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    1801 Penn St Melbourne, FL 32901

    For Lease
    $17 SF/Yr

    Prime Melbourne retail space, ideal for various uses.

    Lot size:
    36,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional commercial property, located at 1801 Penn Street in Melbourne, Florida, offers 3,292 square feet of vacant space within a larger 36,250 square foot building. Situated on a 3.92-acre lot with 265 feet of frontage on Penn Street and convenient access to Gateway Drive, this Class A property boasts a prime location. Built in 1989, the building features one suite, currently available for lease. The space includes concrete flooring, exposed ceilings reaching 15 feet high (measured from floor to the bottom of the steel truss), and estimated dimensions of approximately 50 feet wide by 65 feet deep. Its strategic location offers easy access to Melbourne International Airport, major employers like Northrop Grumman, L3Harris, and GE, making it highly attractive for businesses seeking a prominent presence in the Space Coast submarket. The property's M-1 zoning allows for a variety of uses, including high-tech, office, engineering, and R&D. A tenant improvement allowance may be available, contingent upon lease terms and tenant creditworthiness. The property's APN is 27-37-32-50-00000.0-0004.00, and it's located in Brevard County, Florida, zip code 32901.

    Property Features for 1801 Penn St

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    36,250 SF
    Class
    A
    Total Rate
    51656.25

    Building Details

    Year Built
    1989
    Buildings
    1

    Unit(s) available at that property

    Space
    Size
    3,292 SF
    Rate per SF
    $17

    HighLights

    • 3,292 SF vacant suite available for lease in a 36,250 SF Class A building.
    • Located on a 3.92‑acre lot with 265' of frontage on Penn Street in Melbourne, FL (32901).
    • Prime location near Melbourne International Airport and major employers.
    • Features 15' high ceilings, concrete flooring, and M‑1 zoning allowing for various uses.
    • Tenant improvement allowance may be available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Solis Emergency Furnace ... Heating Equipment Supplier CTG Software Company Gauzy Manufacturer Subaru training center Association / Organization Adma Wilson-Romans Nurse Practitioner

    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
    -80.651396019038
    Latitude
    28.087993700984

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    FAQs

    What type of property is this?
    Land - Prime Melbourne retail space, ideal for various uses.
    Where is this land located?
    The property is located at 1801 Penn St Melbourne, FL.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: 3,292 SF vacant suite available for lease in a 36,250 SF Class A building.; Located on a 3.92-acre lot with 265' of frontage on Penn Street in Melbourne, FL (32901).; Prime location near Melbourne International Airport and major employers.
    Request Owner's contact information
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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
    1801 Penn St Melbourne, FL 32901
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