Property profile

420 Babcock St Melbourne, FL 32901

OFF-MARKET
Retail space
Property ID
US18-5497858
2,276 SF 0.17 ac lot Built 1956
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 2,094 square foot single-tenant commercial building is ideally situated in the heart of Melbourne, Florida, offering a prime location for businesses seeking high visibility and accessibility. The property boasts a versatile open configuration interior, including three private offices, a break area, one restroom, and ample storage. Features include carpet and drop ceilings throughout, city water/sewer, and FPL electric. Benefit from excellent exposure to an estimated 24,500 vehicles per day on Babcock Street. The C1 zoning allows for a variety of uses, including office, retail, medical, and childcare facilities. This building offers adequate parking and is conveniently located approximately halfway between US 192 and Eau Gallie Boulevard, providing easy access to Melbourne International Airport, Downtown Melbourne, Melbourne Square Mall, and numerous shopping, dining, and educational options. Nearby major roadways include US1, NASA Boulevard, and Apollo Boulevard. The monthly rent is $2,500, plus Florida sales tax and utilities

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1956
Construction FRAME
Total area 2,276 SF
Lot 0.17 ac (7,405 SF)
Zoning code C1
APN 27-37-28-76-00000.0-0286.00
UPID US18-5497858

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Charitable Organization

Location

420 Babcock St Melbourne, FL 32901-1214
Melbourne metro Census 64800 PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$145k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$125k

Owner & transaction history

since 2021
Last sale
$150,000
2 recorded transactions
2021
$150,000
2016
$100,000

Zoning & alternative use

C1 · Melbourne, FL
Zoning description

The provisions of this district are intended to apply to an area adjacent to arterial and major collector streets and convenient to major residential areas. The types of uses permitted are intended to serve consumer need…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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