Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    514 Loveridge Dr Melbourne, FL 32935-6813
    Property profile & analytics

    514 Loveridge Dr, Melbourne, FL 32935-6813

    View on Map
    • Office buildings
    • 2,038 SF
    • 0.32 lot acres
    Off-Market
    Last Sale May 20, 2024
    $485,000
    Property ID
    US18-4976210
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Geller Roofing / General Contractor
    • Destiny's beauty / Apartment Complex

    Property Details for 514 Loveridge Dr

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.32 lot acres
    Zone code
    R1A
    Property type
    Office buildings
    APN
    27-37-21-76-00004.0-0018.00
    APU
    9223372036854775807

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 20, 2024 $485,000 East Coast Investigations INC Ats Breakwater Properties LLC Warranty Deed $435k · Citizens Bank
    Jun 28, 2019 $100 Ats Breakwater Properties LLC Ats Breakwater Properties LLC Warranty Deed · related —
    May 24, 2016 $135,000 514 Loveridge Drive LLC Macfarland,donald A & Barbara L Warranty Deed $110k · Donald A & Barbara L Macfarland
    Nov 1, 1985 — Carl W Cortner — Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6262
    Latitude
    28.1165
    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
    $2,845
    $69,500
    $102,480
    $171,980
    -
    $69,500
    $102,480
    $171,980

    Comparable in this City

    • Value Estimation
      $565,000
      1,768 SF

      Melbourne, FL 32935

      OFFICE BUILDING
      Melbourne, FL 32935
      View Details
    • Value Estimation
      $2,385,000
      13,088 SF

      1301 Eau Gallie Blvd

      OFFICE BUILDING (MULTI-STORY)
      1301 Eau Gallie Blvd, Melbourne, FL 32935-5398
      View Details
    • Value Estimation
      $600,000
      4,738 SF

      2330 Aurora Rd

      PROFESSIONAL BUILDING
      2330 Aurora Rd, Melbourne, FL 32935-3306
      View Details
    • Value Estimation by Request
      2,275 SF

      1740 Sarno Rd

      OFFICE BUILDING (MULTI-STORY)
      1740 Sarno Rd, Melbourne, FL 32935-4904
      View Details
    • Value Estimation
      $1,325,000
      6,262 SF

      2220 Wickham Rd

      PROFESSIONAL BUILDING
      2220 Wickham Rd, Melbourne, FL 32935-8112
      View Details
    • Value Estimation by Request
      2,230 SF

      497 Hbr City Blvd

      OFFICE BUILDING
      497 Hbr City Blvd, Melbourne, FL 32935-6857
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,108 SF

      Two Office Buildings on US1

      Two office buildings with ample parking and prime visibility.
      525 N Harbor City Blvd, Melbourne, FL 32935
      View Details
    • $2,095,000
      8,108 SF

      Two Office Buildings on US1

      Two office buildings on US1 in Melbourne, Florida for sale.
      525 N Harbor City Blvd, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Melbourne Office Building Investment Opportunity

      10,047 SF office building with six units, 100% leased.
      2401 W Eau Gallie Blvd, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Two Office Buildings on US1

      Two office buildings on US1 near Melbourne International Airport.
      525 N Harbor City Blvd, Melbourne, FL 32935
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Stand-Alone Building in Midtown

      Renovated building in Midtown Melbourne with ample parking.
      390 Poinciana Dr, Melbourne, FL 32935
      View Details
    • Contact for pricing
      2,740 SF

      Stand-Alone Office Building For Sale

      2,702 SF office building with tenant in place until 2025.
      2211 Sarno Rd, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Renovated Office/Retail Space Available

      Prime frontage on Lake Washington Rd, suitable for office/retail.
      2800 Lake Washington Rd, Melbourne, FL 32935
      View Details
    • Contact for pricing
      3,780 SF

      Medical/Office Space for Lease

      Medical and office spaces available for lease with ample parking.
      2200-2290 W Eau Gallie Blvd, Melbourne, FL 32935
      View Details
    • Contact for pricing

      Melbourne Retail/Office Space Available

      Retail and office spaces with 24/7 access and ample parking.
      1220 Sarno Rd, Melbourne, FL 32935
      View Details
    • $19 SF/Yr
      7,260 SF

      Harbor City Office Building Investment

      Melbourne Office Space, High Visibility
      3700 Harbor City Blvd, Melbourne, FL 32935
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    514 Loveridge Dr
    Melbourne, FL 32935-6813
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    514 Loveridge Dr, Melbourne, FL, 32935
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!