551 Apollo BlvdMelbourne, FL 32901

Property Details for 551 Apollo Blvd

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.17 AC

Property size (Sq ft)

25,406 SF

Zone code

C2

Property type

Office buildings

APN

27-37-28-00-00751.A-0000.00

APU

2737280000751A000000

Description

This well-maintained, multi-tenant office building, located at 551 S. Apollo Blvd., offers a 1,200 square foot suite for lease. Situated across from Melbourne International Airport (MLB), this Class C building boasts a total of 21,114 square feet across 15 suites. The available space is part of a larger 1,200 square foot contiguous area, with a minimum divisible space of 1,200 square feet. Built in 1983, the property sits on 2.17 acres of land (APN: 27-3728-00-751.A). The building is ideal for medical, traditional, or creative office uses. The Space Coast offers a compelling business environment, combining low operating costs, attractive incentives, and a skilled workforce. This location benefits from a strong, diversified economy, recognized for its high-tech sector and robust wage growth. Suite build-out varies. This is an excellent opportunity to establish a presence in a thriving area with convenient airport access. The property is currently zoned for office use. Contact us today to schedule a viewing.

• CAP approach

  CAP return

  Valuation

  6%

  $6,982,590

  6.5%

  $6,445,468

  7%

  $5,985,077

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,989,504

  Geo Method

  $3,989,504

• Alternative Use

  Use

  Valuation

  Residential

  $7,992,380

  Hospitality

  $7,320,977

  Educational

  $6,090,967

  Medical

  $6,300,445

  Retail

  $9,474,838

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1009

Longitude

-80.6228

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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