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Property profile

1800 Penn St Melbourne, FL 32901

OFF-MARKET
Warehouses
Property ID
US18-5079925
41,079 SF 3.34 ac lot Built 1986
Individually Owned 13-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional Class A, 40,000-square-foot industrial/office property, situated on 3.34 acres in Brevard County's Space Coast submarket, offers a unique opportunity. Currently, 31,000 square feet of flexible space is available for lease, divisible into units as small as 11,000 square feet and expandable up to a contiguous 31,000 square feet. The single-story, 1986-built building boasts a 15' 8" ceiling height (floor to bottom of truss), six drive-in doors, and five 12' x 12' grade-level doors, plus one 10' wide x 9' tall door. The property features 87 paved, striped, and lighted parking spaces. Utilities include 3-phase FPL power, city water, and sewer. The building is 100% HVAC and fire sprinklered. Zoned M-1, the property offers excellent visibility with 468 feet of frontage on Penn Street, easily accessible from Gateway Drive. Potential tenants will find a variety of configurations possible, including office, manufacturing, and warehouse space. One unit offers approximately 20,000 square feet, combining office, manufacturing, and warehouse areas. Another unit provides approximately 11,000 square feet of warehouse space with a concrete floor. Landlord may offer tenant improvement allowances, subject to lease terms and tenant credit. This property is ideal for businesses seeking versatile and well-equipped space in a prime location.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1986
Construction CONCRETE
Total area 41,079 SF
Lot 3.34 ac (145,490 SF)
Zoning code M1
APN 27-37-32-50-00000.0-0003.00
UPID US18-5079925

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Auto Repair Shop (Bike/Boat/Book/etc) Store
  • Medical Clinic
  • Construction Company General Contractor
  • Foster Care Service Social Service Agency
  • Physician

Location

1800 Penn St Melbourne, FL 32901-2643
Melbourne metro Census 64702 PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.27M
Blend (final) Blend
$3.05M

Owner & transaction history

since 2013
2 recorded transactions
2013
$789,000
1969
Price N/A

Zoning & alternative use

M1 · Melbourne, FL
Zoning description

The provisions of this district are intended to apply to an area located in close proximity to rail, air or major roadway facilities and which can serve intensive commercial uses and light manufacturing, warehousing, dis…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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