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

    1051 Hickory St Ste B Melbourne, FL 32901-1962

    • Office Properties & Spaces
    • 2,700 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2993547
    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

    • Health First Diagnostic Center / X-Ray Lab / Medical Diagnostic Imaging Center
    • Dr. Stephen H. Macdonald, DO / Doctor
    • Andrew Schmidt / Gastroenterologist
    • Farhan Israr / Gastroenterologist
    • Alice Spinelli, ARNP / Doctor

    Property Details for 1051 Hickory St Ste B

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.26 lot acres
    Property size
    2,700 SF
    Property type
    Office Properties & Spaces
    APN
    27-37-34-00-00518.B-0000.00
    APU
    2737340000518B000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $366,000
      Market price range: $366k - $664k
      AI Estimate
      $213,000
      Market price range: $141k - $548k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $430,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.615
    Latitude
    28.0922
    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
    $4,237
    $0.00
    $222,750
    $222,750
    -
    $0.00
    $222,750
    $222,750

    Comparable in this City

    • Value Estimation
      $250,000
      330 SF

      2210 Frnt St Ste, Unit 304

      CONDOMINIUM OFFICES • 330 SF
      2210 Frnt St Ste, Melbourne, FL 32901-7505
      View Details
    • Value Estimation
      $255,000
      330 SF

      2210 Frnt St Ste, Unit 307

      CONDOMINIUM OFFICES • 330 SF
      2210 Frnt St Ste, Melbourne, FL 32901-7505
      View Details
    • Value Estimation by Request

      725-769 Apollo Blvd

      Neighborhood centers
      725-769 Apollo Blvd, Melbourne, FL 32901
      View Details
    • Value Estimation by Request
      0.12 Acres

      2308 Babcock 2308 St

      Office Properties & Spaces • 0.12 Acres
      2308 Babcock 2308 St, Melbourne, FL 32901
      View Details
    • Value Estimation
      $240,000
      348 SF

      2210 Frnt St Ste, Unit 103

      CONDOMINIUM OFFICES • 348 SF
      2210 Frnt St Ste, Melbourne, FL 32901-7506
      View Details
    • Value Estimation
      $430,000
      6,000 SF

      1120 Broadband Dr

      CONDOMINIUM OFFICES • 6,000 SF
      1120 Broadband Dr, Melbourne, FL 32901-2623
      View Details

    Similar Nearby for Sale

    • $875,000
      4,070 SF

      Downtown Melbourne Commercial Opportunity

      Two-building commercial property in the heart of Downtown Melbourne.
      604 E New Haven Ave, Melbourne, FL 32901
      View Details
    • $2,500,000
      13,690 SF

      Melbourne Office Portfolio: Prime Investment

      Two-building office complex, 13,690 SF, 100% occupied
      2415 Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      609,840 SF

      Cherry Valley Turnpike Office Space

      Prime Marcellus Office/Retail Opportunity
      3999 Babcock St, Melbourne, FL 32901
      View Details
    • $299,900
      660 SF

      Harbor Center One Office Suite

      Prime Melbourne Office, Stunning Views
      2210 Front St, Melbourne, FL 32901
      View Details
    • $975,000
      3,200 SF

      Medical Office on US-1

      Commercial property with medical build-out, excellent visibility, and access.
      1532 North Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $1,825,000
      9,032 SF

      Office and Restaurant Buildings For Sale

      Two commercial buildings with office and restaurant spaces available.
      805 E Fee Ave, Melbourne, FL 32901
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,210 SF

      Melbourne Office Space - NASA Blvd

      Prime Office, 1210 sq ft, Melbourne
      175 Nasa Blvd, Melbourne, FL 32901
      View Details
    • $26 SF/Yr
      46,114 SF

      Downtown Melbourne Office Space

      Prestigious Executive Suites Available
      1900 Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $50 SF/Yr
      156 SF

      Downtown Melbourne Office Suite

      Executive Suite, Furnished, Move-In Ready
      601 Strawbridge Ave, Melbourne, FL 32901
      View Details
    • $21 SF/Yr
      17,000 SF

      Melbourne Executive Office Space

      Prime Office, 5,987 SF Available
      1735 Hibiscus Blvd, Melbourne, FL 32901
      View Details
    • $22 SF/Yr
      9,357 SF

      Riverview Office Building: Melbourne

      Executive Office Space Available
      1819 Riverview Dr, Melbourne, FL 32901
      View Details
    • $20 SF/Yr
      2,706 SF

      Babcock Street Commercial Spaces

      Retail & Warehouse Suites Available Now
      404 Babcock St, 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.
    1051 Hickory St Ste B
    Melbourne, FL 32901-1962
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.