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    1313 Croton Rd Melbourne, FL 32935
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    1313 Croton Rd Melbourne, FL 32935

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    • Office buildings
    • 1,480 SF
    • 0.19 lot acres
    For Sale
    $295,000
    View Listing →
    Updated Office Building in Melbourne For Sale
    $295,000
    1,480 SF

    Updated Office Building in Melbourne

    1,480 SF office building with updated interior and seven parking spots.

    1313 Croton Rd, Melbourne, FL
    View Listing
    Property ID
    US18-2915637
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Probate Home Buyers of Brevard / Law Firm
    • Complete Business & Tax Services, Inc. / Accounting Firm / Tax Preparation

    Property Details for 1313 Croton Rd

    Year built
    1959
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.19 lot acres
    Property size
    1,480 SF
    Zone code
    C1A
    Property type
    Office buildings
    APN
    27-37-20-25-0000P.0-0029.00
    APU
    273720250000P0002900

    Description

    This 1,480-square-foot office building, situated on a 0.19-acre lot at 1313 Croton Rd, Melbourne, FL 32935, presents a compelling investment opportunity. Built in 1959 and completely renovated in 2024, the property boasts brand new flooring and baseboards throughout. The single-unit building is zoned C1A and features a versatile layout suitable for a variety of professional uses. The interior includes a reception area, open workspace, kitchen, laundry room, three private offices, one full bathroom, and a half-bath. Its convenient location on Croton Road, near Eau Gallie Boulevard, offers excellent accessibility. The property's history reflects its adaptability, having previously served as a residential home, office, hair salon, chiropractor's office, and spa. This demonstrates its potential to accommodate a wide range of businesses. The building's recent renovation ensures modern functionality and aesthetics, making it an attractive option for both established businesses and new ventures. This is a turnkey opportunity to acquire a well-maintained, updated commercial property in a desirable Melbourne location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6547
    Latitude
    28.1283
    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
    $2,399
    $53,360
    $67,200
    $120,560
    -
    $53,360
    $67,200
    $120,560

    Comparable in this City

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    • Value Estimation
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      1111 General Aviation Dr

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      View Details
    • Value Estimation by Request
      800 SF

      680 Eau Gallie Blvd

      OFFICE BUILDING • 800 SF
      680 Eau Gallie Blvd, Melbourne, FL 32935-6531
      View Details
    • Value Estimation
      $4,090,000
      24,384 SF

      1600 Eau Gallie Blvd

      OFFICE BUILDING (MULTI-STORY) • 24,384 SF
      1600 Eau Gallie Blvd, Melbourne, FL 32935-4106
      View Details
    • Value Estimation
      $965,000
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      4760 Us Hwy 1st 1

      OFFICE BUILDING • 4,810 SF
      4760 Us Hwy 1st 1, Melbourne, FL 32935-7200
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      1571 Aurora Rd

      OFFICE BUILDING • 2,478 SF
      1571 Aurora Rd, Melbourne, FL 32935-5448
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      Office building with rental income potential and detached garage.
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    Similar Nearby for Lease

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      Renovated Stand-Alone Building in Midtown

      Renovated building in Midtown Melbourne with ample parking.
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      Stand-Alone Office Building For Sale

      2,702 SF office building with tenant in place until 2025.
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      Melbourne Retail/Office Space Available

      Retail and office spaces with 24/7 access and ample parking.
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      Renovated Office/Retail Space Available

      Prime frontage on Lake Washington Rd, suitable for office/retail.
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      Medical/Office Space for Lease

      Medical and office spaces available for lease with ample parking.
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      Office Space on Eau Gallie

      Office space available for rent on Eau Gallie Blvd.
      2010 W Eau Gallie Blvd, Melbourne, FL 32935
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    View Listing
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    1313 Croton Rd
    Melbourne, FL 32935
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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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