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    1831 Penn St Melbourne, FL 32901

    Sponsored
    For Lease
    Contact for pricing

    2.67 Acres, Build-to-Suit, Prime Location

    Lot size:
    116,305 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.67-acre industrial land parcel presents a unique build-to-suit opportunity in Melbourne, Florida. Located at 1831 Penn St, this single-tenant site boasts an estimated 299 feet of frontage on Penn Street and a maximum depth of approximately 406 feet. The property is zoned M-1 (City of Melbourne Light Industrial), allowing for a variety of uses including light manufacturing, assembly, office space, and warehousing. Conveniently situated between NASA Boulevard and Hibiscus Boulevard, this location offers easy access to major transportation arteries such as Interstate 95, US Highway 1, and US 192. Its proximity to Melbourne International Airport, L3Harris, Northrop Grumman, and other significant employers in the Space Coast submarket makes it an ideal location for businesses seeking a strategic advantage. Nearby utilities include city water and sewer, FPL electric, and fiber optic access. Lease rates will be determined based on lease terms and tenant creditworthiness. This is an exceptional opportunity to establish your business in a thriving, high-demand area. The APN is 27-37-32-50-*-5, Brevard County.

    Property Features for 1831 Penn St

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    116,305 SF

    Unit(s) available at that property

    Space
    Size
    116,305 SF

    HighLights

    • 2.67‑acre industrial land parcel in Melbourne, FL, ideal for build‑to‑suit.
    • Located at 1831 Penn St, with 299 ft of frontage and approx. 406 ft depth.
    • M‑1 zoning (City of Melbourne Light Industrial) allows for light manufacturing, assembly, office, and warehousing.
    • Excellent access to I‑95, US‑1, and US‑192, near Melbourne International Airport.
    • Proximity to major employers like L3Harris and Northrop Grumman.
    • City water/sewer, FPL electric, and fiber optic access available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.651969963865
    Latitude
    28.088210009956

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    FAQs

    What type of property is this?
    Land - 2.67 Acres, Build-to-Suit, Prime Location
    Where is this land located?
    The property is located at 1831 Penn St Melbourne, FL.
    What are key features of this property?
    This property features: 2.67-acre industrial land parcel in Melbourne, FL, ideal for build-to-suit.; Located at 1831 Penn St, with 299 ft of frontage and approx. 406 ft depth.; M-1 zoning (City of Melbourne Light Industrial) allows for light manufacturing, assembly, office, and warehousing.
    Request Owner's contact information
    1831 Penn St Melbourne, FL 32901
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    Melbourne, FL 32901
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    Realmo Value Estimation

    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.

    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.

    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
    1831 Penn St Melbourne, FL 32901
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