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

    1220 Wickham Rd West Melbourne, FL 32904-2443

    • Truck terminals
    • 3,330 SF
    • 0.98 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2023
    $600,000
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2915615
    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

    • Gary Electric Co Inc / Contractor / Electrician

    Property Details for 1220 Wickham Rd

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.98 lot acres
    Property size
    3,330 SF
    Zone code
    C2
    Property type
    Truck terminals
    APN
    27-36-36-77-0000B.0-0005.00
    APU
    273636770000B0000500

    Description

    This exceptional single-tenant retail property, located at 1220 S Wickham Road, offers 2,480 square feet of versatile commercial space. Situated on a 0.98-acre lot, this one-story building (APN 27-36-36-77-B-5) presents a fantastic opportunity for businesses seeking a prominent location. Currently available for lease at a rate of $12.00 per square foot (plus sales tax) for the entire building, the property benefits from its convenient location between Elis Road and State Road 192. The landlord is open to subdividing the space, with a minimum of 826 square feet available at a lease rate of $14.21 per square foot. This flexible arrangement caters to a range of business needs and sizes. Furthermore, significant renovations are planned for the near future, enhancing the property's appeal and functionality. The landlord is also willing to consider tenant improvement allowances (TI) to customize the space to meet specific tenant requirements. The property is zoned Commercial Wickham, ensuring compliance with local regulations. This is an ideal opportunity to establish or expand your business in a high-traffic area with excellent visibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $520,000
      ML approach
      $525,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $423,000
      Market price range: $186k - $424k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $745,000
      OFFICE BUILDING
      $675,000
      RETAIL STORES
      $570,000
      MEDICAL BUILDING
      $535,000
      NEIGHBORHOOD: SHOPPING CENTER
      $455,000
      WAREHOUSE, STORAGE
      $370,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6731
    Latitude
    28.087
    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
    $6,738
    $234,090
    $148,440
    $382,530
    -
    $234,090
    $148,440
    $382,530

    Comparable in this City

    • Value Estimation
      $625,000
      20,000 SF

      600 Distribution Dr

      TRUCK TERMINAL (MOTOR FREIGHT) • 20,000 SF
      600 Distribution Dr, Melbourne, FL 32904-1179
      View Details
    • Value Estimation by Request
      14,779 SF

      7070 Industrial Rd

      TRUCK TERMINAL (MOTOR FREIGHT) • 14,779 SF
      7070 Industrial Rd, West Melbourne, FL 32904-1617
      View Details
    • Value Estimation
      $955,000
      26,250 SF

      7803 Ellis Rd, Unit C

      TRUCK TERMINAL (MOTOR FREIGHT) • 26,250 SF
      7803 Ellis Rd, West Melbourne, FL 32904-1112
      View Details
    • Value Estimation by Request
      4,150 SF

      109 Clayton Rd Landfl Rd

      TRUCK TERMINAL (MOTOR FREIGHT) • 4,150 SF
      109 Clayton Rd Landfl Rd, Melbourne, FL 32904
      View Details
    • Value Estimation
      $965,000
      38,235 SF

      6933 Old Nasa Blvd

      TRUCK TERMINAL (MOTOR FREIGHT) • 38,235 SF
      6933 Old Nasa Blvd, Melbourne, FL 32904
      View Details
    • Value Estimation by Request
      4,180 SF

      7615 Industrial Rd, Unit 103

      TRUCK TERMINAL (MOTOR FREIGHT) • 4,180 SF
      7615 Industrial Rd, West Melbourne, FL 32904-1628
      View Details

    Similar Nearby for Sale

    • $420,000

      Melbourne Industrial Land - $420K

      Prime Melbourne location, 30,492 sq ft lot, ideal for warehousing.
      0000 Commerce Dr, Melbourne, FL 32904
      View Details
    • $420,000

      Melbourne Industrial Land for Sale

      Prime 0.7-acre lot, ideal for warehousing.
      0000 Commerce Dr, Melbourne, FL 32904
      View Details
    • $12,000,000

      Melbourne Industrial Land - $12M

      Prime 41-acre industrial site in Melbourne, FL
      9035 Ellis Rd, Melbourne, FL 32904
      View Details
    • $550,000
      5,376 SF

      Melbourne Warehouse Condo Investment

      High-yield warehouse, excellent location.
      700 John Rodes Blvd, Melbourne, FL 32904
      View Details
    • $420,000

      Melbourne Industrial Land - $420K

      Prime Melbourne location, 30,492 sq ft lot.
      0000 Commerce Dr, Melbourne, FL 32904
      View Details
    • $420,000
      0.70 Acres

      Melbourne Industrial Land Parcel

      0.7-Acre Industrial Lot, $420K
      0 Lot 3 - Commerce Dr, Melbourne, FL 32904
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      6,455 SF

      Industrial Building in Melbourne Corridor

      6,455 SF industrial building in Melbourne's primary industrial corridor.
      515 Distribution Dr, Melbourne, FL 32904
      View Details
    • $15 SF/Yr
      23,569 SF

      Industrial Warehouse Space Available

      69,142 SF industrial space for lease in Melbourne, FL.
      7856 Ellis Rd, Melbourne, FL 32904
      View Details
    • Contact for pricing
      225,600 SF

      Prime Melbourne Industrial Warehouse

      Two Class A warehouses, 79,200-146,400 SF
      650 John Rodes Blvd, Melbourne, FL 32904
      View Details
    • $15 SF/Yr
      11,320 SF

      Melbourne Industrial Flex Space

      1,238 SF - South Brevard, FL
      700 Atlantis Rd, Melbourne, FL 32904
      View Details
    • $11 SF/Yr
      10,000 SF

      West Melbourne Warehouse with Office

      10,000 SF warehouse with 2,100 SF office space.
      7100-7600 Technology Dr, West Melbourne, FL 32904
      View Details
    • $9 SF/Yr
      20,000 SF

      Melbourne Flex/Industrial Space For Lease

      20,000 SF flex/industrial space available for lease in Melbourne.
      800 Commerce Dr, Melbourne, FL 32904
      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.
    1220 Wickham Rd
    West Melbourne, FL 32904-2443
    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.