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Property profile & analytics
FOR SALE
Office buildings
2015 Waverly Pl Melbourne, FL 32901
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-5537980
For Sale
1 / 71
$3,499,900
2015 Waverly Pl, Melbourne, FL 32901
View Listing →
Property summary
AI-generated overview
This exceptional Class A mixed-use commercial property, located in the heart of Downtown Melbourne, FL, presents a rare investment opportunity. Spanning 13,765 square feet on a 0.77-acre lot, this single-story building underwent extensive renovations in 2016, boasting updated electrical systems, HVAC, hurricane-impact windows and doors, and premium finishes. The thoughtfully designed space includes separate showrooms, office areas, a fully equipped kitchen, and warehouse space with a convenient loading dock. Dual access from Waverly Place and Vernon Place provides ample parking, a significant advantage in the downtown area. The property's permitted zoning is Commercial/Residential/Office, offering flexibility for future use. Built in 1953, this meticulously maintained building offers a blend of historic charm and modern functionality. Its prime location within Melbourne's vibrant business district ensures strong rental income potential. This sale includes the real estate only, providing a chance to acquire a high-demand, income-generating asset in a thriving market. The property's size and features make it ideal for a variety of businesses seeking a prominent presence in Downtown Melbourne. The substantial lot size offers potential for future expansion or development. This is a truly unique opportunity to own a piece of Melbourne's thriving commercial landscape. The asking price is $3,999,900.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,219 SF
Lot
0.77 ac (33,541 SF)
Zoning code
C3
APN
28-37-03-82-00046.0-0006.00
UPID
US18-5537980
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
-
American Business Interiors Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.56M
CAP Approach
CAP
$3.18M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$2.64M
Owner & transaction history
2015 Waverly Place LLC · 4 yrs held
2015 Waverly Place LLC
since 2022
Last sale
$2.8M
5 recorded transactions
Zoning & alternative use
C3 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.2M
+27.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,380,000
ML approach
$2,555,000
CAP Approach
CAP Return
Estimation
6%
$3,440,000
6.5%
$3,175,000
7%
$2,950,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,485,000
Current use
AUTO REPAIR, GARAGE
$3,175,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$2,440,000
Change: -2% · Conversion: Moderate
MEDICAL BUILDING
$2,275,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$2.64M
Range $2.37M – $2.90M · ±10% · vs last sale $2.80M (May 31 2022)
Last sale anchor
$2.80M
May 31 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$185 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$26,099
Tax year 2023
Assessed value
$1,277,220
Assessed 2023
Previous assessed
$851,430
+50.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$1,012,500
Assessed improvement
$264,720
Land market value
$1,012,500
Improvement market value
$264,720
Total market value
$1,277,220
Applied tax rate
34.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
2
Units
1
Total area
14,219 SF
Lot
0.77 ac (33,541 SF)
Zoning code
C3
APN
28-37-03-82-00046.0-0006.00
UPID
US18-5537980
Jurisdiction
BREVARD
Zoning & alternative use
C3 · Melbourne, FL
Zoning C3 · permitted uses
C3 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$3.2M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
0.77 ac
Current owner
From public records · entity-resolved
2015 Waverly Place LLC
Entity
Mailing address
4828 ASHFORD DUNWOODY RD STE #200, ATLANTA, GA 30338-4833
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2022
$2,800,000
2015 Waverly Place LLC
Susan F Perers
Warranty Deed
—
Dec 11, 2020
—
Susan F Perers
Susan F Perers
Quit Claim Deed
related
—
—
—
Ralph S Perers
—
Deed Of Trust
related
$450,000 · Admiralty Bank
—
—
Ralph S Perers
—
Deed Of Trust
related
$243,066 · Rbc Centura Bank
—
—
Ralph S Perers
—
Deed Of Trust
related
$555,000 · Td Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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