Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    825 University Blvd Melbourne, FL 32901
    Back to Search
    Property profile & analytics

    825 University Blvd, Melbourne, FL 32901

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

    Current Use by Public Records

    • Jasmine Cove / Apartment Building / Townhouse Complex

    Property Details for 825 University Blvd

    Year built
    1964
    Property type
    Apartment buildings

    Description

    Jasmine Cove, located at 825 E University Blvd, Melbourne, FL 32901, is a 42-unit apartment building constructed in 1964. This multifamily property presents a compelling value-add investment opportunity. The property consists entirely of two-bedroom, one-bathroom townhome-style units, offering a favorable and consistent unit mix. Significant capital expenditures exceeding $1,000,000 have been completed since 2020, enhancing the property's condition and appeal. A substantial rental upside potential of $200 or more per unit exists based on comparable properties in the area. Jasmine Cove benefits from its prime location, just minutes away from Melbourne Beach, Downtown Melbourne, Florida Institute of Technology, and major employment centers, ensuring strong tenant demand. While additional capital expenditure opportunities are available, the most significant potential for value enhancement lies in operational improvements. This property offers investors a chance to capitalize on both immediate rental increases and long-term operational efficiencies in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6059
    Latitude
    28.0637

    Comparable in this City

    • Value Estimation
      $2,790,000
      29,129 SF

      585 University Blvd

      APARTMENT HOUSE (5+ UNITS)
      585 University Blvd, Melbourne, FL 32901-7158
      View Details
    • Value Estimation
      $1,650,000
      19,560 SF

      159 University Blvd, Unit 301-303

      APARTMENT HOUSE (5+ UNITS)
      159 University Blvd, Melbourne, FL 32901-7027
      View Details
    • Value Estimation
      $2,040,000
      22,128 SF

      3151 Babcock St

      APARTMENT HOUSE (5+ UNITS)
      3151 Babcock St, Melbourne, FL 32901-6913
      View Details
    • Value Estimation
      $810,000
      2,500 SF

      208 Nieman Ave, Unit 201-202

      APARTMENT HOUSE (5+ UNITS)
      208 Nieman Ave, Melbourne, FL 32901-1253
      View Details
    • Value Estimation
      $630,000
      4,267 SF

      3625 Misty Oak Dr

      APARTMENT HOUSE (5+ UNITS)
      3625 Misty Oak Dr, Melbourne, FL 32901-8757
      View Details
    • Value Estimation
      $735,000
      7,740 SF

      1511 Mitchell St

      APARTMENT HOUSE (5+ UNITS)
      1511 Mitchell St, Melbourne, FL 32901-3070
      View Details

    Similar Nearby for Sale

    • $5,750,000

      Melbourne Townhome Apartment Building

      42-unit townhome property in Melbourne, Florida's Space Coast.
      825 E University Blvd, Melbourne, FL 32901
      View Details
    • Contact for pricing
      8,607 SF

      Mixed-Use Property with High Exposure

      Mixed-use property with commercial and residential units in high-traffic area.
      2016 Melbourne Ct, Melbourne, FL 32901
      View Details
    • Contact for pricing
      374,616 SF

      Proposed Mixed-Use Development Site

      Sustainable mixed-use development site in Melbourne City Center.
      3999 S Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      3,194 SF

      Multifamily Investment Opportunity in Melbourne

      Turn-key investment property with five units near Downtown Melbourne.
      2716 Riverview Dr, Melbourne, FL 32901
      View Details
    • $30,000,000

      Apartment Investment Near Florida Tech

      Value-add property near Florida Tech with significant capital improvements.
      150 E University Blvd, Melbourne, FL 32901
      View Details
    • Contact for pricing
      37,800 SF

      Melbourne Multifamily Investment Opportunity

      Multifamily property for sale in Melbourne, Florida.
      825 E University Blvd, Melbourne, FL 32901
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr

      Office Space Near Melbourne Airport

      Office space for lease near Melbourne International Airport.
      1220 Prospect Ave, Melbourne, FL 32901
      View Details
    • $12 SF/Yr

      Prime Melbourne Office Space Available

      Centrally located office space with reception and multiple rooms.
      1374 S Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      425 SF

      Office Space Near Downtown Melbourne

      Office space for rent with ample parking and street visibility.
      2202-2275 Bryan St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      2,250 SF

      Office Space with Lab Area

      Office space featuring a clean room and lab area.
      1515 Elizabeth St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      8,240 SF

      Office and Warehouse Space Available

      8,240 SF office and warehouse space for lease.
      2896 Harper Rd, Melbourne, FL 32901
      View Details
    • Contact for pricing

      Prestigious Office Building with River Views

      Class A office building with Indian River and rocket launch views.
      1901 S Harbor City Blvd, Melbourne, FL 32901
      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.
    825 University Blvd
    Melbourne, FL 32901
    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
    825 University Blvd, Melbourne, FL, 32901
    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!