Property profile

1220 Prospect Ave Melbourne, FL 32901

FOR LEASE
Office buildings
Saved see the list in your Dashboard
Property ID
US18-6101185
43,218 SF 1.91 ac Built 1926
Last sale Jul 2006·$270,000
Individually Owned Owner of record is an individual. 20-yr Hold Held for 20 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
Market Trends Soon

Property summary

AI-generated overview

The property is an office space positioned for access to major roadways including US-1, NASA Boulevard, the Eau Gallie and Melbourne Causeways, and Interstate 95. It is located near Downtown Melbourne and US-1, with proximity to Melbourne International Airport and its business park, as well as the Palm Bay Industrial area. The surrounding area includes established employers and technology and government-adjacent businesses such as GE, DRS, Northrop Grumman, L3 Rockwell, Harris, Ricoh, Iron Mountain, and MC.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$39k
Tax billed · 2023
Assessed value$2.23M
Assessed land$499k
Assessed improvement$1.73M
Effective rate1.76%

Value estimate

· Nov 2026
$4.65M
$4.18M – $5.11M
Submarket $/SF estimate$5.86M
NOI build-up
Gross scheduled income$5k
Vacancy & credit loss−$392
Operating expenses−$1k
NOI$3k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$175/SF
ZIP average, outlier-cleaned · 50 recorded sales of this use type
Observed band · Q1–Q3$136 – $246

Cap rate analysis

How does the asset earn?
$3k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
C3
This district is intended to apply to the central commercial, professional, financial, governmental and civic core of the city. Lot and b...
General categoryCIVIC_INSTITUTIONAL
JurisdictionBREVARD

Location intelligence

Which uses thrive at this corner?
Best fit: Storage Facility
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Storage Facility12.5
Wholesale Shop12.2
Auto Parts Store12.1

Location

1220 Prospect Ave Melbourne, FL 32901
County assessor Recorded deeds · 6 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1775 Hibiscus, Melbourne, FL 32901-2620 $3,125,000 May 2025 36,924 SF
1735 Hibiscus, Melbourne, FL 32901-2612 $3,100,000 Oct 2024 18,163 SF
27 Hibiscus Blvd, Melbourne, FL 32901-3171 $3,919,500 Sep 2024 16,301 SF
940 Hbr City, Melbourne, FL 32901-1909 $1,500,000 May 2024 6,622 SF
2101 Waverly, Melbourne, FL 32901-5480 $1,700,000 Feb 2024 10,424 SF
1221 New Hvn, Melbourne, FL 32901-7305 $850,000 Aug 2022 6,100 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Research This Page with AI

Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

Ask Rey → ChatGPT Grok Claude
Preferred Make Realmo a preferred source.

Our comps and market reports get this label in your Google results.

Add as a preferred source on Google One click on Google
Why this one?
Saved