Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2255 Coastal Ln West Melbourne, FL 32904-6102

    • Hotels
    • 58,607 SF
    • 2.79 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2022
    $15,250,000
    Value Estimations
    $13,700,000
    Show details
    Cap Rate Potential
    3.5%
    Hotels
    Location Intelligence
    Property ID
    US18-8149535
    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

    • Hotels

    Property Details for 2255 Coastal Ln

    Year built
    2017
    Construction
    WOOD
    Lot size
    2.79 lot acres
    Property size
    58,607 SF
    Property type
    Hotels
    APN
    28-36-02-53-00000.0-0000H.2
    APU
    283602530000000000H2

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,070,000
      ML approach
      $9,655,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,513,000
      Market price range: $11.2M - $22.2M
      AI Estimate
      $8,449,000
      Market price range: $1.05M - $12.8M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $15,440,000
      Current use
      RESTAURANT
      $22,395,000
      Change: +45% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $18,145,000
      Change: +18% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $13,095,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    West Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.702
    Latitude
    28.0766
    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
    $157,608
    $972,320
    $10,241,130
    $11,213,450
    -
    $972,320
    $10,241,130
    $11,213,450

    Comparable in this City

    • Value Estimation
      $8,195,000
      59,529 SF

      4520 Durham Dr

      HOTEL • 59,529 SF
      4520 Durham Dr, West Melbourne, FL 32904-7611
      View Details
    • Value Estimation
      $6,305,000
      54,296 SF

      4450 Hollywood Blvd

      HOTEL • 54,296 SF
      4450 Hollywood Blvd, West Melbourne, FL 32904-9128
      View Details
    • Value Estimation
      $5,925,000
      62,713 SF

      4431 New Hvn Ave

      HOTEL • 62,713 SF
      4431 New Hvn Ave, West Melbourne, FL 32904-3321
      View Details
    • Value Estimation
      $4,685,000
      45,381 SF

      1701 Evans Rd

      HOTEL • 45,381 SF
      1701 Evans Rd, Melbourne, FL 32904-3833
      View Details
    • Value Estimation
      $4,685,000
      37,199 SF

      4500 New Hvn Ave

      HOTEL • 37,199 SF
      4500 New Hvn Ave, Melbourne, FL 32904-3324
      View Details
    • Value Estimation
      $7,815,000
      55,076 SF

      2265 Coastal Ln

      HOTEL • 55,076 SF
      2265 Coastal Ln, West Melbourne, FL 32904-6102
      View Details

    Similar Nearby for Sale

    • $9,900,000

      Melbourne Retail/Hotel Land Opportunity

      Prime 8.87-acre commercial lot, ideal for diverse uses.
      3865 New Haven Ave, Melbourne, FL 32904
      View Details
    • $135,000
      0.69 Acres

      Vacant Lot in West Melbourne

      Vacant lot ready for development in a desirable Melbourne location.
      4010 Miami Ave, Melbourne, FL 32904
      View Details
    • $474,900

      Melbourne Office & Land Investment

      Prime Location, High Traffic, Ample Parking
      110 Bry Lynn Dr, Melbourne, FL 32904
      View Details
    • $2,500,000

      Prime Palm Bay Land Investment

      27 Acres, Residential Zoning, I-95 Access
      00 Unknown, Palm Bay, FL 32904
      View Details
    • Contact for pricing

      Land For Sale Melbourne

      Land available for sale in Melbourne, Florida.
      Keystone Ave, Melbourne, FL 32904
      View Details
    • $300,000
      1.34 Acres

      Spacious Lot on Dairy Rd

      1.34-acre lot to build your dream home or invest.
      2561 Dairy Rd, Melbourne, FL 32904
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,425 SF

      Downtown Office Space - Perfect for Your Business

      1425 sq ft Office, Retail Space Available
      51 Carolina St, West Melbourne, FL 32904
      View Details
    • Contact for pricing
      23,569 SF

      Industrial Warehouse Space Available

      69,142 SF industrial space for lease in Melbourne, FL.
      7856 Ellis Rd, Melbourne, FL 32904
      View Details
    • $15 SF/Yr
      46,884 SF

      Oakwood Square Office Space

      West Melbourne Office Suites Available
      1900 Dairy Rd, West Melbourne, FL 32904
      View Details
    • Contact for pricing

      Prime Acreage Near I-95

      Acre for lease near I-95, high-traffic retail area.
      West Melbourne, FL 32904
      View Details
    • Contact for pricing

      Restaurant Building in Melbourne, Florida

      4,676 SF free-standing restaurant building available for rent.
      Melbourne, FL 32904
      View Details
    • Contact for pricing

      Outparcel Opportunities at Premier Malls

      Outparcels available for ground lease or build-to-suit.
      1700 W New Haven Ave, Melbourne, FL 32904
      View Details

    Property Visit Statistics

    • Visits by month
      7.2k
    • Visitors by month
      3.3k
    • Avg Time on site
      483 min
    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.
    2255 Coastal Ln
    West Melbourne, FL 32904-6102
    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!