Property profile & analytics
708 Palmetto Ave Melbourne, FL 32901
This commercial space is located one block south of downtown Melbourne, Florida. The property is configured in a way that is suitable for a hair salon, but it could be converted into office space for a doctor's office, insurance agency, law firm, or other business. The building has 1,260 square feet of living area and is situated on a 0.16-acre lot. It features four parking spaces, plus a garage.
- Office space
- 1,331 SF
- 0.16 lot acres
For Lease
View listing
$1,700 /Mo
Value Estimations
$235,000
Cap Rate Potential
6.3%
Office space
Location Intelligence
Property ID
US18-3760799
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
- Waves The Salon / Beauty Salon
- Blowdye Salon / Beauty Salon
Property Details for 708 Palmetto Ave
- Year built
- 1938
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.16 lot acres
- Property size
- 1,331 SF
- Zone code
- C1
- Property type
- Office space
- APN
- 28-37-03-01-00035.0-0013.00
- APU
- 9223372036854775807
Property Overview
This commercial space is located one block south of downtown Melbourne, Florida. The property is configured in a way that is suitable for a hair salon, but it could be converted into office space for a doctor's office, insurance agency, law firm, or other business. The building has 1,260 square feet of living area and is situated on a 0.16-acre lot. It features four parking spaces, plus a garage.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $245,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $255,000
- 6.5%
- $235,000
- 7%
- $220,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $224,000
Market price range: $119k - $343k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $230,000 Current use
- AUTO REPAIR, GARAGE
- $295,000 Change: +30% Conversion: Difficult
- OFFICE BUILDING
- $230,000 Change: +2% Conversion: Easy
- MEDICAL BUILDING
- $215,000 Change: -7% Conversion: Difficult
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.609
- Latitude
- 28.0804
- 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
$2,481
$85,500
$41,810
$127,310
-
$85,500
$41,810
$127,310
