500 North Dr Melbourne, FL 32934
Warehouses
Google Maps
Entity Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
For Lease
1 / 3
Contact for pricing
500 North Dr, Melbourne, FL 32934
View Listing →
Estimated value (blended)
$805k
Range $725k – $886k (±10%)
Property ID
US18-3761971
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Construction
FRAME
Total area
25,000 SF
Lot
2.29 ac (99,752 SF)
Zoning code
IU
APN
27-36-26-01-00000.0-000A.03
UPID
US18-3761971
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
-
Hardware & Home Improvement HVAC Service
-
Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Production Facility Furniture & Home Goods
-
Construction Company
-
HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.65M
Comparable Approach
Comparable
$2.55M
Blend (final)
Blend
$805k
Owner & transaction history
since 2001
3 recorded transactions
Zoning & alternative use
IU · Melbourne, FL
Top alternative use upside
Medical building
$4.0M
+23.9%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$805k
Value range
$725k – $886k
±10% around blend
Estimated value / SF
$32 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
30
$725k
blend $805k
$886k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
25,000 SF
Lot area
2.29 ac
Year built
2004
Stories
1
APN
27-36-26-01-00000.0-000A.03
Assessed value
$1,316,270
Annual tax
$34,444
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.65M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.87M
@ 6.5% CAP return
$2.65M
@ 7% CAP return
$2.46M
4
Sales comparison
Partial preview
Sales approach indication
$6.89M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
8.3 mi away · 19,936 SF
20.3 mi away · 18,080 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$805k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 107 sales
$129
-75%
County 178 sales
$125
-74%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $32/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+24%
vs current-use indication
Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.32M
Move the market yield to see immediate price impact.
Value / SF
$53
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$83k
$1.66M
$1.18M
$921k
$92k
$1.84M
$1.32M
$1.02M
$101k
$2.03M
$1.45M
$1.13M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$7.20M
0.5 mi · Dec 2025 · $280/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$34,444
Tax year 2023
Assessed value
$1,316,270
Assessed 2023
Previous assessed
$1,223,550
+7.6% YoY
Effective rate
2.62%
On assessed value
Assessed land
$249,630
Assessed improvement
$1,066,640
Land market value
$249,630
Improvement market value
$1,066,640
Total market value
$1,316,270
Applied tax rate
53.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2004
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
20
Total area
25,000 SF
Lot
2.29 ac (99,752 SF)
Zoning code
IU
APN
27-36-26-01-00000.0-000A.03
UPID
US18-3761971
Jurisdiction
BREVARD
Zoning & alternative use
IU · Melbourne, FLZoning IU · permitted uses
IU · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
20
Lot
2.29 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
IU
Jurisdiction
Melbourne, FL
Recorded code
IU
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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