Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    1905 Municipal Ln, Unit 101 Melbourne, FL 32901-4743
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1905 Municipal Ln, Unit 101 Melbourne, FL 32901-4743

    View on Map
    • Retail space
    • 4,060 SF
    • 0.12 lot acres
    Off-Market
    Property ID
    US19-0643471
    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
    $740,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Oggi Salon / Hair Salon
    • Downtowns Finest Barber and Tattoo Shop / Barber Shop
    • High Noon Tattoo Parlor LLC / Tattoo & Piercing Shop
    • Pannamore Imports / Big Box & Wholesale Store
    • Litebox Studio / Photography Service / (Bike/Boat/Book/etc) Store

    Property Details for 1905 Municipal Ln

    Year built
    1947
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.12 lot acres
    Property size
    4,060 SF
    Zone code
    C3
    Property type
    Retail space
    APN
    28-37-03-FD-00020.0-0009.00
    APU
    283703FD000200000900

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $780,000
      6.5%
      $720,000
      7%
      $670,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $918,000
      Market price range: $362k - $1.05M
      AI Estimate
      $577,000
      Market price range: $199k - $673k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $695,000
      Current use
      AUTO REPAIR, GARAGE
      $905,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $710,000
      Change: +2% Conversion: Easy
      MEDICAL BUILDING
      $650,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6059
    Latitude
    28.079
    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
    $9,368
    $153,000
    $368,740
    $521,740
    -
    $153,000
    $368,740
    $521,740

    Comparable in this City

    • Value Estimation by Request
      580 SF

      2308 Hbr City Blvd

      RETAIL STORES (PERSONAL SERVICES) • 580 SF
      2308 Hbr City Blvd, Melbourne, FL 32901
      View Details
    • Value Estimation
      $1,605,000
      15,895 SF

      454 Nieman Ave

      RETAIL STORES (PERSONAL SERVICES) • 15,895 SF
      454 Nieman Ave, Melbourne, FL 32901
      View Details
    • Value Estimation
      $1,550,000
      8,964 SF

      15 Hibiscus Blvd

      RETAIL STORES (PERSONAL SERVICES) • 8,964 SF
      15 Hibiscus Blvd, Melbourne, FL 32901-3017
      View Details
    • Value Estimation by Request
      2,040 SF

      665 University Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,040 SF
      665 University Blvd, Melbourne, FL 32901-7121
      View Details
    • Value Estimation
      $1,830,000
      13,008 SF

      141 Hibiscus Blvd

      RETAIL STORES (PERSONAL SERVICES) • 13,008 SF
      141 Hibiscus Blvd, Melbourne, FL 32901-3102
      View Details
    • Value Estimation
      $760,000
      5,950 SF

      1612 Babcock St

      RETAIL STORES (PERSONAL SERVICES) • 5,950 SF
      1612 Babcock St, Melbourne, FL 32901-4439
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,200 SF

      Stand Alone Commercial Building

      7,200 SF commercial building with flexible zoning.
      701 S Apollo Blvd, Melbourne, FL 32901
      View Details
    • $2,149,000
      8,607 SF

      Mixed-Use Property with High Exposure

      Mixed-use property with commercial and residential units in high-traffic area.
      2016 Melbourne Ct, Melbourne, FL 32901
      View Details
    • Contact for pricing
      4,673 SF

      Retail Assemblage on New Haven

      Three properties zoned C2 with high visibility and traffic.
      780 W New Haven Ave, Melbourne, FL 32901
      View Details
    • Contact for pricing
      1,400 SF

      Retail/Commercial Building on Highway Front

      1400 sq ft building on half-acre lot with parking.
      2814 S Harbor City Blvd, Melbourne, FL 32901
      View Details
    • Contact for pricing
      4,160 SF

      Downtown Melbourne Mixed-Use Opportunity

      Mixed-use property in Downtown Melbourne with owner financing available.
      604 E New Haven Ave, Melbourne, FL 32901
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      870 SF

      Retail Space in Busy Location

      Retail space in a newly renovated building with high traffic.
      404-410 S Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      8,710 SF

      Retail Space in Nasa Plaza

      Retail space available in Melbourne, Florida shopping center.
      765 S Babcock St E, Melbourne, FL 32901
      View Details
    • Contact for pricing

      Prime Retail Outparcels For Lease

      Outparcels available across from Publix-anchored Melbourne Shopping Center.
      60 West Hibiscus Blvd, Melbourne, FL 32901
      View Details
    • Contact for pricing
      2,200 SF

      New Construction Retail Space Available

      Retail space in new mixed-use building near thriving businesses.
      1425 Sportsman Ln NE, Palm Bay, FL 32901
      View Details
    • Contact for pricing
      69,900 SF

      Neighborhood Shopping Center Retail Space

      Retail space in a neighborhood shopping center for lease.
      765-945 S Babcock St, Melbourne, FL 32901
      View Details
    • $27 SF/Yr
      1,000 SF

      Prime Commercial Space in Melbourne

      Versatile commercial space suitable for retail, office, or restaurant.
      826 E New Haven Ave, 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.
    1905 Municipal Ln, Unit 101
    Melbourne, FL 32901-4743
    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.
    Sign Up Successful!
    You now have access to more from Realmo!