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    2893 Harbor City Blvd Melbourne, FL 32935
    Property profile & analytics

    2893 Harbor City Blvd, Melbourne, FL 32935

    View on Map
    • Flex space
    • 3,834 SF
    Off-Market
    Property ID
    US18-0111475
    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

    • Sean Riordan, eXp Realty, LLC / Real Estate Agency
    • Karen D'Alberto / Real Estate Agency
    • Space Coast Elite Home Team / Real Estate Agency
    • BSC & Consulting Inc / Big Box & Wholesale Store / Building Supply
    • Zone Heating and Cooling / HVAC Service / General Contractor

    Property Details for 2893 Harbor City Blvd

    Year built
    1988
    Property type
    Flex space

    Description

    This exceptional 3,834 square foot flex building, constructed in 1988, offers a fantastic leasing opportunity. Currently, 3,034 square feet are available for immediate occupancy within this single-story structure. The property boasts a highly desirable location on US-1, providing excellent visibility and accessibility. Its strategic position is just 1.8 miles north of West Eau Gallie Boulevard, 4.6 miles south of the Pineda Causeway, and a convenient 6.3 miles from I-95, ensuring seamless connectivity throughout the region. The building is zoned C-C1 and situated in Brevard County. Beyond the main space, the property includes valuable amenities such as ample parking, covered outdoor storage, and additional garage storage, enhancing its functionality and appeal. The interior features attractive office space, ideal for a variety of business needs. This multi-tenant building presents a rare chance to secure a well-maintained, strategically located flex space with significant added storage and parking. The combination of prime location, ample space, and convenient amenities makes this property an exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.640419341493
    Latitude
    28.153257820542

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      Air-Conditioned Warehouse Space For Rent

      Air-conditioned warehouse with highway frontage, offices, and high ceilings.
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      Prime Melbourne Land: Arts District Gem

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      Insulated Warehouse with Highway Frontage

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    Similar Nearby for Lease

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      Melbourne Warehouse Space Available

      Prime Industrial Space - 2,250+ sq ft
      2280 Avocado Ave, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Melbourne Retail/Office Space Available

      Retail and office spaces with 24/7 access and ample parking.
      1220 Sarno Rd, Melbourne, FL 32935
      View Details
    • Contact for pricing
      2,419 SF

      Warehouse/Distribution Center Opportunity

      Versatile space suitable for warehouse or distribution center.
      1671 Cypress Ave, Melbourne, FL 32935
      View Details
    • Contact for pricing
      7,500 SF

      Versatile Industrial Space For Lease

      Up to 15,000 SF available, ideal for industrial, baking.
      875 Creel St, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Air-Conditioned Warehouse Space For Rent

      Air-conditioned warehouse with highway frontage, offices, and high ceilings.
      2774 N Harbor City Blvd, Melbourne, FL 32935
      View Details
    • $32 SF/Yr
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      Prime Melbourne Land: Arts District Gem

      .2-acre lot, 2700 sq ft building, C1 zoning.
      1987 Highland Ave, Melbourne, FL 32935
      View Details
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    Melbourne, FL 32935
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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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