Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    678 N Wickham Road unit 678 Melbourne, FL 32935

    View on Map
    For Lease
    $3,266 /Mo

    COMMERCIAL - Melbourne, FL

    Type:Retail
    Property size:
    2,800 SF
    Lot size:
    2.91 Acres
    Added:
    Oct 20, 2024
    Days on Market:
    530
    Last Refresh:
    Apr 2 at 4:06 pm

    Property Features for 678 N Wickham Road unit 678

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking features
    Assigned, Parking Lot
    Standard status
    Active
    APN
    27-36-24-00-00773.0-0000.00
    Size
    2,800 SF
    Lot size
    2.91 Acres

    Taxes and HOA fees

    TaxDescription
    PART OF E 1/2 OF SE 1/4 W OF WICKHAM RD AS DES IN ORB 2706 PG 622 EX RD R/W

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1988
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Vinyl, Carpet
    Building materials
    Concrete
    Roof type
    Tar/Gravel

    We can help!

    Listing Contact
    Joanie Shepherd

    Listing agent Joanie Shepherd License #3087122

    Listing office Prominent Properties of FL,LLC 201 3rd Ave., Indialantic, FL

    Listing date Oct 20, 2024

    MLS# 1027503

    Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail/Office Space on Wickham Road

    This commercial space, suitable for retail or office use, features frontage on Wickham Road. The updated space is located within a fully tenanted, busy retail center. The location benefits from high traffic, with over 30,000 cars per day, and a dense residential population of over 100,000 residents within a 15-minute drive. Nearby are Kelly's Bar and other retail businesses. The property is situated on a 2.91-acre lot and offers 2,800 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Meraki Solar Melbourne Solar Energy Company

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.673312
    Latitude
    28.117527

    Nearby Similar for Lease

    • Contact for pricing

      Renovated Flex Space in Melbourne

      Flex/industrial space in Suntree Business Center, Melbourne, FL.
      3280 Suntree Boulevard unit: 107A, Melbourne, FL 32940
      View Details
    • $23,506/mo

      Single-Tenant Office Building in Viera

      Corporate office building in Viera's Corporate Park, Melbourne, Florida.
      7351 Office Park Place, Melbourne, FL 32940
      View Details
    • Contact for pricing

      Renovated Office/Warehouse Flex Space

      Modernized office/warehouse with flexible layout in Melbourne, Florida.
      2500 S Harbor City Boulevard, Melbourne, FL 32901
      View Details
    • Contact for pricing

      Renovated Warehouse and Showroom Space

      Extensively renovated warehouse and showroom with expansion options available.
      1030 Aurora Road, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Renovated Office/Warehouse in Melbourne, FL

      Meticulously renovated office/warehouse with drive-in doors and flexible layout.
      2490 S Harbor City Boulevard, Melbourne, FL 32901
      View Details
    • Contact for pricing

      Retail Space on Aurora Road

      Retail space available on high-traffic Aurora Road in Melbourne.
      2722 Aurora Road, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Office and Warehouse Space Available

      2,400 SF flex space with office and warehouse components.
      2825 Business Center Boulevard, Melbourne, FL 32940
      View Details
    • Contact for pricing

      Updated Medical Office in Melbourne

      Updated 1,492 SF medical office in a prime downtown location.
      315 E Strawbridge Avenue, Melbourne, FL 32901
      View Details
    • Contact for pricing

      Melbourne Warehouse with Office Space

      10,000 SF unit with office and warehouse space for lease.
      7400 Technology Drive unit: A, Melbourne, FL 32904
      View Details
    • $15/mo

      Medical Office Space Available

      Medical office with multiple exam rooms in central Melbourne.
      2200-2290 W. Eau Gallie Blvd, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Stand Alone CBS Office Building

      1,488 SF office building on US 192 for rent.
      101 E. New Haven Avenue, Melbourne, FL 32901
      View Details
    • $12/mo

      Melbourne Shell Space For Lease

      Shell space available for lease in central Melbourne location.
      1801 Penn Street, Melbourne, FL 32901
      View Details

    FAQs

    What type of property is this?
    Retail space - Updated retail or office space in a busy, tenanted center.
    Where is this retail space located?
    The property is located at 678 N Wickham Road unit 678 Melbourne, FL.
    What is the lease rate?
    The lease rate is $3,266 /Mo.
    What are key features of this property?
    This property features: High traffic location with over 30,000 cars per day.; Large, clean, updated space suitable for retail or office.; Located in a fully tenanted, successful strip mall.
    (321) 243-5688
    We can help!
    Listing Contact
    Joanie Shepherd
    Real Estate License ID: 3087122
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!