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    Property profile & analytics

    245 Palm Bay NE Rd West Melbourne, FL 32904-8602

    • Turn key restaurants
    • 5,402 SF
    • 1.40 lot acres
    OFF-MARKET
    Value Estimation
    $5,325,000
    Last Sale
    Jan 26, 2021
    $4,970,000
    Location Intelligence
    Property ID
    US18-4009546
    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

    • Panera Bread / Salad Shop / Sandwich Shop

    Property Details for 245 Palm Bay NE Rd

    Year built
    2010
    Construction
    WOOD
    Lot size
    1.40 lot acres
    Property size
    5,402 SF
    Zone code
    CP
    Property type
    Turn key restaurants
    APN
    28-37-19-01-00000.0-0011.00
    APU
    9223372036854775807

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $5,365,000

    • CAP approach

      CAP return
      Estimation
      6%
      $4,670,000
      6.5%
      $5,475,000
      7%
      $5,160,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $5,255,000
      Geo Method
      $4,970,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $5,735,000
      Retail
      $5,775,000
      Mixed-Use
      $5,395,000
      Hospitality
      $4,620,000
      Educational
      $6,100,000
      Residential Income
      $5,045,000
      Energy
      $5,245,000
      Income-Based Land
      $4,695,000
      Food Service
      $5,420,000

    Location Insight

    • Map
    • Local Demand
    City
    West Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6641
    Latitude
    28.0363
    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
    $26,425
    $976,910
    $603,440
    $1,580,350
    -
    $976,910
    $603,440
    $1,580,350

    Comparable in this City

    • Value Estimation by Request
      6,537 SF

      255 Palm Bay NE Rd

      RESTAURANT • 6,537 SF
      255 Palm Bay NE Rd, West Melbourne, FL 32904-8602
      View Details
    • Value Estimation by Request
      9,251 SF

      2508 New Hvn Ave

      RESTAURANT • 9,251 SF
      2508 New Hvn Ave, West Melbourne, FL 32904-3702
      View Details
    • Value Estimation by Request
      1,749 SF

      2880 New Hvn Ave

      RESTAURANT • 1,749 SF
      2880 New Hvn Ave, Melbourne Village, FL 32904-3613
      View Details
    • Value Estimation
      $1,340,000
      5,992 SF

      2400 Dairy Rd

      RESTAURANT • 5,992 SF
      2400 Dairy Rd, West Melbourne, FL 32904-5248
      View Details
    • Value Estimation
      $580,000
      4,696 SF

      4530 New Hvn Ave

      RESTAURANT • 4,696 SF
      4530 New Hvn Ave, Melbourne, FL 32904-3324
      View Details
    • Value Estimation
      $325,000
      2,569 SF

      1630 Wickham Rd

      RESTAURANT • 2,569 SF
      1630 Wickham Rd, West Melbourne, FL 32904-3543
      View Details

    Similar Nearby for Sale

    • $299,000
      4,000 SF

      West Melbourne Restaurant - $299K

      Profitable Woody's Bar-B-Q Franchise
      2261 New Hvn Ave, West Melbourne, FL 32904
      View Details
    • $2,550,000
      1.15 Acres

      Former Wendy’s with Drive-Thru For Sale

      Restaurants • 2,728 SF
      2650 New Haven Ave, Melbourne, FL 32904
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    • Contact for pricing
      2,728 SF

      Drive-Thru Restaurant Opportunity

      Second generation drive-thru restaurant in prime retail corridor.
      2650 W New Haven Ave, Melbourne, FL 32904
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    • Contact for pricing
      350,000 SF

      Space Coast Town Center Development

      Mixed-use development opportunity in growing Space Coast region.
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    • $950,000
      9,418 SF

      Multi-Building Commercial Property For Sale

      Three-building commercial property with bonus apartment, fully occupied, fenced.
      71-99 Sunset Dr, Melbourne, FL 32904
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    • $1,995,000
      3,315 SF

      Melbourne Retail Investment Opportunity

      High-Traffic Gas Station & Convenience Store
      3435 Minton Rd, Melbourne, FL 32904
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Restaurant Building in Melbourne, Florida

      4,676 SF free-standing restaurant building available for rent.
      Melbourne, FL 32904
      View Details
    • $13 SF/Yr
      1,300 SF

      Melbourne Retail Space - Prime Location

      Vacant Retail Space, Negotiable Terms
      3340 New Haven Ave, Melbourne, FL 32904
      View Details
    • $15 SF/Yr
      16,826 SF

      Melbourne Retail/Flex Space Available

      Freestanding building on major thoroughfare, ideal for retail/flex space.
      3800 W New Haven Ave, Melbourne, FL 32904
      View Details
    • $36 SF/Yr
      2,930 SF

      Retail Space in Growing Area

      Retail space available in a high-growth Melbourne, Florida location.
      6375 N Wickham Rd, Melbourne, FL 32904
      View Details
    • $17 SF/Yr
      3,000 SF

      Melbourne Retail & Office Space

      Prime 3,000 SF Single-Tenant Retail/Office
      3300 New Haven Ave, Melbourne, FL 32904
      View Details
    • $35 SF/Yr
      1,000 SF

      Retail Space in Growing Area

      Located in a high-growth area with strong tenant lineup.
      6385-6395 N Wickham Rd, Melbourne, FL 32904
      View Details

    Property Visit Statistics

    • Visits by month
      55.3k
    • Visitors by month
      38.9k
    • Avg Time on site
      14 min
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    245 Palm Bay NE Rd
    West Melbourne, FL 32904-8602
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    Realmo Value Estimation

    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.

    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.

    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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