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    Property profile & analytics

    620 New Hvn Ave, Unit 201 Melbourne, FL 32901-5424

    • Industrial properties
    • 4,443 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimation
    $890,000
    Last Sale
    Apr 02, 2021
    $793,000
    Location Intelligence
    Property ID
    US18-0573941
    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

    • Rita's Italian Ice & Frozen Custard / Ice Cream Shop / Dessert Restaurant
    • Wallaby Windows / Window Installation Service
    • The Shop Melbourne / Barber Shop

    Property Details for 620 New Hvn Ave

    Year built
    1954
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.19 lot acres
    Property size
    4,443 SF
    Zone code
    C3
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    28-37-03-FC-00040.0-0007.00
    APU
    283703FC000400000700

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $900,000

    • CAP approach

      CAP return
      Estimation
      6%
      $875,000
      6.5%
      $880,000
      7%
      $780,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $845,000
      Geo Method
      $855,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $970,000
      Retail
      $780,000
      Mixed-Use
      $805,000
      Hospitality
      $1,000,000
      Educational
      $1,025,000
      Residential Income
      $775,000
      Energy
      $890,000
      Income-Based Land
      $905,000
      Food Service
      $745,000

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6104
    Latitude
    28.0788
    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
    $11,518
    $245,700
    $397,760
    $643,460
    -
    $245,700
    $397,760
    $643,460

    Comparable in this City

    • Value Estimation
      $280,000
      1,800 SF

      46 New Hvn Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1,800 SF
      46 New Hvn Ave, Melbourne, FL 32901-4406
      View Details
    • Value Estimation
      $205,000
      5,643 SF

      2018 Melbourne Ct

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 5,643 SF
      2018 Melbourne Ct, Melbourne, FL 32901-5619
      View Details
    • Value Estimation
      $340,000
      5,178 SF

      2012 Vernon Pl

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 5,178 SF
      2012 Vernon Pl, Melbourne, FL 32901-4433
      View Details
    • Value Estimation by Request
      2,213 SF

      1605 Waverly Pl

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 2,213 SF
      1605 Waverly Pl, Melbourne, FL 32901-4639
      View Details
    • Value Estimation by Request
      13,668 SF

      2911 Hbr City Blvd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 13,668 SF
      2911 Hbr City Blvd, Melbourne, FL 32901-7259
      View Details
    • Value Estimation
      $250,000
      2,607 SF

      1008 Strawbridge Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 2,607 SF
      1008 Strawbridge Ave, Melbourne, FL 32901-4909
      View Details

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    Similar Nearby for Lease

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      Mini storage spaces for rent near downtown Melbourne.
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    • New
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      Flex space near Downtown Melbourne with visibility and access.
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      View Details
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    620 New Hvn Ave, Unit 201
    Melbourne, FL 32901-5424
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    Realmo Value Estimation

    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.

    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.

    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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