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    2280 Wilhelmina Ct NE Melbourne, FL 32905
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    2280 Wilhelmina Ct NE Melbourne, FL 32905

    View on Map
    • Truck terminals
    • 69,880 SF
    • 5.78 lot acres
    For Lease
    $9 SF/Yr
    View Listing →
    Melbourne Warehouse Space For Lease For Lease
    $9 SF/Yr
    23,750 SF

    Melbourne Warehouse Space For Lease

    Available warehouse space in Melbourne, Florida, with flexible leasing options.

    2280 Wilhelmina Ct NE, Melbourne, FL 32905
    View Listing
    Property ID
    US18-6085187
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Truck terminals

    Property Details for 2280 Wilhelmina Ct NE

    Year built
    1975
    Construction
    FRAME
    Lot size
    5.78 lot acres
    Property size
    69,880 SF
    Zone code
    H1
    Property type
    Truck terminals
    APN
    28-37-11-00-00755.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,033,000
      Market price range: $2.63M - $6.75M

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.5938
    Latitude
    28.0569
    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
    $67,209
    $415,430
    $3,886,760
    $4,302,190
    -
    $415,430
    $3,886,760
    $4,302,190

    Comparable in this City

    • Value Estimation
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      33,600 SF

      1720 Main NE St

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      1720 Main NE St, Palm Bay, FL 32905-3427
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    • Value Estimation
      $1,405,000
      23,956 SF

      2620 Kirby NE Cir

      TRUCK TERMINAL (MOTOR FREIGHT) • 23,956 SF
      2620 Kirby NE Cir, Palm Bay, FL 32905-3404
      View Details
    • Value Estimation
      $1,410,000
      30,303 SF

      2591 Kirby NE Cir

      TRUCK TERMINAL (MOTOR FREIGHT) • 30,303 SF
      2591 Kirby NE Cir, Palm Bay, FL 32905-3401
      View Details
    • Value Estimation by Request
      3,600 SF

      2596 Kirby NE Cir

      TRUCK TERMINAL (MOTOR FREIGHT) • 3,600 SF
      2596 Kirby NE Cir, Palm Bay, FL 32905-3416
      View Details
    • Value Estimation by Request
      8,000 SF

      2685 Rowena NE Dr

      TRUCK TERMINAL (MOTOR FREIGHT) • 8,000 SF
      2685 Rowena NE Dr, Palm Bay, FL 32905-2517
      View Details
    • Value Estimation
      $565,000
      3,800 SF

      2090 Northview NE St

      TRUCK TERMINAL (MOTOR FREIGHT) • 3,800 SF
      2090 Northview NE St, Palm Bay, FL 32905-2606
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,734 SF

      Palm Bay Industrial Asset

      Single-tenant, net-leased industrial property in a rapidly growing Florida market.
      2575 Doreatha Fields Ave, Palm Bay, FL 32905
      View Details
    • $2,925,000

      Palm Bay Warehouse Units

      Eleven warehouse units totaling 17,482 SF for sale.
      2720 Kirby Cir NE, Palm Bay, FL 32905
      View Details
    • $109,900
      0.78 Acres

      Cleared Lot Near Intercoastal

      Cleared 0.78-acre lot near US1 and Intercoastal in Palm Bay.
      2350 Shenandoah Rd NE, Palm Bay, FL 32905
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      480 SF

      Palm Bay Warehouse Space for Lease

      480 sq ft Warehouse - $750/month
      4155 Dow Rd, Palm Bay, FL 32905
      View Details
    • $18 SF/Yr
      1,000 SF

      Melbourne Warehouse Space For Lease

      1,000 sq ft Warehouse - Dow Rd
      4155 Dow Rd, Palm Bay, FL 32905
      View Details
    • $18 SF/Yr
      480 SF

      Palm Bay Warehouse Space for Lease

      480 sq ft Warehouse, Great Location
      4155 Dow Rd, Palm Bay, FL 32905
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    • $18 SF/Yr
      1,000 SF

      Melbourne Warehouse Space for Lease

      1,000 sq ft Warehouse - Dow Rd
      4155 Dow Rd, Palm Bay, FL 32905
      View Details
    • $18 SF/Yr
      480 SF

      Palm Bay Warehouse For Lease

      480 sq ft Industrial Space, $750/month
      4155 Dow Rd, Palm Bay, FL 32905
      View Details
    • $18 SF/Yr
      800 SF

      Palm Bay Warehouse Space for Lease

      800 sq ft Industrial Warehouse in Melbourne, FL
      4155 Dow Rd, Palm Bay, FL 32905
      View Details
    View Listing
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    Melbourne, FL 32905
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    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
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