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    Property profile & analytics

    1277 Cypress Ave Melbourne, FL 32935-5809

    • Strip malls
    • 5,228 SF
    • 0.47 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5516045
    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

    • Strip malls

    Property Details for 1277 Cypress Ave

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.47 lot acres
    Property size
    5,228 SF
    Zone code
    C2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    27-37-21-25-0000E.0-0003.00
    APU
    273721250000E0000300

    Description

    This exceptional retail property, located at 1277 Cypress Ave in Melbourne, Florida, presents a unique investment opportunity. The 10,079 square foot building, constructed in 1959, offers eight individual suites, perfect for a variety of businesses. The flexible space allows for multiple tenancy options, with a minimum divisible space of 820 square feet and a maximum contiguous space of 2,543 square feet. The property is zoned C2, providing versatility for various commercial uses. Its convenient location on Cypress Avenue offers excellent visibility, particularly from the heavily trafficked Eau Gallie Boulevard. The property's proximity to a Starbucks further enhances its appeal and accessibility. The property's address is 1277 Cypress Ave, Melbourne, FL 32935, and its parcel number is 27-37-21-25-E-3 in Brevard County. Six spaces are currently available, providing immediate occupancy potential for prospective tenants. This property is an ideal choice for entrepreneurs seeking a high-visibility location in a thriving Melbourne commercial district. The building's solid construction and established location make it a sound investment for long-term growth. Contact us today to learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $375,000
      Market price range: $211k - $512k

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6309
    Latitude
    28.128
    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
    $8,162
    $122,470
    $345,110
    $467,580
    -
    $122,470
    $345,110
    $467,580

    Comparable in this City

    • Value Estimation
      $510,000
      5,413 SF

      28 Laurie St

      SHOPPING CENTER, STRIP CENTER • 5,413 SF
      28 Laurie St, Melbourne, FL 32935-6738
      View Details
    • Value Estimation by Request
      18,444 SF

      4100 Wickham Rd Ste, Unit 123

      SHOPPING CENTER, STRIP CENTER • 18,444 SF
      4100 Wickham Rd Ste, Melbourne, FL 32935-2483
      View Details
    • Value Estimation
      $7,000,000
      53,744 SF

      3440 Hbr City Blvd

      SHOPPING CENTER, STRIP CENTER • 53,744 SF
      3440 Hbr City Blvd, Melbourne, FL 32935-5713
      View Details
    • Value Estimation
      $860,000
      27,616 SF

      401 Wickham Rd

      SHOPPING CENTER, STRIP CENTER • 27,616 SF
      401 Wickham Rd, Melbourne, FL 32935-8627
      View Details
    • Value Estimation
      $870,000
      35,375 SF

      642 Wickham Rd

      SHOPPING CENTER, STRIP CENTER • 35,375 SF
      642 Wickham Rd, Melbourne, FL 32935-8771
      View Details
    • Value Estimation
      $250,000
      1,166 SF

      522 Babcock St

      SHOPPING CENTER, STRIP CENTER • 1,166 SF
      522 Babcock St, Melbourne, FL 32935-6839
      View Details

    Similar Nearby for Sale

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    • New
      $200,000
      3,500 SF

      Established Restaurant in High-Traffic Plaza

      Turn-key restaurant opportunity in Melbourne, Florida with loyal customer base.
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    Similar Nearby for Lease

    • Contact for pricing
      3,400 SF

      Retail Space Near Amazon Center

      Neighborhood shopping center with high visibility and multiple access points.
      1270 N Wickham Rd, Melbourne, FL 32935
      View Details
    • Contact for pricing
      14,781 SF

      Retail Space in Northgate Center

      Retail space available in Melbourne's Northgate Shopping Center.
      1874 N Wickham Rd, Melbourne, FL 32935
      View Details
    • $14 SF/Yr
      80,196 SF

      Melbourne Office Space for Lease

      Prime Office Space, Beachfront Access
      1220 Sarno Rd, Melbourne, FL 32935
      View Details
    • $114,100

      Retail Space Near Airport

      Retail spaces available in a high-traffic location near Melbourne Airport.
      1202-1292 Sarno Rd, Melbourne, FL 32935
      View Details
    • $35 SF/Yr
      1,850 SF

      Highland Avenue Retail Space

      Prime EGAD location, 1850 sq ft.
      1406 Highland Ave, Melbourne, FL 32935
      View Details
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    Melbourne, FL 32935-5809
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    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
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