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

    2401 Hbr City Blvd Melbourne, FL 32935-6657

    • Schools
    • 16,241 SF
    • 5.23 lot acres
    OFF-MARKET
    Last Sale
    Aug 29, 2023
    $2,200,000
    Value Estimations
    $1,790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5105499
    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

    • Melissa Knoll / Physician / Medical Clinic
    • Center for Spiritual Living Space Coast / Church / Mosque
    • Platinum Show Chorus / Music Venue / Theater & Performing Art Venue
    • CBE Life Coaching & Counseling / Counselor

    Property Details for 2401 Hbr City Blvd

    Year built
    1989
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.23 lot acres
    Property size
    16,241 SF
    Zone code
    CP
    Property type
    Schools
    APN
    27-37-09-00-00538.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,685,000
      ML approach
      $1,770,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,105,000
      Market price range: $473k - $1.62M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,670,000
      COMMERCIAL (GENERAL)
      $2,470,000
      RESTAURANT
      $2,325,000
      AUTO REPAIR, GARAGE
      $1,950,000
      RETAIL STORES
      $1,940,000
      WAREHOUSE, STORAGE
      $1,510,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6355
    Latitude
    28.1458
    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
    $2,471
    $1,003,040
    $1,488,480
    $2,491,520
    -
    $1,003,040
    $1,488,480
    $2,491,520

    Comparable in this City

    • Value Estimation by Request
      3.47 Acres

      Melbourne, FL 32935

      CENTRALLY ASSESSED • 3.47 Acres
      Melbourne, FL 32935
      View Details
    • Value Estimation by Request
      0.40 Acres

      1613 Guava Ave

      SHOPPING CENTER COMMON AREA • 0.40 Acres
      1613 Guava Ave, Melbourne, FL 32935
      View Details
    • Value Estimation
      $1,145,000
      338 SF

      969 Hbr City Blvd

      SHOPPING CENTER COMMON AREA • 338 SF
      969 Hbr City Blvd, Melbourne, FL 32935-7014
      View Details
    • Value Estimation by Request
      5,951 SF

      4130 Us Hwy 1st 1

      PROFESSIONAL CLUBS/ASSOCIATIONS • 5,951 SF
      4130 Us Hwy 1st 1, Melbourne, FL 32935-4821
      View Details
    • Value Estimation by Request
      0.04 Acres

      Melbourne, FL 32935

      SHOPPING CENTER COMMON AREA • 0.04 Acres
      Melbourne, FL 32935
      View Details
    • Value Estimation by Request
      1.83 Acres

      Melbourne, FL 32935

      SHOPPING CENTER COMMON AREA • 1.83 Acres
      Melbourne, FL 32935
      View Details

    Similar Nearby for Sale

    • $550,000
      3,266 SF

      Melbourne Religious Facility Investment Opportunity

      Well-maintained 3,266 sq ft property with religious zoning exemption.
      2787 Aurora Rd, Melbourne, FL 32935
      View Details
    • $4,990,000
      2,263 SF

      Waterfront Property with Marina Potential

      4.18 AC property permitted for a 96-slip marina.
      4399 Highway 1 N, Melbourne, FL 32935
      View Details
    • $4,990,000
      2,307 SF

      Melbourne Marina Investment Opportunity

      Prime waterfront marina & home, high NOI.
      4399 Us Highway 1, Melbourne, FL 32935
      View Details
    • Contact for pricing

      High-Exposure Corner Retail Property

      Fully leased retail property on high-traffic corner lot for sale.
      1780 Croton Rd, Melbourne, FL 32935
      View Details
    • $249,999

      Melbourne Commercial Land - $250K

      High-traffic corner lot, ideal for various uses.
      1792 Dawn Dr, Melbourne, FL 32935
      View Details
    • $6,500,000
      10.88 Acres

      Melbourne Waterfront Redevelopment Opportunity

      10.88 Acres, Prime Location, $6.5M
      2711 Harbor City Blvd, Melbourne, FL 32935
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      2,700 SF

      Prime Melbourne Land: Arts District Gem

      .2-acre lot, 2700 sq ft building, C1 zoning.
      1987 Highland Ave, Melbourne, FL 32935
      View Details
    • $14 SF/Yr
      3,408 SF

      Melbourne Warehouse Space for Lease

      Class A industrial space, prime location.
      310 Wickham Rd, Melbourne, FL 32935
      View Details
    • $16 SF/Yr
      1,464 SF

      Melbourne Office Space for Lease

      1,464 sq ft Office, Prime Location
      3000 Wickham Rd, Melbourne, FL 32935
      View Details
    • $9,791 /Mo

      Prime Corner Commercial Land

      1.66 acre commercial land for rent in Melbourne, Florida.
      2936 Sarno Rd, Melbourne, FL 32935
      View Details
    • $44 SF/Yr
      1,725 SF

      Midtown Melbourne Office Building

      Fully renovated, 1,725 sq ft office.
      390 Poinciana Dr, Melbourne, FL 32935
      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.
    2401 Hbr City Blvd
    Melbourne, FL 32935-6657
    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!