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    Property profile & analytics

    Melbourne, FL 32901

    • Assisted living facilities
    • 68,259 SF
    • 4.99 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6889570
    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

    • Assisted living facilities

    Property Details

    Year built
    2009
    Construction
    FRAME
    Lot size
    4.99 lot acres
    Property size
    68,259 SF
    Zone code
    M1
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    27-37-33-00-00252.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6322
    Latitude
    28.0929
    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
    $150,775
    $1,086,640
    $7,137,840
    $8,224,480
    -
    $1,086,640
    $7,137,840
    $8,224,480

    Comparable in this City

    • Value Estimation by Request
      43,208 SF

      1765 Hibiscus Blvd

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    • Value Estimation by Request
      52,763 SF

      4251 Stack Blvd

      HOMES (RETIRED, NURSING) • 52,763 SF
      4251 Stack Blvd, Melbourne, FL 32901-8526
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    • Value Estimation by Request
      74,928 SF

      101 Florida Ave

      HOMES (RETIRED, NURSING) • 74,928 SF
      101 Florida Ave, Melbourne, FL 32901-8301
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    • Value Estimation
      $875,000
      112,308 SF

      615 New Hvn Ave

      HOMES (RETIRED, NURSING) • 112,308 SF
      615 New Hvn Ave, Melbourne, FL 32901-5475
      View Details
    • Value Estimation
      $805,000
      31,516 SF

      1420 Oak St

      HOMES (RETIRED, NURSING) • 31,516 SF
      1420 Oak St, Melbourne, FL 32901-3113
      View Details
    • Value Estimation by Request
      150,652 SF

      650 Strawbridge Ave

      HOMES (RETIRED, NURSING) • 150,652 SF
      650 Strawbridge Ave, Melbourne, FL 32901-4759
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      374,616 SF

      Melbourne Senior Living Development

      8-Acre Mixed-Use Redevelopment Opportunity
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    • $1,500,000
      4,948 SF

      Versatile Commercial Property in Melbourne

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    • Contact for pricing
      609,840 SF

      Cherry Valley Turnpike Office Space

      Prime Marcellus Office/Retail Opportunity
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    • $450,000

      Melbourne Retail Land Opportunity

      6,000 SF Pad Ready for Development
      1100 Broadband Dr, Melbourne, FL 32901
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    • $900,000
      1.50 Acres

      Melbourne Commercial Land - 1.5 Acres

      Prime 1.5-acre commercial lot near Melbourne Airport.
      1737 Hibiscus Blvd, Melbourne, FL 32901
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    • Contact for pricing
      594,158 SF

      Melbourne City Centre Campus

      Large development opportunity, prime location.
      3999 Babcock St, Melbourne, FL 32901
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    Similar Nearby for Lease

    • $15 SF/Yr
      21,114 SF

      Melbourne Office Space Available

      1,200 SF Medical/Creative Office Suite
      551 Apollo Blvd, Melbourne, FL 32901
      View Details
    • $23 SF/Yr
      7,930 SF

      Melbourne Office Space: 3 Suites Available

      New Construction, Flexible Suites, Ample Parking
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    • Contact for pricing
      4,750 SF

      Melbourne Office Space for Lease

      Prime Hibiscus Blvd location, flexible office suites.
      1800 Hibiscus Blvd, Melbourne, FL 32901
      View Details
    • $25 SF/Yr
      71,989 SF

      Melbourne Office Space: River Views

      Executive & Medical Suites Available.
      709 Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $15 SF/Yr
      900 SF

      Downtown Melbourne Warehouse Space

      900 sq ft Warehouse - Ideal for Storage
      621 Palmetto Ave, Melbourne, FL 32901
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    • $17 SF/Yr
      1,210 SF

      Melbourne Office Space - NASA Blvd

      Prime Office, 1210 sq ft, Melbourne
      175 Nasa Blvd, Melbourne, FL 32901
      View Details
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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.

    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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