Sign Up Successful!
You now have access to more from Realmo!
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

    2637 Hbr City Blvd Melbourne, FL 32901-7207

    • Retail space
    • 1,150 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Nov 02, 2023
    $395,000
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    4.1%
    Retail space
    Location Intelligence
    Property ID
    US18-2086241
    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

    • Retail space

    Property Details for 2637 Hbr City Blvd

    Year built
    1951
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.32 lot acres
    Property size
    1,150 SF
    Zone code
    C2
    Property type
    Retail space
    APN
    28-37-11-12-000B3.0-0009.00
    APU
    28371112000B30000900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $325,000
      ML approach
      $355,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $220,000
      6.5%
      $205,000
      7%
      $190,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $296,000
      Market price range: $103k - $296k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $195,000
      Current use
      COMMERCIAL (GENERAL)
      $355,000
      Change: +80% Conversion: Easy
      AUTO REPAIR, GARAGE
      $255,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $200,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.5999
    Latitude
    28.0688
    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
    $447
    $45,520
    $127,170
    $172,690
    -
    $45,520
    $127,170
    $172,690

    Comparable in this City

    • Value Estimation
      $100,000
      3,634 SF

      2006 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 3,634 SF
      2006 Frnt St, Melbourne, FL 32901-7361
      View Details
    • Value Estimation
      $285,000
      3,920 SF

      2428 Irwin St

      RETAIL STORES (PERSONAL SERVICES) • 3,920 SF
      2428 Irwin St, Melbourne, FL 32901-7316
      View Details
    • Value Estimation
      $315,000
      6,623 SF

      1600 Hbr City Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,623 SF
      1600 Hbr City Blvd, Melbourne, FL 32901-4682
      View Details
    • Value Estimation
      $135,000
      2,276 SF

      420 Babcock St

      RETAIL STORES (PERSONAL SERVICES) • 2,276 SF
      420 Babcock St, Melbourne, FL 32901-1214
      View Details
    • Value Estimation
      $260,000
      2,938 SF

      800 Strawbridge Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,938 SF
      800 Strawbridge Ave, Melbourne, FL 32901-4737
      View Details
    • Value Estimation
      $350,000
      9,008 SF

      1621 Peachtree St

      RETAIL STORES (PERSONAL SERVICES) • 9,008 SF
      1621 Peachtree St, Melbourne, FL 32901
      View Details

    Similar Nearby for Sale

    • $1,950,000
      7,833 SF

      Jessups of Melbourne: Prime Retail Space

      Melbourne Storefront, 7,833 SF, High Income Potential
      912 New Haven Ave, Melbourne, FL 32901
      View Details
    • $950,000
      2,104 SF

      High Visibility Commercial Property, Melbourne

      1.05 acre lot with high visibility and multiple access points.
      2815 S Harbor City Blvd, Melbourne, FL 32901
      View Details
    • Contact for pricing
      684,327 SF

      Tarpon Springs Office Space Available

      2,000 SF Office, Immediate Occupancy
      3999 Babcock St, Melbourne, FL 32901
      View Details
    • $1,575,000
      7,200 SF

      Stand Alone Commercial Building

      7,200 SF commercial building with flexible zoning.
      705 S Apollo Blvd, Melbourne, FL 32901
      View Details
    • $975,000
      4,673 SF

      Melbourne Retail Investment Opportunity

      High-traffic retail assemblage, 4,673 SF
      760-780 Palm Blvd, Melbourne, FL 32901
      View Details
    • Contact for pricing
      1,916,640 SF

      Melbourne City Center Mixed-Use

      Prime FL location, massive development potential.
      3999 Babcock St, Melbourne, FL 32901
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      1,500 SF

      Prime Commercial Space in Melbourne

      Versatile commercial space suitable for retail, office, or restaurant.
      826 E New Haven Ave, Melbourne, FL 32901
      View Details
    • Contact for pricing
      870 SF

      Neighborhood Shopping Center Retail Space

      Retail space in a neighborhood shopping center for lease.
      765-945 S Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      7,500 SF

      Retail Space in Highline Apartments

      Retail space available in a mixed-use development.
      916 E New Haven Ave, Melbourne, FL 32901
      View Details
    • $7,000 /Mo
      3,109 SF

      Retail or Professional Office Space

      Stand-alone building with flexible layout in Central Melbourne Commercial District.
      665 S Babcock St, Melbourne, FL 32901
      View Details
    • $20 SF/Yr
      870 SF

      Retail Space in Busy Location

      Retail space in a newly renovated building with high traffic.
      404-410 S Babcock St, Melbourne, FL 32901
      View Details
    • Contact for pricing
      1,700 SF

      New Construction Retail Space Available

      Retail space in new mixed-use building near thriving businesses.
      1425 Sportsman Ln NE, Palm Bay, FL 32901
      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.
    2637 Hbr City Blvd
    Melbourne, FL 32901-7207
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.