-10-04-00000.0-0001.01
    APU
    9223372036854775807

    Description

    This single-tenant, 19,131-square-foot medical/traditional office building presents a unique opportunity in the thriving Viera submarket of Melbourne, Florida. Located at 8060 Spyglass Hill Rd, near Murrell St and minutes from I-95, this Class B property boasts a convenient location serving a large population base in Brevard County. Built in 1997 and renovated in 2010, the building features a single story with a 17-foot ceiling height. The 4.91-acre lot provides ample space, and the BU2 zoning offers flexibility. The property is entirely vacant, allowing for complete customization to suit a variety of healthcare or professional office needs. Its strategic location within the dynamic Viera West community offers excellent visibility and accessibility. This is an exceptional opportunity to establish a prominent presence in a rapidly growing area, just 72 miles southeast of Orlando. The property features no elevators. APN: 26-36-10-04-00000.0-0001.01. Zip code: 32940.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.7094
    Latitude
    28.2389
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $63,355
    $741,220
    $2,800,520
    $3,541,740
    -
    $741,220
    $2,800,520
    $3,541,740

    Comparable in this City

    • Value Estimation
      $545,000
      4,741 SF

      5510 Murrell Rd

      DENTAL BUILDING • 4,741 SF
      5510 Murrell Rd, Melbourne, FL 32940-6373
      View Details
    • Value Estimation
      $945,000
      2,888 SF

      650 Classic Ct

      DENTAL BUILDING • 2,888 SF
      650 Classic Ct, Melbourne, FL 32940-8278
      View Details
    • Value Estimation
      $13,095,000
      135,597 SF

      3325 Breslay Dr, Unit ALF

      MEDICAL CLINIC • 135,597 SF
      3325 Breslay Dr, Melbourne, FL 32940-8419
      View Details
    • Value Estimation
      $1,245,000
      11,644 SF

      8075 Spyglass Hl Rd Ste, Unit 101

      MEDICAL BUILDING • 11,644 SF
      8075 Spyglass Hl Rd Ste, Melbourne, FL 32940-8281
      View Details
    • Value Estimation
      $1,285,000
      9,894 SF

      1706 Berglund Ln

      MEDICAL BUILDING • 9,894 SF
      1706 Berglund Ln, Melbourne, FL 32940-6474
      View Details
    • Value Estimation
      $505,000
      3,716 SF

      115 Capron Trl

      DENTAL BUILDING • 3,716 SF
      115 Capron Trl, Melbourne, FL 32940-1978
      View Details

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      14,000 SF

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      Entitled Land in Viera, Florida

      1.28 acres of entitled land ready for development.
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    Similar Nearby for Lease

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      10,000 SF

      Viera Medical Office Space

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      View Details
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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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      Professional Office Space in Suntree

      New construction office building, perfect for medical or professional offices.
      2 Suntree Pl, Melbourne, FL 32940
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      Suntree Healthplex Leasing Opportunity

      Prime medical and professional suites available in Melbourne's Suntree area.
      6300 N Wickham Rd, Melbourne, FL 32940
      View Details
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      Office/Medical Building Prime Location

      Class A office/medical building in prime, central location.
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    • $23 SF/Yr
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      Melbourne Office Suite for Lease

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      View Details
    View Listing
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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.

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    8060 Spyglass Hill Rd, Melbourne, FL, 32940

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