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    691 & 697 Washburn Rd Melbourne, FL

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    7,500 SF warehouse with M-1 zoning available for rent.

    Type:INDUSTRIAL
    Property size:
    7,500 SF
    Lot size:
    1.01 Acres
    Price / SF:
    $252/SF
    Added:
    Mar 21, 2025
    Days on Market:
    398
    Last Refresh:
    Apr 5 at 9:53 pm

    Property Features for 691 & 697 Washburn Rd

    General Information

    Standard status
    Active
    Size
    7,500 SF
    Lot size
    1.01 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Zachary Ullian
    Zachary Ullian

    Listing agent Zachary Ullian License #3445627

    Listing office The Ullian Realty Corporation

    Listing date Mar 21, 2025

    Source Moodyscre

    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 The Ullian Realty Corporation

    Overview

    New Industrial Warehouse Space

    This newly constructed warehouse space, built in 2023, offers approximately 7,500 square feet of open configuration. The dimensions are estimated at 75 feet deep and 100 feet wide. The space features concrete flooring throughout and includes one restroom. The clear height ranges from approximately 9 to 14 feet. There are four grade-level doors, each measuring approximately 12 feet by 12 feet. Utilities include city water and sewer, as well as 1-phase 200 amp 240v FPL electric. The property provides 14 concrete-paved, striped, and lighted parking spaces. Zoned M-1, the property is suitable for warehousing, automotive purposes, light assembly, manufacturing, and other uses.
    Location Intelligence

    Current Use by Public Records

    Monsta Performance Inc Auto Repair Shop

    Suggested Use

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

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

    Similar Places Nearby

    • Orlando Records Storage — 4165 Dow Rd|Melbourne, Melbourne, FL 32934
    • müv - Space Coast Moving Experts — 4045 Dow Rd Suite 105, Melbourne, FL 32934
    • North American Moving Services — 280 North Dr #280, Melbourne, FL 32934
    • Two Men and a Truck Moving and Storage — 285 North Dr Suite H, Melbourne, FL 32934
    • Mike Todisco’s Moving — 4160 dow rd #104, melbourne, fl 32934

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6859
    Latitude
    28.1176

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    FAQs

    What type of property is this?
    Warehouse - 7,500 SF warehouse with M-1 zoning available for rent.
    Where is this warehouse located?
    The property is located at 691 & 697 Washburn Rd Melbourne, FL.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: M‑1 Zoning: Suitable for Warehousing, Automotive, Light Assembly/Manufact & More!; 2023 Construction: Modern build with up‑to‑date standards.; Features four 12’ x 12’ +/- Grade Level Doors for easy loading and unloading.
    (321) 750-3439 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zachary Ullian
    Zachary Ullian
    Real Estate License ID: 3445627
    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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