621 Palmetto AveMelbourne, FL 32901

Property Details for 621 Palmetto Ave

Year built

1947

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.13 AC

Property size (Sq ft)

952 SF

Zone code

C3

Property type

Office properties

Property subtype

Office buildings

APN

28-37-03-01-00039.0-0009.00

APU

9223372036854775807

Description

This exceptional single-tenant warehouse, located in the vibrant Downtown Melbourne area, offers 900 square feet of versatile space perfect for storage or workspace needs. The building features a 16-foot clear height ceiling, easily accommodating large vehicles like trucks, RVs, or boats. Access is convenient via a double-car garage door. The property also includes a private gated parking area with capacity for up to five vehicles, providing ample parking and security. Situated on a 0.13-acre lot, this standalone building (APN: 28-37-03-01-00039.0-0009.00) presents a unique opportunity. Potential tenants should be aware of the following requirements: a minimum credit score of 600, proof of income at least three times the monthly rent, and payment of a $75 per adult application fee, lease preparation fee, security deposit, first month's rent, and last month's rent. Tenant responsibilities include applicable taxes, electricity, repairs, parking lot maintenance, and liability insurance. This property is a single-story structure with one suite. Don't miss this chance to secure this prime industrial space.

• CAP approach

  CAP return

  Valuation

  6%

  $261,648

  6.5%

  $241,521

  7%

  $224,270

• Comparable approach

  Method

  Valuation

  Relative Method

  $149,493

  Geo Method

  $149,493

• Alternative Use

  Use

  Valuation

  Residential

  $299,486

  Hospitality

  $274,328

  Educational

  $228,237

  Medical

  $236,087

  Retail

  $355,036

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.08

Longitude

-80.6104

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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