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    7605 Progress Circle unit 5 West Melbourne, FL 32904

    View on Map
    For Lease
    $1,460 /Mo

    COMMERCIAL - West Melbourne, FL

    Property size:
    10,000 SF
    Lot size:
    2.61 Acres
    Added:
    Feb 5, 2026
    Days on Market:
    56
    Last Refresh:
    Apr 2 at 4:06 pm

    Property Features for 7605 Progress Circle unit 5

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    27-36-36-01-00000.0-0014.00
    Size
    10,000 SF
    Lot size
    2.61 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    INDUSTRIAL CENTRE EAST LOT 14
    TaxAnnualAmount
    16737

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    2001

    We can help!

    Listing Contact
    Adam Rathbun

    Listing agent Adam Rathbun

    Listing office SouthTrend Realty 760 North Drive #A, melbourne, FL

    Listing date Feb 5, 2026

    MLS# 1068606

    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

    West Melbourne Warehouse with Office

    This unit offers 1,250 square feet of warehouse space, complemented by a small office area and restrooms. The property features a 10x12 loading door and single-phase power. The property is located in West Melbourne, Florida. The lot size is 2.61 acres and the building size is 10,000 square feet. Rent includes trash service. Tenant is responsible for electric, water, phone, internet, and sales tax. Automotive uses are not permitted.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Nail Salon Pharmacy

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

    Similar Places Nearby

    • Vital Records Control — 680 Atlantis Rd, Melbourne, FL 32904
    • The A/C Storage Place — 600 S Wickham Rd, Melbourne, FL 32904
    • Nasa Warehouses — 2805 W NASA Blvd, Melbourne, FL 32904
    • Adams Distribution & Storage — 7715 Progress Cir, Melbourne, FL 32904
    • Professional Data Storage — 680 Atlantis Rd, Melbourne, FL 32904

    Location Insight

    • Map
    • Local Demand
    City
    West Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6760097
    Latitude
    28.0960372

    Nearby Similar for Lease

    • $12/mo

      Industrial Unit Near NASA Boulevard

      Flex space with easy access to major roads and employers.
      6945 Sonny Dale Drive, West Melbourne, FL 32904
      View Details
    • $11/mo

      West Melbourne Warehouse with Office

      10,000 SF warehouse with 2,100 SF office space.
      7100-7600 Technology Dr, West Melbourne, FL
      View Details
    • Contact for pricing

      Retail Space in West Melbourne

      5,500 SF retail space available for lease.
      150 St Johns Heritage Pkwy, West Melbourne, FL
      View Details

    FAQs

    What type of property is this?
    Warehouse - 1,250 SF warehouse with office space for lease.
    Where is this warehouse located?
    The property is located at 7605 Progress Circle unit 5 West Melbourne, FL.
    What is the lease rate?
    The lease rate is $1,460 /Mo.
    What are key features of this property?
    This property features: 1,250 sf warehouse space, featuring a 10x12 loading door; Includes a small office area and restrooms; Single phase power
    (321) 266-9200
    We can help!
    Listing Contact
    Adam Rathbun
    Learn More
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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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