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    Property profile & analytics

    5995 Wickham Rd Melbourne, FL 32940

    • Commercial real estate
    • 1.20 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3782657
    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.

    Current Use by Public Records

    • Bridges for Peace USA / Non-Profit Organization
    • Temple Beth Sholom / Synagogue
    • CrossPointe Coast | Pineda / Church
    • Pineda Pointe Church / Church

    Property Details for 5995 Wickham Rd

    Lot size
    1.20 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.2-acre commercial land parcel presents a remarkable investment opportunity in the thriving city of Melbourne, Florida. Strategically located on Wickham Road, a major arterial road boasting impressive daily traffic counts of 33,850 vehicles, this property offers unparalleled visibility and accessibility. The lot features 258 feet of frontage along Wickham Road, ensuring maximum exposure for any commercial development. Its convenient location provides easy access to the Pineda Causeway, offering seamless connections to both I-95 and A1A, enhancing its appeal to a wide range of businesses and clientele. The property is zoned BU-1, providing flexibility for various commercial uses. Furthermore, essential utilities such as water and sewer are readily available, simplifying the development process. Situated in Brevard County, this prime location within the heart of Melbourne offers a unique blend of high traffic volume and convenient access to major transportation arteries, making it an ideal site for a variety of commercial ventures. The asking price for this exceptional property is $1,200,000. Don't miss this chance to acquire a highly visible and strategically located commercial land parcel in a rapidly growing area. The address is 5995 N Wickham Rd, Melbourne, FL 32940.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.67199505
    Latitude
    28.20773888

    Comparable in this City

    • $85,000

      Melbourne Commercial Land Investment

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      Prime Melbourne Waterfront Lot

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    • $235,000

      Viera Commercial/Residential Land

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    Similar Nearby for Sale

    • $85,000

      Melbourne Commercial Land Investment

      7,841 SF Commercial/Residential Lot
      1432 Patriot Dr, Melbourne, FL 32940
      View Details
    • $218,000
      0.65 Acres

      Land in Viera Subdivision

      0.65 acre residential land for custom home in Viera.
      7904 Risen Star Pl, Melbourne, FL 32940
      View Details
    • $229,000

      Melbourne Commercial Land - Viera

      .65-Acre Lot, Build Your Dream
      7904 Risen Star Pl, Melbourne, FL 32940
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    • $210,000

      Melbourne Commercial Land - $210K

      Build Your Dream Home on 0.32 Acres
      1011 Italia Ct, Melbourne, FL 32940
      View Details
    • $229,000

      Prime Melbourne Waterfront Lot

      Luxury homesite, .31 acres, waterfront views
      1492 Lavender Dr, Melbourne, FL 32940
      View Details
    • $235,000

      Viera Commercial/Residential Land

      Prime Viera lot, 20,908 sq ft, build your dream home.
      1402 Lavender Dr Dr, Melbourne, FL 32940
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    Similar Nearby for Lease

    • Contact for pricing

      Prime Retail Outlots Available

      Retail outlots for sale, ground lease, or build to suit.
      5565 N Wickham Rd, Melbourne, FL 32940
      View Details
    • Contact for pricing

      Prime Retail Outlots Available

      Retail outlots for sale, ground lease, or build to suit.
      5585 N Wickham Rd, Melbourne, FL 32940
      View Details
    • $3,500 /Mo

      Commercial Land for Rent

      1.36 acre commercial land available for rent.
      6440 Highway 1 N, Melbourne, FL 32940
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    • Contact for pricing

      Retail and Outparcels For Lease

      Junior box retail and outparcels available for lease.
      4809 N Wickham Rd, Melbourne, FL 32940
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    • $28 SF/Yr
      5,984 SF

      Prime Retail Space, Wickham Rd

      High-traffic location, two suites available
      6455 Wickham Rd, Melbourne, FL 32940
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    • $3,500 /Mo
      1,052 SF

      Office with Garage and Lot

      Office space with garage and large lot for outdoor storage.
      2735 Allen Hill Ave, Melbourne, FL 32940
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    5995 Wickham Rd
    Melbourne, FL 32940
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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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