Question 1

How much does commercial real estate cost in Melbourne FL?

Accepted Answer

Commercial real estate costs in Melbourne, Florida vary by property type. Office space leases for $14 to $28 per square foot per year. Retail space runs $14 to $30 per square foot NNN. Industrial and warehouse space leases for $8 to $16 per square foot NNN. Commercial land ranges from $3 to $40 per square foot depending on zoning and entitlement status.

Question 2

Do I need a commercial broker in Brevard County?

Accepted Answer

You are not legally required to use a commercial broker, but tenant representation is free to you as the tenant. The landlord pays the broker commission whether you have representation or not. Without a broker, you negotiate directly against the landlord's team. A commercial broker provides market data, identifies off-market options, negotiates lease terms, TI allowances, and protections that most tenants would not know to request.

Question 3

What is a NNN lease in commercial real estate?

Accepted Answer

A triple net or NNN lease requires the tenant to pay base rent plus three additional expenses: property taxes, building insurance, and common area maintenance (CAM). This is the standard lease structure for retail and industrial properties in Brevard County. NNN charges typically add $3 to $10 per square foot on top of your base rent depending on the property type.

Question 4

What areas does Reach Commercial serve?

Accepted Answer

Reach Commercial Real Estate serves all of Brevard County including Melbourne, West Melbourne, Palm Bay, Viera, Suntree, Rockledge, Cocoa, Titusville, Merritt Island, Cocoa Beach, Cape Canaveral, and surrounding communities on Florida's Space Coast.

Question 5

What is a 1031 exchange in Florida?

Accepted Answer

A 1031 exchange lets you defer capital gains taxes by selling one investment property and purchasing another like-kind property. You have 45 days from closing to identify replacement properties and 180 days to complete the purchase. The exchange must be facilitated by a qualified intermediary and you cannot touch the funds. Florida has no state income tax, which makes 1031 exchanges here particularly advantageous for investors.

Key Commercial Real Estate Terms in Florida