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    1216 Prospect Ave Melbourne, FL 32901

    For Lease
    $16 SF/Yr

    Executive Suites, Flexible Sizes, Ample Parking

    Lot size:
    43,218 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This three-story, Class B office building at 1216 Prospect Ave, Melbourne, FL 32901, offers diverse workspace solutions. The 43,218 square foot building features executive, creative, and traditional office spaces, with units ranging from a minimum of 161 square feet to a maximum contiguous space of 444 square feet. Multiple tenancy options are available. The property sits on a 1.91-acre lot and boasts ample parking, a passenger elevator, and was renovated in 2006. Located in the Space Coast submarket of Brevard County, this commercially zoned building (APN 28-37-02-75-2-13) offers convenient access via US1. Full-service gross leases include electricity and water/sewer

    Property Features for 1216 Prospect Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    43,218 SF
    Class
    B
    Total Rate
    61045.42

    Building Details

    Year Renovated
    2006
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    2nd Floor
    Size
    248 SF
    Rate per SF
    $16
    Property Profile Location Intelligence

    Current Use by Public Records

    Perkins Dumpster Rental Garbage Dump Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.621591
    Latitude
    28.0600145

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    FAQs

    What type of property is this?
    Office space - Executive Suites, Flexible Sizes, Ample Parking
    Where is this office space located?
    The property is located at 1216 Prospect Ave Melbourne, FL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    Request Owner's contact information
    1216 Prospect Ave 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
    1216 Prospect Ave Melbourne, FL 32901
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