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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    601 Strawbridge Ave Melbourne, FL 32901

    • Office buildings
    • 2,155 SF
    • 0.19 lot acres
    For Lease
    View listing
    $50 SF/Yr
    Value Estimations
    $385,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0321168
    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

    • Downtown Grooming Lounge / Barber Shop
    • McCloskey & Associates Wealth Management / Financial Advisor / Financial Consultant
    • The Dittmore Agency / Insurance Agency
    • Shield Me Insurance / Health Insurance Agency
    • McCloskey Financial / Financial Consultant

    Property Details for 601 Strawbridge Ave

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.19 lot acres
    Property size
    2,155 SF
    Zone code
    C3
    Property type
    Office buildings
    APN
    28-37-03-FC-00040.0-0016.00
    APU
    283703FC000400001600

    Description

    This exceptional 156-square-foot executive office suite is ideally located in Downtown Melbourne. The single-tenant space is situated within a professionally managed building and boasts a welcoming lobby area. A shared bathroom is conveniently located for all tenants. The suite is currently furnished, although furniture removal can be arranged if needed. A microwave and refrigerator are included, providing added convenience. This turnkey solution eliminates the need for upfront capital expenditures beyond rent and a 3% sales tax. The building is meticulously maintained and exceptionally clean, ensuring a professional and comfortable work environment. The property features a single suite within the building, making it an ideal space for a small business or individual professional. The property's APN is 28-37-03-Fc-00040.0-0016.00. The lot size is not specified. This is a fantastic opportunity for a business seeking a well-appointed, immediately available office space in a prime downtown location. No additional investment is required beyond rent and sales tax. The property is classified as both Office and Land, with a Commercial subtype and Single tenancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $520,000
      6.5%
      $480,000
      7%
      $445,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $381,000
      Market price range: $292k - $530k
      AI Estimate
      $250,000
      Market price range: $113k - $437k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $375,000
      Current use
      AUTO REPAIR, GARAGE
      $480,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $370,000
      Change: -2% Conversion: Moderate
      MEDICAL BUILDING
      $345,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6111
    Latitude
    28.0792
    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
    $4,848
    $245,760
    $15,820
    $261,580
    -
    $245,760
    $15,820
    $261,580

    Comparable in this City

    • Value Estimation
      $305,000
      9,600 SF

      Melbourne, FL 32901

      OFFICE BUILDING • 9,600 SF
      Melbourne, FL 32901
      View Details
    • Value Estimation
      $2,080,000
      65,483 SF

      1223 Gtwy Dr

      PROFESSIONAL BUILDING • 65,483 SF
      1223 Gtwy Dr, Melbourne, FL 32901-2607
      View Details
    • Value Estimation
      $935,000
      226,121 SF

      1901 Grumman Pl

      OFFICE BUILDING (MULTI-STORY) • 226,121 SF
      1901 Grumman Pl, Melbourne, FL 32901
      View Details
    • Value Estimation
      $1,500,000
      219,361 SF

      2222 Hbr City Blvd

      PROFESSIONAL BUILDING • 219,361 SF
      2222 Hbr City Blvd, Melbourne, FL 32901-5594
      View Details
    • Value Estimation
      $915,000
      54,090 SF

      700 Babcock St

      OFFICE BUILDING (MULTI-STORY) • 54,090 SF
      700 Babcock St, Melbourne, FL 32901-1406
      View Details
    • Value Estimation
      $555,000
      25,406 SF

      551 Apollo Blvd

      OFFICE BUILDING (MULTI-STORY) • 25,406 SF
      551 Apollo Blvd, Melbourne, FL 32901-1258
      View Details

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      Commercial property with medical build-out, excellent visibility, and access.
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      Melbourne Office Space Available

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      View Details
    • $1,700 /Mo
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      Office Space Near Downtown

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      View Details
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    601 Strawbridge Ave
    Melbourne, FL 32901
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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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