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    1605 Lake St Melbourne, FL 32901

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    For Sale
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    Industrial property in Melbourne, FL, near major transportation routes.

    Property size:
    26,850 SF

    Property Features for 1605 Lake St

    General Information

    Standard status
    Active
    Size
    26,850 SF

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    Listing Contact
    Brian Lightle
    Brian Lightle
    Source: Crexi

    Listing Agency: Lightle Beckner Robison Inc Listing Agent: Brian Lightle

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Melbourne Industrial/Manufacturing Investment Opportunity

    Located in Melbourne, FL, on the Space Coast, this property offers an environment suitable for industrial and manufacturing purposes. It provides convenient access to major transportation routes, including I-95 and the Melbourne International Airport, as well as essential amenities. The area benefits from a strong manufacturing workforce. Its proximity to Port Canaveral, approximately 25 miles away, may appeal to industrial and manufacturing investment or owner-users. Building One, located at 1605 Lake Street, is a one-story warehouse constructed in 1975 with painted metal. It has a building height of approximately 16 feet and a total area of approximately 12,800 square feet. It includes approximately 4400 square feet of office space, a mezzanine with approximately 2000 square feet for storage and offices, and approximately 6400 square feet of open warehouse space. Features include three grade-level roll-up doors, a concrete slab floor, full insulation, and HVAC. The power supply is 800 amps, three-phase. Building Two, located at 716 Columbus, was constructed in 2007 with painted metal. This one-story building has a height of 20 feet and an area of approximately 14,050 square feet. It features a continuous open warehouse with insulated walls, a painted concrete floor, and HVAC. Three grade-level roll-up doors are present, and the power supply is 1200 amps, three-phase. The property's size is 26850 square feet.
    Location Intelligence

    Current Use by Public Records

    Magnus High-Tech Industries Industrial Manufacturer

    Suggested Use

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

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

    Similar Places Nearby

    Baron Self Storage - Melbourne

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.610005
    Latitude
    28.082182

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    FAQs

    What type of property is this?
    Warehouse - Industrial property in Melbourne, FL, near major transportation routes.
    Where is this warehouse located?
    The property is located at 1605 Lake St Melbourne, FL.
    What are key features of this property?
    This property features: - Strategic location with easy access to I-95, Melbourne International Airport, and Port Canaveral.; - Located in Melbourne, FL, on the Space Coast, known for its robust manufacturing workforce.; - Substantial warehouse space: Two buildings offering a combined +/- 26,850 sf of warehouse and office space.
    (321) 722-0707
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    1605 Lake St Melbourne, FL 32901
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    Melbourne, FL 32901
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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
    1605 Lake St Melbourne, FL 32901
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    Listing Contact
    Brian Lightle
    Brian Lightle
    Real Estate License ID: 510409
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