Property profile

621 Palmetto Ave Melbourne, FL 32901

OFF-MARKET
Office buildings
Property ID
US19-0469290
952 SF 0.13 ac lot Built 1947
Individually Owned Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional single-tenant warehouse, located in the vibrant Downtown Melbourne area, offers 900 square feet of versatile space perfect for storage or workspace needs. The building features a 16-foot clear height ceiling, easily accommodating large vehicles like trucks, RVs, or boats. Access is convenient via a double-car garage door. The property also includes a private gated parking area with capacity for up to five vehicles, providing ample parking and security. Situated on a 0.13-acre lot, this standalone building (APN: 28-37-03-01-00039.0-0009.00) presents a unique opportunity. Potential tenants should be aware of the following requirements: a minimum credit score of 600, proof of income at least three times the monthly rent, and payment of a $75 per adult application fee, lease preparation fee, security deposit, first month's rent, and last month's rent. Tenant responsibilities include applicable taxes, electricity, repairs, parking lot maintenance, and liability insurance. This property is a single-story structure with one suite. Don't miss this chance to secure this prime industrial space.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1947
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 952 SF
Lot 0.13 ac (5,663 SF)
Zoning code C3
APN 28-37-03-01-00039.0-0009.00
UPID US19-0469290

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
  • Furniture & Home Goods

Location

621 Palmetto Ave Melbourne, FL 32901-4723
Melbourne metro Census 64800 PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$295k

Owner & transaction history

since 2025
Last sale
$335,000
7 recorded transactions
2025
$335,000
2018
Price N/A
2018
$149,000
2012
$106,000
2005
$125,000
1999
$74,900
1989
$47,800

Zoning & alternative use

C3 · Melbourne, FL
Zoning description

This district is intended to apply to the central commercial, professional, financial, governmental and civic core of the city. Lot and building regulations are intended to permit intensive development of the area and to…

General category CIVIC_INSTITUTIONAL

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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