Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    605 John Rodes Blvd Melbourne, FL 32934

    • Warehouses
    • 30,908 SF
    • 17.51 lot acres
    For Sale
    View listing
    $4,995,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0680102
    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

    • Indian River Engineering / Engineer
    • Data Flow Systems / Water Works Equipment Supplier

    Property Details for 605 John Rodes Blvd

    Year built
    1970
    Construction
    FRAME
    Lot size
    17.51 lot acres
    Property size
    30,908 SF
    Zone code
    M1
    Property type
    Warehouses
    APN
    27-36-23-00-00500.2-0000.00
    APU
    9223372036854775807

    Description

    This exceptional investment opportunity presents a 30,780-square-foot industrial warehouse situated on a substantial 17.51-acre lot in Melbourne, Florida. The property, built in 1970, features a single-story building with approximately 9,060 square feet of office space and 21,720 square feet dedicated to production/integration. Currently leased to Data Flow Systems, LLC, under a five-year lease, the property boasts an estimated net operating income (NOI) of $225,000, representing a 7% capitalization rate. The warehouse is fully equipped with 100% HVAC and fire sprinklers, and benefits from city water/sewer, fiber optic connectivity, and robust 3-phase power (266/480V, 600 Amps). Strategically located between Ellis Road and Eau Gallie Boulevard, with convenient access to Interstate 95, this property enjoys proximity to major employers such as Melbourne International Airport, Northrop Grumman, L3Harris, and Amazon. The expansive lot size offers significant potential for future expansion, making this a compelling investment for discerning buyers seeking strong cash flow and long-term growth prospects in a prime industrial location. The asking price is $4,995,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $680,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6973
    Latitude
    28.1145
    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
    $33,229
    $485,840
    $1,352,090
    $1,837,930
    -
    $485,840
    $1,352,090
    $1,837,930

    Comparable in this City

    • Value Estimation by Request
      600,000 SF

      Opportunity Dr

      Refrigerated & Cold Storages • 600,000 SF
      0 Opportunity Dr, Melbourne, FL 32934
      View Details
    • Value Estimation
      $560,000
      12,000 SF

      3110 Skwy Cir Ste, Unit 111

      WAREHOUSE, STORAGE • 12,000 SF
      3110 Skwy Cir Ste, Melbourne, FL 32934-7401
      View Details
    • Value Estimation
      $1,270,000
      58,354 SF

      4450 Eau Gallie Blvd

      WAREHOUSE, STORAGE • 58,354 SF
      4450 Eau Gallie Blvd, Melbourne, FL 32934-7213
      View Details
    • Value Estimation
      $930,000
      30,000 SF

      751 Enterprise Ct

      WAREHOUSE, STORAGE • 30,000 SF
      751 Enterprise Ct, Melbourne, FL 32934-9245
      View Details
    • Value Estimation
      $240,000
      1,020 SF

      710 Washburn Rd, Unit 710-1

      MINI-WAREHOUSE, STORAGE • 1,020 SF
      710 Washburn Rd, Melbourne, FL 32934-7395
      View Details
    • Value Estimation
      $235,000
      1,020 SF

      710 Washburn Rd, Unit 710-6

      MINI-WAREHOUSE, STORAGE • 1,020 SF
      710 Washburn Rd, Melbourne, FL 32934-7395
      View Details

    Similar Nearby for Sale

    • $899,999

      Melbourne Warehouse Trio: Prime Investment

      Three-unit warehouse, 74,052 sq ft lot, $899,999
      1425 Columbia Ln, Melbourne, FL 32934
      View Details
    • $1,695,000
      9,600 SF

      Melbourne Flex Space For Sale

      9,600 SF flex space with office and warehouse.
      750 North Dr, Melbourne, FL 32934
      View Details
    • $4,995,000

      Melbourne Industrial Warehouse Investment

      High-Yield Warehouse w/ Expansion Land
      605 John Rodes Blvd, Melbourne, FL 32934
      View Details
    • $6,750,000
      17.26 Acres

      I-95 Industrial Land - Melbourne, FL

      17 Acres, Prime Industrial Location
      5075 Eau Gallie Blvd, Melbourne, FL 32934
      View Details
    • $4,995,000
      30,780 SF

      Melbourne Industrial Income Property

      30,780 SF Flex Space, 17.51 Acres
      605 John Rodes Blvd, Melbourne, FL 32934
      View Details
    • $4,995,000
      30,780 SF

      Occupied Office/Manufacturing Facility For Sale

      Single tenant office and manufacturing facility with established tenant.
      605 N John Rodes Blvd, Melbourne, FL 32934
      View Details

    Similar Nearby for Lease

    • $1,895,000
      7,500 SF

      New Industrial Warehouse Space

      7,500 SF warehouse with M-1 zoning available for rent.
      691 Washburn Rd, Melbourne, FL 32934
      View Details
    • $15 SF/Yr
      10,800 SF

      Melbourne Flex Space - Wickham Business Park

      Modern Flex Space, 1,814-10,800 SF
      3050 Venture Ln, Melbourne, FL 32934
      View Details
    • Contact for pricing
      194,480 SF

      Class A Distribution Center

      Prime industrial campus in Melbourne, Florida's industrial corridor.
      500 North Dr, Melbourne, FL 32934
      View Details
    • $18 SF/Yr
      36,040 SF

      Melbourne Warehouse Space For Lease

      Modern Warehouses, Flexible Layouts
      4155 Dow Rd, Melbourne, FL 32934
      View Details
    • $11 SF/Yr
      1,500 SF

      Melbourne Flex Space For Lease

      Flex space with office and warehouse, near I-95.
      618 Washburn Rd, Melbourne, FL 32934
      View Details
    • $12 SF/Yr
      7,200 SF

      Melbourne Flex Space For Lease

      Mini storage, great location, 15 suites.
      772 Washburn Rd, Melbourne, FL 32934
      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.
    605 John Rodes Blvd
    Melbourne, FL 32934
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.