Property profile

551 S Apollo Blvd Melbourne, FL 32935

FOR LEASE
Office buildings
Property ID
US18-3083012
25,406 SF 2.17 ac lot Built 1983
Individually Owned Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This well-maintained, multi-tenant office building, located at 551 S. Apollo Blvd., offers a 1,200 square foot suite for lease. Situated across from Melbourne International Airport (MLB), this Class C building boasts a total of 21,114 square feet across 15 suites. The available space is part of a larger 1,200 square foot contiguous area, with a minimum divisible space of 1,200 square feet. Built in 1983, the property sits on 2.17 acres of land (APN: 27-3728-00-751.A). The building is ideal for medical, traditional, or creative office uses. The Space Coast offers a compelling business environment, combining low operating costs, attractive incentives, and a skilled workforce. This location benefits from a strong, diversified economy, recognized for its high-tech sector and robust wage growth. Suite build-out varies. This is an excellent opportunity to establish a presence in a thriving area with convenient airport access. The property is currently zoned for office use. Contact us today to schedule a viewing.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1983
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 25,406 SF
Lot 2.17 ac (94,525 SF)
Zoning code C2
APN 27-37-28-00-00751.A-0000.00
UPID US18-3083012

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
  • Accounting Firm Tax Preparation
  • Alternative Medicine Practice
  • Insurance Agency
  • Alternative Medicine Practice
  • Physician

Location

551 S Apollo Blvd Melbourne, FL 32935
Melbourne metro Census 64702 PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.45M
Blend (final) Blend
$2.79M

Owner & transaction history

1 recorded transaction
1969
Price N/A

Zoning & alternative use

C2 · Melbourne, FL
Zoning description

The provisions of this district are intended to apply to an area intended to be developed and preserved as a major commercial center serving the commercial needs of the community and region as well as the motoring public…

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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