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

    6365 Wickham Rd Melbourne, FL 32940

    • Strip malls
    • 9,450 SF
    • 11.48 lot acres
    For Lease
    View listing
    $35 SF/Yr
    Last Sale
    Apr 04, 2023
    $18,500,000
    Value Estimations
    $14,155,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-8134077
    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

    • Orangetheory Fitness / Gym / Personal Trainer
    • 3Natives / Health Food Restaurant
    • Quest Diagnostics Melbourne Wickham / Blood Testing Service / Drug Testing Service
    • Asian Time - Asian Cuisine and Sushi Bar / Restaurant
    • Quest Diagnostics / Diagnostic Center / Blood Testing Service

    Property Details for 6365 Wickham Rd

    Year built
    2015
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.48 lot acres
    Property size
    9,450 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    26-36-13-WH-0000A.0-0007.00
    APU
    263613WH0000A0000700

    Description

    This exceptional retail investment opportunity, Pineda Landings, is located in the thriving Viera/Suntree area of Melbourne, Florida, at the highly visible intersection of Wickham Road and Jordan Blass Drive. The property comprises 49,995 square feet across two single-story buildings, built in 2015, and sits on an expansive 11.48-acre lot. Currently, there are 1,070 square feet of vacant space available, offering immediate potential for expansion or new tenancy. The center boasts 322 total parking spaces and is zoned PUD. Pineda Landings benefits from a strong tenant roster, including a top-performing Fresh Market and other established businesses such as Orange Theory, Hand and Stone Massage, AT&T, and Super Cuts. The property's strategic location within a rapidly growing area, known for its high concentration of engineers and diverse population, makes it an attractive investment. Furthermore, a 1.2-acre build-to-suit development site is available, presenting additional development opportunities. The property's APN is 26-36-13-WH-A-7, located in Brevard County, Florida, zip code 32940. This is a rare chance to acquire a well-positioned retail center in one of Florida's fastest-growing markets.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,155,000
      ML approach
      $9,030,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6726
    Latitude
    28.2171
    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
    $146,033
    $3,500,480
    $7,087,200
    $10,587,680
    -
    $3,500,480
    $7,087,200
    $10,587,680

    Comparable in this City

    • Value Estimation
      $460,000
      13,472 SF

      8530 Wickham Rd Ste, Unit 104

      SHOPPING CENTER, STRIP CENTER • 13,472 SF
      8530 Wickham Rd Ste, Melbourne, FL 32940-6616
      View Details
    • Value Estimation
      $445,000
      6,724 SF

      6455 Wickham Rd, Unit 103

      SHOPPING CENTER, STRIP CENTER • 6,724 SF
      6455 Wickham Rd, Melbourne, FL 32940-2020
      View Details
    • Value Estimation
      $390,000
      7,361 SF

      5555 Wickham Rd Ste, Unit 104

      SHOPPING CENTER, STRIP CENTER • 7,361 SF
      5555 Wickham Rd Ste, Melbourne, FL 32940-8725
      View Details
    • Value Estimation
      $4,165,000
      7,719 SF

      6670 Colonnade Ave

      SHOPPING CENTER, STRIP CENTER • 7,719 SF
      6670 Colonnade Ave, Melbourne, FL 32940-6465
      View Details
    • Value Estimation
      $1,800,000
      9,432 SF

      7777 Wickham Rd Ste, Unit 16

      SHOPPING CENTER, STRIP CENTER • 9,432 SF
      7777 Wickham Rd Ste, Melbourne, FL 32940-7978
      View Details
    • Value Estimation
      $450,000
      4,445 SF

      5515 Porada Dr

      SHOPPING CENTER, STRIP CENTER • 4,445 SF
      5515 Porada Dr, Melbourne, FL 32940-8420
      View Details

    Similar Nearby for Sale

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      5,725 SF

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    Similar Nearby for Lease

    • Contact for pricing
      2,573 SF

      Retail Space in Viera

      Grocery and home improvement anchored lifestyle center. Flexible sizing available.
      Viera Blvd, Melbourne, FL 32940
      View Details
    • $35 SF/Yr
      49,995 SF

      Melbourne Retail Center Investment Opportunity

      High-performing retail center in Melbourne, FL
      6365 Wickham Rd, Melbourne, FL 32940
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space in Viera

      Grocery and home improvement anchored lifestyle center, flexible sizing available.
      1965 Viera Blvd, Rockledge, FL 32940
      View Details
    • $28 SF/Yr
      5,984 SF

      Prime Retail Space, Wickham Rd

      High-traffic location, two suites available
      6455 Wickham Rd, Melbourne, FL 32940
      View Details
    • $3,500 /Mo
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      Office with Garage and Lot

      Office space with garage and large lot for outdoor storage.
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      View Details
    • $25 SF/Yr
      14,544 SF

      Melbourne Office Space - 7,295 SF

      First-floor office, ideal for various uses.
      7750 Wickham Rd, Melbourne, FL 32940
      View Details
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    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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