691 Washburn Rd Melbourne, FL 32934-7318
Entity Owned
9-yr Hold
~
Est. High Equity
Estimated value (blended)
$275k
Range $248k – $303k (±10%)
Property ID
US18-1920574
Property summary
AI-generated overview
This exceptional investment opportunity presents two Melbourne, Florida warehouses totaling 10,700 square feet on a 43,560 square foot lot. Building 691, a 3,200 square foot structure (240 sq ft office, 2960 sq ft warehouse), is currently 30% occupied by a tenant, boasting 14-16 foot clear height ceilings and four 12x12 foot grade-level doors. Building 697, a newly constructed (2023) 7,500 square foot metal warehouse, is currently vacant and features 9-14 foot clear height ceilings and an additional four 12x12 foot grade-level doors. Both buildings share 30 paved, striped, and lighted parking spaces, City water/sewer, and 1-phase 200-amp 240v FPL electric. The property is zoned M-1 (City of Melbourne Light Industrial), permitting warehousing, automotive uses, light assembly/manufacturing, and more. Strategically located near three I-95 interchanges and major employers including Melbourne International Airport, Northrop Grumman, and Amazon, this property offers significant potential. The asking price is $1,895,000, and seller financing is available. The property features a gross lease type and is classified as Class B. APN: 27-36-24-50-*-9.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1984
Construction
FRAME
Total area
3,200 SF
Lot
1 ac (43,560 SF)
Zoning code
M1
APN
27-36-24-50-00000.0-0009.00
UPID
US18-1920574
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
-
Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$275k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$275k
Owner & transaction history
since 2017
1 recorded transaction
Zoning & alternative use
M1 · Melbourne, FL
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$275k
Value range
$248k – $303k
±10% around blend
Estimated value / SF
$86 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
70
$248k
blend $275k
$303k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,200 SF
Lot area
1 ac
Year built
1984
Stories
1
APN
27-36-24-50-00000.0-0009.00
Assessed value
$261,150
Annual tax
$5,336
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.35M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.4 mi away · 3,207 SF
3.5 mi away · 3,022 SF
3.5 mi away · 3,022 SF
4.2 mi away · 3,600 SF
4.7 mi away · 3,002 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$275k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 66 sales
$223
-62%
County 124 sales
$209
-59%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $86/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$261k
Move the market yield to see immediate price impact.
Value / SF
$82
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$16k
$329k
$235k
$183k
$18k
$366k
$261k
$203k
$20k
$402k
$287k
$223k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$710k
1.2 mi · Feb 2026 · $269/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,336
Tax year 2023
Assessed value
$261,150
Assessed 2023
Previous assessed
$240,730
+8.5% YoY
Effective rate
2.04%
On assessed value
Assessed land
$135,930
Assessed improvement
$125,220
Land market value
$135,930
Improvement market value
$125,220
Total market value
$261,150
Applied tax rate
53.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
3,200 SF
Lot
1 ac (43,560 SF)
Zoning code
M1
APN
27-36-24-50-00000.0-0009.00
UPID
US18-1920574
Jurisdiction
BREVARD
Zoning & alternative use
M1 · Melbourne, FLZoning M1 · permitted uses
M1 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1984
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M1
Jurisdiction
Melbourne, FL
Recorded code
M1
Ownership Intelligence
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Owner identityResolved entity and name variants
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Debt & historyRecorded loans and transaction history
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