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    621 Palmetto Ave Melbourne, FL 32901

    • Office buildings
    • 952 SF
    • 0.13 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimation
    $320,000
    Location Intelligence
    Property ID
    US19-0469290
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • A Central Florida Bedding / Mattress Store / Bedding Store

    Property Details for 621 Palmetto Ave

    Year built
    1947
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.13 lot acres
    Property size
    952 SF
    Zone code
    C3
    Property type
    Office buildings
    APN
    28-37-03-01-00039.0-0009.00
    APU
    9223372036854775807

    Description

    This exceptional single-tenant warehouse, located in the vibrant Downtown Melbourne area, offers 900 square feet of versatile space perfect for storage or workspace needs. The building features a 16-foot clear height ceiling, easily accommodating large vehicles like trucks, RVs, or boats. Access is convenient via a double-car garage door. The property also includes a private gated parking area with capacity for up to five vehicles, providing ample parking and security. Situated on a 0.13-acre lot, this standalone building (APN: 28-37-03-01-00039.0-0009.00) presents a unique opportunity. Potential tenants should be aware of the following requirements: a minimum credit score of 600, proof of income at least three times the monthly rent, and payment of a $75 per adult application fee, lease preparation fee, security deposit, first month's rent, and last month's rent. Tenant responsibilities include applicable taxes, electricity, repairs, parking lot maintenance, and liability insurance. This property is a single-story structure with one suite. Don't miss this chance to secure this prime industrial space.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $295,000

    • CAP approach

      CAP return
      Estimation
      6%
      $420,000
      6.5%
      $385,000
      7%
      $395,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $390,000
      Geo Method
      $455,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $440,000
      Retail
      $405,000
      Mixed-Use
      $440,000
      Hospitality
      $380,000
      Educational
      $460,000
      Residential Income
      $370,000
      Energy
      $450,000
      Income-Based Land
      $355,000
      Food Service
      $390,000

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6104
    Latitude
    28.08
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,245
    $172,500
    $18,430
    $190,930
    -
    $172,500
    $18,430
    $190,930

    Comparable in this City

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      100 Rialto Pl, Melbourne, FL 32901-3055
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      1100 Hibiscus Blvd

      OFFICE BUILDING (MULTI-STORY) • 43,861 SF
      1100 Hibiscus Blvd, Melbourne, FL 32901-2704
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    • Value Estimation by Request
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      1223 Gtwy Dr

      PROFESSIONAL BUILDING • 65,483 SF
      1223 Gtwy Dr, Melbourne, FL 32901-2607
      View Details
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      226,121 SF

      1901 Grumman Pl

      OFFICE BUILDING (MULTI-STORY) • 226,121 SF
      1901 Grumman Pl, Melbourne, FL 32901
      View Details
    • Value Estimation by Request
      219,361 SF

      2222 Hbr City Blvd

      PROFESSIONAL BUILDING • 219,361 SF
      2222 Hbr City Blvd, Melbourne, FL 32901-5594
      View Details

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    621 Palmetto Ave
    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
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