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Property profile & analytics
FOR LEASE
Office buildings
401 Ocean Ave 203 Melbourne Beach, FL 32951
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0706028
For Lease
1 / 4
$1,800/Mo
401 Ocean Ave,Unit 203, Melbourne Beach, FL 32951
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Property summary
AI-generated overview
This exceptional Melbourne Beach office building, located at 401 Ocean Ave, 32951, offers a prime location at a major intersection. Built in 1979 with renovations completed in 2004 and 2005, this two-story, multi-tenant building boasts 12,000 square feet of space. Currently, one suite of 1,140 square feet is available. Enjoy stunning beach views from this well-maintained property, which features convenient amenities including an elevator and ample parking (72 spaces). The building is equipped with 100% central air conditioning, ensuring a comfortable work environment. The property's Assessed Parcel Number (APN) is 28-38-07-Fy-00002.0-0010.00. This is a rare opportunity to secure office space in a highly desirable beachfront location. The building's traditional office style and excellent location make it an ideal choice for a variety of businesses. Don't miss this chance to establish your business in this thriving coastal community.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,741 SF
Lot
1.15 ac (50,094 SF)
Zoning code
8B
APN
28-38-07-FY-00002.0-0010.00
UPID
US19-0706028
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.03M
Blend (final)
Blend
$1.79M
Owner & transaction history
OSCEOLA BUILDINGS LLC
OSCEOLA BUILDINGS LLC
Zoning & alternative use
8B · Melbourne Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne Beach 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
OFFICE BUILDING
$2,975,000
Current use
RETAIL STORES
$2,530,000
Change: -15% · Conversion: Moderate
MEDICAL BUILDING
$2,445,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.79M
Range $1.61M – $1.97M · ±10%
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
$114 / 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
$18,624
Tax year 2023
Assessed value
$1,149,320
Assessed 2023
Previous assessed
$1,068,670
+7.5% YoY
Effective rate
1.62%
On assessed value
Assessed land
$585,380
Assessed improvement
$563,940
Land market value
$585,380
Improvement market value
$563,940
Total market value
$1,149,320
Applied tax rate
34.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
15
Total area
15,741 SF
Lot
1.15 ac (50,094 SF)
Zoning code
8B
APN
28-38-07-FY-00002.0-0010.00
UPID
US19-0706028
Jurisdiction
BREVARD
Zoning & alternative use
8B · Melbourne Beach, FL
Zoning 8B · permitted uses
8B · Melbourne Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.0M
RETAIL STORES
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.4M
OFFICE BUILDING Current
RETAIL STORES
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
15
Lot
1.15 ac
Current owner
From public records · entity-resolved
OSCEOLA BUILDINGS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
626 OLD DIXIE HWY SW, VERO BEACH, FL 32962-4536
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
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