1322 Oak St 5,298 SF Office Building Melbourne, FL 32901 $1,000,000 ($188.75/SF)

An exceptional investment opportunity offering immediate income and substantial redevelopment potential. Situated on 0.57 acres just one block from Health First’s Holmes Regional Medical Center, this strategically located Melbourne property features two durable concrete block office buildings in a highly desirable medical and professional corridor.
The larger building, totaling approximately 3,900 square feet, is ideal for an owner-user or can be leased to generate additional rental income. The second building, approximately 1,300 square feet, is currently tenant-occupied, providing stable cash flow from day one. Further enhancing the property’s appeal, the smaller building received a new roof in 2024, reducing near-term capital expenditure requirements.
Beyond the strength of the existing improvements, the property’s true upside lies in its highly sought-after R-P zoning, which provides a flexible and clearly defined path for future redevelopment. This zoning supports long-term value creation as demand in the surrounding medical and professional market continues to grow.
This is a rare opportunity for investors seeking dependable income with redevelopment optionality, or for an owner-user to occupy the larger building while benefiting from rental income and long-term appreciation.
Property Highlights:
- 0.57-acre site, one block from Holmes Regional Medical Center
- Two concrete block office buildings: 3,900 SF & 1,300 SF
- Smaller building tenant-occupied, providing immediate cash flow
- Larger building ideal for owner-user or lease income
- R-P zoning with flexible redevelopment potential
- New roof on smaller building (2024), minimal near-term capex