1900 Dairy RdWest Melbourne, FL 32904

Property Details for 1900 Dairy Rd

Year built

1985

Construction

CONCRETE

Lot size

4.40 AC

Property size (Sq ft)

16,952 SF

Zone code

C1

Property type

Office buildings

APN

28-37-05-00-00018.0-0000.00

APU

9223372036854775807

Description

Oakwood Square, located at 1900-1970 Dairy Rd, West Melbourne, FL 32904, offers versatile office space for lease. This three-building complex, totaling 46,884 square feet, features a variety of unit sizes, ranging from 1,545 to 2,184 contiguous square feet, with a total of 3,729 square feet currently vacant. The property sits on a 4.4-acre lot and is classified as a Class B building constructed in 1985. The single-story buildings offer ample parking. The property is zoned City of West Melbourne Commercial New Haven (C-NH) in Brevard County and is conveniently located in the Space Coast submarket, providing easy access to Melbourne, Palm Bay, beaches, and surrounding areas via Interstate 95, US 192, and US 1. The property boasts a variety of configurations, suitable for both open spaces and multi-office setups. Recent improvements include all roofs replaced in 2016, buildings painted in 2018, and parking lot resurfacing in 2022. The property is suitable for traditional, executive, medical, and creative office uses, as well as light retail. Base rent starts at $15 per square foot, NNN, plus an estimated $2.57 per square foot for CAM. The APN is 28-37-05-00-18.

• CAP approach

  CAP return

  Valuation

  6%

  $4,659,091

  6.5%

  $4,300,700

  7%

  $3,993,507

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,661,972

  Geo Method

  $2,661,972

• Alternative Use

  Use

  Valuation

  Residential

  $5,332,868

  Hospitality

  $4,884,878

  Educational

  $4,064,161

  Medical

  $4,203,934

  Retail

  $6,322,028

Location Insight

City

West Melbourne

County

Brevard

State

Florida

Latitude

28.0807

Longitude

-80.6385

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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