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Property profile & analytics
OFF-MARKET Estimated value $1,505,000
Warehouses

404 New Hvn Ave Melbourne, FL 32901-4508

10,464 SF 0.6 ac lot Built 1973
Entity Owned 1-yr Hold Free & Clear
Property ID
US19-0646777
Property summary
AI-generated overview

This exceptional 4,727-square-foot creative office space is available for lease in the vibrant heart of Downtown Melbourne. Situated in a building totaling 9,600 square feet, this single-tenant property offers a sleek and functional layout perfect for businesses seeking a modern and inspiring work environment. Built in 1973 and recently updated, the space boasts updated electrical systems and ample storage. The property also includes convenient bay doors. Its location provides easy access to major highways, maximizing convenience for employees and clients. The surrounding Downtown Melbourne area (DTMB) is a thriving hub of activity, boasting over 288 businesses within a one-mile radius, including 45 restaurants, 47 shops, 9 unique experiences, and numerous professional offices. This high-traffic area offers significant brand exposure and access to a diverse clientele. The area's cultural richness is further enhanced by 18 murals, 6 art galleries, and 2 theaters, creating a dynamic and attractive atmosphere. This property is ideal for startups seeking to establish a strong presence or established businesses looking to upgrade to a contemporary and inspiring workspace. The property sits on a 0.6-acre lot. The building is classified as Office, Industrial, and Special Purpose.

Property profile
Verified
Property type Warehouses
Use group STORAGE YARD, OPEN STORAGE
Year built 1973
Construction FRAME
Total area 10,464 SF
Lot 0.6 ac (26,136 SF)
Zoning code C1
APN 28-37-03-33-00001.0-0009.00
UPID US19-0646777
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
  • Bill My Way Business Service Center
  • B'nai B'rith Space Coast Lodge 3106 Event Planning Wedding Service
  • Is It There Yet Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.11M
Comparable Approach Comparable
$2.10M
Blend (final) Blend
$1.51M
Owner & transaction history
Ciaudelli LLC · 1 yrs held
Ciaudelli LLC
since 2025
Last sale
$1.7M
6 recorded transactions
2025
Price N/A
2025
$1.7M
2018
$1.1M
2005
$575,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
C1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $2.3M +73.0%
Office building $1.8M +35.3%
Retail stores $1.8M +32.8%
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