Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1395 Windchime Ln Melbourne, FL 32935
    Property profile & analytics

    1395 Windchime Ln Melbourne, FL 32935

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1395 Windchime Ln

    Property type
    Land

    Description

    This exceptional 39,204 square foot lot, located at 1395 Windchime Lane in Melbourne, Florida (zip code 32935), presents a unique opportunity to build a custom home within the exclusive Hidden Harbor Estates gated community. Situated on the far eastern edge of the development, this property boasts stunning views of both the Eau Gallie River and a preserved conservation area, offering unparalleled privacy and natural beauty. The lot is nearly an acre in size and includes a newly constructed seawall, providing peace of mind and protection. Residents of Hidden Harbor Estates enjoy access to a large community pool and dock, with direct access to the navigable waters of the Eau Gallie River, leading to the Indian River Lagoon. This prime location allows for boating, kayaking, and fishing opportunities right from your backyard. The property's size allows for the construction of a private catwalk and boat dock, enhancing the luxurious waterfront lifestyle. The community offers customizable floor plans and resources including designers and construction teams to assist in building your dream home. This is the largest lot in the community, offering an exceptional opportunity to create a personalized sanctuary in a desirable Florida location. Asking price is $699,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6438
    Latitude
    28.1543

    Comparable in this City

    • Value Estimation by Request

      1475 Windchime Ln

      Land
      1475 Windchime Ln, Melbourne, FL 32935
      View Details
    • Value Estimation by Request

      2918 Pineapple Ave

      Multifamily properties
      2918 Pineapple Ave, Melbourne, FL 32935
      View Details
    • Value Estimation by Request

      2918 Pineapple Ave

      Multifamily properties
      2918 Pineapple Ave, Melbourne, FL 32935
      View Details
    • Value Estimation by Request
      10.88 Acres

      2711 Harbor City Blvd

      Land • 10.88 Acres
      2711 Harbor City Blvd, Melbourne, FL 32935
      View Details
    • Value Estimation by Request

      2745 Unknown Rd

      Multifamily properties
      2745 Unknown Rd, Melbourne, FL 32935
      View Details
    • Value Estimation by Request

      1465 Windchime Ln

      Land
      1465 Windchime Ln, Melbourne, FL 32935
      View Details

    Similar Nearby for Sale

    • $999,900

      Melbourne Waterfront Investment Opportunity

      1.5-Acre Waterfront Property, Multifamily Potential
      2918 Pineapple Ave, Melbourne, FL 32935
      View Details
    • $1,850,000

      973 N Harbor City Blvd, Melbourne, FL 32935

      Short term rental properties
      973 N Harbor City Blvd, Melbourne, FL 32935
      View Details
    • $125,000
      895 SF

      Well-Kept End Unit Near Beach

      2-bedroom, 2-bathroom unit near amenities, ideal for various lifestyles.
      1225 N Wickham Rd, Melbourne, FL 32935
      View Details
    • New
      $625,000
      3,144 SF

      Restored Multifamily in Eau Gallie

      Historic multifamily property in the Eau Gallie Arts District.
      658 Young St, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Mixed-Use Property in Arts District

      Mixed-use property in Eau Gallie Arts District, built in 2013.
      1987 Highland Ave, Melbourne, FL 32935
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      2,700 SF

      Prime Melbourne Land: Arts District Gem

      .2-acre lot, 2700 sq ft building, C1 zoning.
      1987 Highland Ave, Melbourne, FL 32935
      View Details
    • $44 SF/Yr
      1,612 SF

      Melbourne Commercial Land Opportunity

      Half-acre lot, 7 offices, ideal business location
      1944 Aurora Rd, Melbourne, FL 32935
      View Details
    • $16 SF/Yr
      14,276 SF

      Melbourne Retail Land Opportunity

      16.65-acre site, 14,276 sq ft building
      2220 Sarno Rd, Melbourne, FL 32935
      View Details
    • $9,791 /Mo

      Prime Corner Commercial Land

      1.66 acre commercial land for rent in Melbourne, Florida.
      2936 Sarno Rd, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Prime Commercial Land For Lease

      1.89 acres of commercial land available for lease.
      4725 N Wickham Rd, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Industrial Land For Lease

      2.3 Acres of Industrial Land in Melbourne, Florida.
      2255 Avocado Ave, Melbourne, FL 32935
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1395 Windchime Ln
    Melbourne, FL 32935
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1395 Windchime Ln, Melbourne, FL, 32935
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!