Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,905,000
Truck terminals
3161 Skwy Cir Melbourne, FL 32934-7334
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-2384028
Property summary
AI-generated overview
This Melbourne, Florida industrial property offers 48,000 square feet of warehouse space situated on a 4.97-acre lot. The building, constructed in 1997 and zoned M1, features 24 fourteen-foot-tall bay doors (12 drive-ins on each side). Approximately 1.7 acres of paved and fenced outdoor storage is included, providing significant additional space. There's also excess paved area suitable for employee or customer parking, or further storage expansion. Previously used for boat and RV storage, this single-tenant property boasts convenient access to I-95 via exits 182 and 183, offering multiple highway access points. The property's address is 3161 Skyway Cir, Melbourne, FL 32934, with the APN 27-36-25-01-*-3 in Brevard County. This versatile space presents a significant opportunity for businesses requiring substantial warehouse and outdoor storage capacity in a prime Melbourne location. The entire 48,000 square feet is currently vacant.
Property profile
Verified
Property type
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Year built
1997
Construction
FRAME
Total area
48,000 SF
Lot
4.97 ac (216,493 SF)
Zoning code
M1
APN
27-36-25-01-00000.0-0003.00
UPID
US18-2384028
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Big Boy Toy Storage Storage Facility Parking Lot & Garage
-
RP#2 Warehouse & Storage
-
Marine Works Production Facility Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.32M
Blend (final)
Blend
$4.91M
Owner & transaction history
3161 Skyway Circle LLC · 1 yrs held
3161 Skyway Circle LLC
since 2024
Last sale
$4.7M
1 recorded transaction
Zoning & alternative use
M1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$7.7M
+33.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
TRUCK TERMINAL (MOTOR FREIGHT)
$5,735,000
Current use
MEDICAL BUILDING
$7,680,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$4.91M
Range $4.41M – $5.40M · ±10% · vs last sale $4.70M (Sep 23 2024)
Last sale anchor
$4.70M
Sep 23 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$102 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$51,618
Tax year 2023
Assessed value
$3,084,720
Assessed 2023
Previous assessed
$3,053,100
+1.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$670,780
Assessed improvement
$2,413,940
Land market value
$670,780
Improvement market value
$2,413,940
Total market value
$3,084,720
Applied tax rate
53.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Status
Off-Market
Year built
1997
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
48,000 SF
Lot
4.97 ac (216,493 SF)
Zoning code
M1
APN
27-36-25-01-00000.0-0003.00
UPID
US18-2384028
Jurisdiction
BREVARD
Zoning & alternative use
M1 · Melbourne, FL
Zoning M1 · permitted uses
M1 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
TRUCK TERMINAL (MOTOR FREIGHT) Current
Est. value
$5.7M
MEDICAL BUILDING
Est. value
$7.7M
TRUCK TERMINAL (MOTOR FREIGHT) Current
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
4.97 ac
Current owner
From public records · entity-resolved
3161 Skyway Circle LLC
Entity
Mailing address
3161 SKWY CIR, MELBOURNE, FL 32934-7334
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2024
$4,696,000
3161 Skyway Circle LLC
Big Boy Toy Storage Of Melbourne In
Special Warranty Deed
$3,700,000 · First Utah Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3161 Skwy Cir?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
