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Property profile & analytics
FOR LEASE
Office buildings
1101 W Hibiscus Blvd Melbourne, FL 32901
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-5902481
For Lease
1 / 23
$18 SF/Yr
1101 W Hibiscus Blvd, Melbourne, FL 32901
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Property summary
AI-generated overview
The Hibiscus Business Center, located at 1101 W Hibiscus Blvd, West Melbourne, FL 32901, offers exceptional executive office space in a prime Brevard County location. This two-building complex, built in 1978, comprises 32,135 total square feet and features 6 suites, with 4,620 square feet currently vacant. Units range from a minimum of 460 square feet to a maximum contiguous space of 1,800 square feet, perfect for businesses of various sizes. The property sits on a 2.34-acre lot and is zoned C1. Amenities include convenient common areas such as restrooms, hallways, elevators, stairwells, and attractive garden seating areas with water fountains. Its strategic location provides easy access to shopping, dining, Melbourne International Airport, and major Brevard County employers. Public transportation is readily available with bus stops conveniently located near the property, complete with a signalized crosswalk. This multi-tenant property offers a blend of traditional and professional office spaces, ideal for a variety of businesses seeking a well-maintained and conveniently located office environment in West Melbourne's thriving submarket.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,110 SF
Lot
2.34 ac (101,930 SF)
Zoning code
C1
APN
28-37-05-00-00001.1-0000.00
UPID
US18-5902481
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Somnomedics Medical Laboratory
-
Veda Salon Hair Salon
-
Sutton Place Salon Hair Salon
-
EveryBody Massage Alternative Medicine Practice Spa & Massage Center
-
IGC Realty Rental Management Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.54M
Blend (final)
Blend
$3.09M
Owner & transaction history
Hibiscus Center LLC · 4 yrs held
Hibiscus Center LLC
since 2021
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
C1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.5M
+27.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,185,000
ML approach
$3,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,515,000
Current use
AUTO REPAIR, GARAGE
$4,495,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$3,450,000
Change: -2% · Conversion: Moderate
MEDICAL BUILDING
$3,220,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$3.09M
Range $2.78M – $3.39M · ±10% · vs last sale $2.80M (Oct 5 2021)
Last sale anchor
$2.80M
Oct 5 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$153 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$39,881
Tax year 2023
Assessed value
$2,430,240
Assessed 2023
Previous assessed
$2,254,290
+7.8% YoY
Effective rate
1.64%
On assessed value
Assessed land
$255,000
Assessed improvement
$2,175,240
Land market value
$255,000
Improvement market value
$2,175,240
Total market value
$2,430,240
Applied tax rate
52.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
3
Units
16
Total area
20,110 SF
Lot
2.34 ac (101,930 SF)
Zoning code
C1
APN
28-37-05-00-00001.1-0000.00
UPID
US18-5902481
Jurisdiction
BREVARD
Zoning & alternative use
C1 · Melbourne, FL
Zoning C1 · permitted uses
C1 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$4.5M
RETAIL STORES
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
2
Units
16
Lot
2.34 ac
Current owner
From public records · entity-resolved
Hibiscus Center LLC
Entity
Mailing address
1420 N OCEAN BLVD, PALM BEACH, FL 33480-3045
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2021
$2,800,000
Hibiscus Center LLC
Wendy Sall Brandon
Warranty Deed
$1,940,000 · Seacoast National Bank
Jun 26, 2019
$100
Shelter,harty E B C Trust
Brandon Harty E Trust
Grant Deed
related
—
Apr 23, 2002
$835,000
Brandon Trust
Dba Systems INC
Grant Deed
$668,000 · Riverside National Bank Fl
—
—
Brandon Harry E Trust
—
Deed Of Trust
related
$1,300,000 · Wachovia Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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