605 John Rodes BlvdMelbourne, FL 32934

Property Details for 605 John Rodes Blvd

Year built

1970

Construction

FRAME

Lot size

17.51 AC

Property size (Sq ft)

30,908 SF

Zone code

M1

Property type

Warehouses

APN

27-36-23-00-00500.2-0000.00

APU

9223372036854775807

Description

This exceptional investment opportunity presents a 30,780-square-foot industrial warehouse situated on a substantial 17.51-acre lot in Melbourne, Florida. The property, built in 1970, features a single-story building with approximately 9,060 square feet of office space and 21,720 square feet dedicated to production/integration. Currently leased to Data Flow Systems, LLC, under a five-year lease, the property boasts an estimated net operating income (NOI) of $225,000, representing a 7% capitalization rate. The warehouse is fully equipped with 100% HVAC and fire sprinklers, and benefits from city water/sewer, fiber optic connectivity, and robust 3-phase power (266/480V, 600 Amps). Strategically located between Ellis Road and Eau Gallie Boulevard, with convenient access to Interstate 95, this property enjoys proximity to major employers such as Melbourne International Airport, Northrop Grumman, L3Harris, and Amazon. The expansive lot size offers significant potential for future expansion, making this a compelling investment for discerning buyers seeking strong cash flow and long-term growth prospects in a prime industrial location. The asking price is $4,995,000.

• CAP approach

  CAP return

  Valuation

  6%

  $17,862,400

  6.5%

  $16,488,400

  7%

  $15,310,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,765,570

  Geo Method

  $7,765,570

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $8,652,440

  Mixed-Use / Specialty

  $8,777,050

  Hospitality / Lodging

  $6,641,840

  Office

  $8,886,830

  Institutional / Educational

  $9,180,160

  Residential Income

  $10,740,800

  Multifamily

  $12,020,100

  Automotive / Energy

  $7,868,710

  Parking / Income-Based Land

  $2,561,810

  Restaurant / Food Service

  $4,896,780

  Healthcare / Senior Housing

  $8,841,290

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.1145

Longitude

-80.6973

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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