Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1046 Hbr City Blvd Melbourne, FL 32901-1911

    • Shopping centers
    • 6,664 SF
    • 2.60 lot acres
    OFF-MARKET
    Last Sale
    Jul 21, 2022
    $1,335,000
    Value Estimations
    $1,345,000
    Show details
    Cap Rate Potential
    6.4%
    Shopping centers
    Location Intelligence
    Property ID
    US18-0076446
    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

    • Boniface-Hiers Mitsubishi / Mitsubishi Dealer

    Property Details for 1046 Hbr City Blvd

    Year built
    1955
    Construction
    FRAME
    Lot size
    2.60 lot acres
    Property size
    6,664 SF
    Zone code
    C2
    Property type
    Shopping centers
    Property subtype
    Specialty properties
    APN
    27-37-34-00-00753.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,385,000
      ML approach
      $1,315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,480,000
      6.5%
      $1,365,000
      7%
      $1,270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $961,000
      Market price range: $481k - $1.46M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $910,000
      Current use
      COMMERCIAL (GENERAL)
      $2,065,000
      Change: +126% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,490,000
      Change: +63% Conversion: Difficult
      OFFICE BUILDING
      $1,165,000
      Change: +28% Conversion: Moderate
      RETAIL STORES
      $1,145,000
      Change: +25% Conversion: Easy
      MEDICAL BUILDING
      $1,065,000
      Change: +17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6094
    Latitude
    28.0919
    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
    $10,617
    $568,210
    $3,330
    $571,540
    -
    $568,210
    $3,330
    $571,540

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      Melbourne, FL 32901

      SHOPPING CENTER COMMON AREA • 0.06 Acres
      Melbourne, FL 32901
      View Details
    • Value Estimation
      $555,000
      10,415 SF

      2309 Hbr City Blvd

      SHOPPING CENTER COMMON AREA • 10,415 SF
      2309 Hbr City Blvd, Melbourne, FL 32901-5631
      View Details
    • Value Estimation by Request
      0.26 Acres

      1306 Morningside Dr

      SHOPPING CENTER COMMON AREA • 0.26 Acres
      1306 Morningside Dr, Melbourne, FL 32901-3239
      View Details
    • Value Estimation by Request
      0.35 Acres

      Melbourne, FL 32901

      SHOPPING CENTER COMMON AREA • 0.35 Acres
      Melbourne, FL 32901
      View Details
    • Value Estimation by Request
      0.86 Acres

      628 Melbourne Ave

      SHOPPING CENTER COMMON AREA • 0.86 Acres
      628 Melbourne Ave, Melbourne, FL 32901
      View Details
    • Value Estimation by Request
      5,037 SF

      1676 Hibiscus Blvd

      SHOPPING CENTER COMMON AREA • 5,037 SF
      1676 Hibiscus Blvd, Melbourne, FL 32901-2641
      View Details

    Similar Nearby for Sale

    • $965,900

      Melbourne Waterfront Commercial Property

      High-visibility, 1-acre commercial lot, excellent location.
      2815 Harbor City Blvd, Melbourne, FL 32901
      View Details
    • Contact for pricing
      594,158 SF

      Melbourne City Centre Campus

      Large development opportunity, prime location.
      3999 Babcock St, Melbourne, FL 32901
      View Details
    • $135,000

      Thriving Melbourne Salon - $135K

      Established Salon, High Income, Turnkey Operation
      902 New Haven Ave, Melbourne, FL 32901
      View Details
    • Contact for pricing
      495,712 SF

      Melbourne City Centre Campus

      11-Acre Mixed-Use Development Opportunity
      3999 Babcock St, Melbourne, FL 32901
      View Details
    • $549,000
      1,400 SF

      Commercial Building on Highway Frontage

      1400 sq ft CBS building on thriving US Highway 1.
      2814 S Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $1,000,000

      Historic Downtown Melbourne Property

      10,000+ sq ft, Redevelopment Opportunity
      1016 Brothers Ave, Melbourne, FL 32901
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,875 SF

      Retail Space in Prime Location

      Strategically located retail space in Melbourne/Palm Bay area.
      4850-5000 Stack Blvd, Melbourne, FL 32901
      View Details
    • $49 SF/Yr
      1,100 SF

      Melbourne Commercial Space - Prime Location

      Renovated 1,100 sq ft, Single-Tenant Space
      1225 New Haven Ave, Melbourne, FL 32901
      View Details
    • Contact for pricing
      870 SF

      Neighborhood Shopping Center Retail Space

      Retail space in a neighborhood shopping center for lease.
      765-945 S Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      8,710 SF

      Retail Space in Nasa Plaza

      Retail space available in Melbourne, Florida shopping center.
      765 S Babcock St E, Melbourne, FL 32901
      View Details
    • $17 SF/Yr
      36,250 SF

      Melbourne Retail Space - 3,292 SF

      Prime Melbourne retail space, ideal for various uses.
      1801 Penn St, Melbourne, FL 32901
      View Details
    • $22 SF/Yr
      2,695 SF

      Melbourne Office Space - 1513 SQFT

      Modern Office Suite, Brevard County
      1160 Broadband Dr, 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.
    1046 Hbr City Blvd
    Melbourne, FL 32901-1911
    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

    Google sign-in failed. Please try again or use another login method.