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Property profile & analytics
FOR LEASE
Warehouses

1801 Penn St Melbourne, FL 32901

37,462 SF 3.92 ac lot Built 1989
Individually Owned 12-yr Hold ~ Est. High Equity
Property ID
US18-4206126
Property summary
AI-generated overview

This exceptional commercial property, located at 1801 Penn Street in Melbourne, Florida, offers 3,292 square feet of vacant space within a larger 36,250 square foot building. Situated on a 3.92-acre lot with 265 feet of frontage on Penn Street and convenient access to Gateway Drive, this Class A property boasts a prime location. Built in 1989, the building features one suite, currently available for lease. The space includes concrete flooring, exposed ceilings reaching 15 feet high (measured from floor to the bottom of the steel truss), and estimated dimensions of approximately 50 feet wide by 65 feet deep. Its strategic location offers easy access to Melbourne International Airport, major employers like Northrop Grumman, L3Harris, and GE, making it highly attractive for businesses seeking a prominent presence in the Space Coast submarket. The property's M-1 zoning allows for a variety of uses, including high-tech, office, engineering, and R&D. A tenant improvement allowance may be available, contingent upon lease terms and tenant creditworthiness. The property's APN is 27-37-32-50-00000.0-0004.00, and it's located in Brevard County, Florida, zip code 32901.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1989
Construction CONCRETE
Total area 37,462 SF
Lot 3.92 ac (170,755 SF)
Zoning code M1
APN 27-37-32-50-00000.0-0004.00
UPID US18-4206126
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Solis Emergency Furnace Repair Big Box & Wholesale Store Building Supply
  • CTG (Bike/Boat/Book/etc) Store Corporate Office
  • Gauzy Industrial Manufacturer Production Facility
  • Subaru training center Association / Organization
  • Adma Wilson-Romans Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.97M
Comparable Approach Comparable
$3.02M
Blend (final) Blend
$3.51M
Owner & transaction history
Penn Court Assocs Henderson II · 12 yrs held
Penn Court Assocs Henderson II
since 2014
4 recorded transactions
2016
Price N/A
2014
$866,208
1969
Price N/A
1969
Price N/A
Zoning & alternative use
M1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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