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    Property profile & analytics

    8455 Wickham Rd Melbourne, FL 32940-6607

    • Outlet malls
    • 178,191 SF
    • 18.19 lot acres
    OFF-MARKET
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0560104
    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

    • Pizza Hut Express / Pizza Takeout / Pizza Restaurant
    • Target Grocery / Grocery Store / Supermarket
    • Joyce M. Musil, PharmD / Pharmacy
    • Jenna N. Cervi, PharmD / Pharmacy
    • Target Mobile / Cell Phone Store / Cell Phone Accessory Store

    Property Details for 8455 Wickham Rd

    Year built
    2004
    Construction
    CONCRETE
    Lot size
    18.19 lot acres
    Property size
    178,191 SF
    Zone code
    TU-2
    Property type
    Outlet malls
    APN
    26-36-15-00-00260.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,310,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.7202
    Latitude
    28.2283
    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
    $158,378
    $2,510,810
    $8,578,340
    $11,089,150
    -
    $2,510,810
    $8,578,340
    $11,089,150

    Comparable in this City

    • Value Estimation
      $1,070,000
      104,835 SF

      5100 Wickham Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 104,835 SF
      5100 Wickham Rd, Melbourne, FL 32940-7124
      View Details
    • Value Estimation
      $7,560,000
      162,485 SF

      4305 Pineda Cswy

      WHOLESALE OUTLET, DISCOUNT STORE • 162,485 SF
      4305 Pineda Cswy, Melbourne, FL 32940-2316
      View Details
    • Value Estimation
      $1,340,000
      210,915 SF

      8500 Wickham Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 210,915 SF
      8500 Wickham Rd, Melbourne, FL 32940-6600
      View Details
    • Value Estimation
      $1,235,000
      41,967 SF

      7640 Wickham Rd Ste, Unit 109

      SHOPPING CENTER, STRIP CENTER • 41,967 SF
      7640 Wickham Rd Ste, Melbourne, FL 32940-8147
      View Details
    • Value Estimation
      $510,000
      13,000 SF

      335 Pineda Ct Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 13,000 SF
      335 Pineda Ct Ste, Melbourne, FL 32940-7504
      View Details
    • Value Estimation
      $560,000
      9,098 SF

      2338 Citadel Way Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 9,098 SF
      2338 Citadel Way Ste, Melbourne, FL 32940-6184
      View Details

    Similar Nearby for Sale

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      7,402 SF

      Turnkey Restaurant Opportunity in Melbourne

      Well-known Italian restaurant with liquor license in premier shopping destination.
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    • $3,900,000
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      Suntree/Viera Office Building

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    • $1,350,000
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      Wickham Road Showroom/Warehouse

      6,289 SF building with showroom, offices, and warehouse space.
      5060 Industry Dr, Melbourne, FL 32940
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    • Contact for pricing
      5,725 SF

      Restaurant Outparcel with Patio Space

      5,725 SF restaurant space with covered patio.
      5360 Stadium Pkwy, Rockledge, FL 32940
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    • $3,900,000
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      New Construction Retail Opportunity

      New construction retail property in a rapidly growing area.
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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
      1,052 SF

      Office with Garage and Lot

      Office space with garage and large lot for outdoor storage.
      2735 Allen Hill Ave, Melbourne, FL 32940
      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

    Property Visit Statistics

    • Visits by month
      174.8k
    • Visitors by month
      103.7k
    • Avg Time on site
      31 min
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    8455 Wickham Rd
    Melbourne, FL 32940-6607
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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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