Remodeled Live-Work
For Sale
Contact for pricing
10 North Melbourne Street, Beverly Hills, FL 34465
Mixed-use zoning accommodates residential living with dedicated office space and paved on-site parking.
Property Size1,062 SF
Price / SF$174.20
Days on Market103
Property Features for 10 North Melbourne Street
General Information
Standard status
Active
Size
1,062 SF
Class
C
Property subtype
Retail, Office, Mixed Use
Zoning
Mixed Use
Investment Type
Owner/User
Amenities
paved parking lot
concrete slab for projects
partially fenced yard
under roof storage area/additional parking
Building Details
Year Built
1964
Year Renovated
2026
Units
5
Listing Agency:
Red Line Investors Inc
Listed By:
Bradley Ayres · License #SL3374946
Source:
Crexi
Added: May 20
Changed: Aug 29
Last Checked: Aug 29 at 5:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Red Line Investors Inc
Investment Insights
Based on property information with market context.
This 1,062-square-foot live-work property combines a residential layout with space for a home-based business or other permitted mixed-use application. The fully remodeled interior includes 2 bedrooms, 1 office, and 1 bathroom, along with new appliances. A new roof was installed in 2024, and new HVAC systems are identified for 2026.
The property at 10 North Melbourne Street in Beverly Hills, Florida, includes a paved parking lot, a concrete project slab, a partially fenced yard, and covered storage that can also provide additional parking. Mixed Use zoning allows for residential and certain business applications, subject to county confirmation of the proposed use.
The property at 10 North Melbourne Street in Beverly Hills, Florida, includes a paved parking lot, a concrete project slab, a partially fenced yard, and covered storage that can also provide additional parking. Mixed Use zoning allows for residential and certain business applications, subject to county confirmation of the proposed use.
Key Highlights
- 1,062 SF live‑work property with 2 bedrooms, 1 office, and 1 bathroom
- Mixed Use zoning for residential and certain business applications
- Fully remodeled interior with new appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,183
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$223,660
$223.7K
Cap Rate 7%
$159,757
$159.8K
Cap Rate 9%
$124,256
$124.3K
Market Conditions
NOI Build-Up for 1,062 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.1K $18.00/SF
− Vacancy
−$4.2K −$3.96/SF
EGI
$14.9K $14.04/SF
− OpEx
−$3.7K −$3.51/SF
NOI
$11.2K $10.53/SF
Area
Citrus County, FL
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$223,660
Cap Rate 7%
$159,757
Cap Rate 9%
$124,256
Alternative Uses
Best Use
Office B
$159.8K
$139.8K – $186.4K
NOI $11,183 @ 7.0% cap · market cap 6.04%
Second Best
Mixed Use
$142.1K
$124.3K – $165.8K
NOI $9,946 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$238.6K
$208.8K – $278.4K
NOI $16,704 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
Explore this area
Business Placement
Demographics for 34465, FL
17,960
Population
9,466
Households
1.9
Avg Household Size
58
Median Age
22%
College-Educated
92%
High-School Grad
24.3 sq mi
ZIP Area
739
Density / Sq Mi
$55,513
Median Household Income
$32,536
Median Earnings
$1,146
Median Rent
$233,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use zoning accommodates residential living with dedicated office space and paved on-site parking.
Where is this live-work space located?
The property is located at 10 North Melbourne Street Beverly Hills, FL.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,062 SF live‑work property with 2 bedrooms, 1 office, and 1 bathroom; Mixed Use zoning for residential and certain business applications; Fully remodeled interior with new appliances
