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    4999 Wickham Rd Melbourne, FL 32940-7121
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    Property profile & analytics

    4999 Wickham Rd, Melbourne, FL 32940-7121

    View on Map
    • Office buildings
    • 5,670 SF
    • 1.13 lot acres
    Off-Market
    Last Sale Dec 28, 2023
    $3,750,000
    Property ID
    US18-3810563
    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
    $3,745,000
    Show details
    Cap Rate Potential
    2.2%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Chipotle Mexican Grill / Restaurant

    Property Details for 4999 Wickham Rd

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.13 lot acres
    Zone code
    C2
    Property type
    Office buildings
    APN
    26-37-30-00-00514.0-0000.00
    APU
    9223372036854775807

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 28, 2023 $3,750,000 Melbourne Florida LLC Mhw Wickham LLC Special Warranty Deed —
    Apr 5, 2023 — Mhw Wickham LLC — Deed · related $1.7M · South State Bank NA
    Nov 9, 2021 $1,075,000 Mhw Wickham LLC Fpg Florida LLC Special Warranty Deed $806k · First Business Bank
    Dec 17, 2019 $770,000 Florida As Foun Ptrs Of Florida L Vieira Funeral Homes LLC Warranty Deed —
    Sep 17, 2008 $900,000 Vieira Funeral Homes LLC Pelham Properties INC Grant Deed $1.8M · Molineaux Funeral Homes INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,770,000
      ML approach
      $3,710,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,090,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6713
    Latitude
    28.1898
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,666
    $874,400
    $41,940
    $916,340
    -
    $874,400
    $41,940
    $916,340

    Comparable in this City

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      $41,255,000
      202,791 SF

      2825 Judge Fran Jamieson Way

      OFFICE BUILDING (MULTI-STORY)
      2825 Judge Fran Jamieson Way, Melbourne, FL 32940-8006
      View Details
    • Value Estimation
      $1,320,000
      9,748 SF

      1936 Freedom Dr

      OFFICE BUILDING
      1936 Freedom Dr, Melbourne, FL 32940-6876
      View Details
    • Value Estimation
      $4,270,000
      18,219 SF

      5600 Stadium Pkwy

      OFFICE BUILDING
      5600 Stadium Pkwy, Melbourne, FL 32940-8001
      View Details
    • Value Estimation
      $1,295,000
      8,122 SF

      6711 Lk Andrew Dr Ste, Unit 101

      OFFICE BUILDING
      6711 Lk Andrew Dr Ste, Melbourne, FL 32940-5999
      View Details
    • Value Estimation
      $2,515,000
      11,918 SF

      2329 Medico Ln Ste, Unit 102

      OFFICE BUILDING
      2329 Medico Ln Ste, Melbourne, FL 32940-8449
      View Details
    • Value Estimation
      $1,100,000
      5,184 SF

      3101 Casabella Pl

      OFFICE BUILDING
      3101 Casabella Pl, Melbourne, FL 32940-1345
      View Details

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      Prime commercial real estate with income and development potential.
      5120 Highway 1 N, Melbourne, FL 32940
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      Entitled Land in Viera, Florida

      1.28 acres of entitled land ready for development.
      1745 Berglund Ln, Melbourne, FL 32940
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      11,932 SF

      Manufacturing/Warehouse Facility with Clean Room

      Manufacturing and warehouse space featuring a clean room and dock.
      2775 Business Center Blvd, Melbourne, FL 32940
      View Details
    • $85,000
      0.18 Acres

      Land in 55+ Community

      Land in a gated 55+ country club community.
      1790 Independence Ave, Melbourne, FL 32940
      View Details
    • New
      $184,990
      3,753 SF

      Established Italian Restaurant Opportunity

      Turn-key Melbourne restaurant with loyal following and strong revenue potential.
      4980 N Wickham Rd, Melbourne, FL 32940
      View Details

    Similar Nearby for Lease

    • $23,506
      10,902 SF

      Single-Tenant Office Building in Viera

      Corporate office building in Viera's Corporate Park, Melbourne, Florida.
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      View Details
    • Contact for pricing

      Premium Office Space in Melbourne

      Class A office tower in a desirable professional enclave.
      6905 N Wickham Rd, Melbourne, FL 32940
      View Details
    • Contact for pricing
      10,849 SF

      Single-Tenant Office in Corporate Park

      10,849 SF office building in Viera's Corporate Park.
      7351 Office Park Pl, Melbourne, FL 32940
      View Details
    • Contact for pricing
      7,000 SF

      Professional/Medical Office Space Available

      Up to 7000 square feet of professional or medical office space.
      8805 Ivanhoe Dr, Melbourne, FL 32940
      View Details
    • $105 SF/Yr
      259,182 SF

      Virtual Office in Suntree

      Professional virtual office address in a desirable Melbourne business center.
      3270 Suntree Blvd, Melbourne, FL 32940
      View Details
    • Contact for pricing

      Professional Office Space in Suntree

      New construction office building, perfect for medical or professional offices.
      2 Suntree Pl, Melbourne, FL 32940
      View Details
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    4999 Wickham Rd
    Melbourne, FL 32940-7121
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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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