Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    1415 Hickory St Melbourne, FL 32901-3225

    • Assisted living facilities
    • 39,224 SF
    • 2.47 lot acres
    OFF-MARKET
    Last Sale
    Apr 08, 2022
    $13,688,695
    Value Estimations
    $14,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0473410
    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

    • Bedrock Rehabilitation & Nursing Center at Melbourne / Rehabilitation Center / Wellness Center
    • Carnegie Gardens Nursing Center (Nurse: Mildred) / Nursing Home / Professional Services
    • bedrock rehab / Parking Lot

    Property Details for 1415 Hickory St

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.47 lot acres
    Property size
    39,224 SF
    Zone code
    RP
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    27-37-34-00-00779.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,180,000
      ML approach
      $9,670,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6128
    Latitude
    28.0867
    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
    $65,280
    $806,700
    $1,504,820
    $2,311,520
    -
    $806,700
    $1,504,820
    $2,311,520

    Comparable in this City

    • Value Estimation
      $840,000
      43,208 SF

      1765 Hibiscus Blvd

      HOMES (RETIRED, NURSING) • 43,208 SF
      1765 Hibiscus Blvd, Melbourne, FL 32901-2616
      View Details
    • Value Estimation
      $825,000
      38,682 SF

      606 Sheridan Rd

      HOMES (RETIRED, NURSING) • 38,682 SF
      606 Sheridan Rd, Melbourne, FL 32901-3227
      View Details
    • Value Estimation
      $255,000
      2,437 SF

      1611 Elizabeth St, Unit 103

      HOMES (RETIRED, NURSING) • 2,437 SF
      1611 Elizabeth St, Melbourne, FL 32901-4314
      View Details
    • Value Estimation
      $980,000
      52,763 SF

      4251 Stack Blvd

      HOMES (RETIRED, NURSING) • 52,763 SF
      4251 Stack Blvd, Melbourne, FL 32901-8526
      View Details
    • Value Estimation
      $1,215,000
      74,928 SF

      101 Florida Ave

      HOMES (RETIRED, NURSING) • 74,928 SF
      101 Florida Ave, Melbourne, FL 32901-8301
      View Details
    • Value Estimation
      $1,015,000
      112,308 SF

      615 New Hvn Ave

      HOMES (RETIRED, NURSING) • 112,308 SF
      615 New Hvn Ave, Melbourne, FL 32901-5475
      View Details

    Similar Nearby for Sale

    • New
      $75,000

      Commercial Land in Melbourne, FL

      Commercial land suitable for various development projects in Melbourne, FL.
      # Nieman Ave, Melbourne, FL 32901
      View Details
    • Contact for pricing
      374,616 SF

      Melbourne Senior Living Development

      8-Acre Mixed-Use Redevelopment Opportunity
      3999 Babcock St, Melbourne, FL 32901
      View Details
    • $1,500,000
      4,948 SF

      Versatile Commercial Property in Melbourne

      Former nursing school suitable for educational, medical, or professional use.
      111 Scott St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      609,840 SF

      Cherry Valley Turnpike Office Space

      Prime Marcellus Office/Retail Opportunity
      3999 Babcock St, Melbourne, FL 32901
      View Details
    • $450,000

      Melbourne Retail Land Opportunity

      6,000 SF Pad Ready for Development
      1100 Broadband Dr, Melbourne, FL 32901
      View Details
    • $900,000
      1.50 Acres

      Melbourne Commercial Land - 1.5 Acres

      Prime 1.5-acre commercial lot near Melbourne Airport.
      1737 Hibiscus Blvd, Melbourne, FL 32901
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      21,114 SF

      Melbourne Office Space Available

      1,200 SF Medical/Creative Office Suite
      551 Apollo Blvd, Melbourne, FL 32901
      View Details
    • $23 SF/Yr
      7,930 SF

      Melbourne Office Space: 3 Suites Available

      New Construction, Flexible Suites, Ample Parking
      4070 Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      4,750 SF

      Melbourne Office Space for Lease

      Prime Hibiscus Blvd location, flexible office suites.
      1800 Hibiscus Blvd, Melbourne, FL 32901
      View Details
    • $25 SF/Yr
      71,989 SF

      Melbourne Office Space: River Views

      Executive & Medical Suites Available.
      709 Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $15 SF/Yr
      900 SF

      Downtown Melbourne Warehouse Space

      900 sq ft Warehouse - Ideal for Storage
      621 Palmetto Ave, Melbourne, FL 32901
      View Details
    • $17 SF/Yr
      1,210 SF

      Melbourne Office Space - NASA Blvd

      Prime Office, 1210 sq ft, Melbourne
      175 Nasa Blvd, Melbourne, FL 32901
      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.
    1415 Hickory St
    Melbourne, FL 32901-3225
    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.