580 Wickham RdMelbourne, FL 32904

  • Office properties
  • 6,189 SF
For Sale
$2,100,000 View listing

Property Details for 580 Wickham Rd

Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
1.03 AC
Property size (Sq ft)
6,189 SF
Zone code
CP
Property type
Office properties
Property subtype
Office buildings
APN
27-36-24-00-00768.0-0000.00
APU
9223372036854775807

Description

This exceptional 8,034-square-foot flex space industrial building, situated on a 0.96-acre lot at 580 S Wickham Road in Melbourne, Florida (32904), presents a compelling investment opportunity. The property, built in 1980 and boasting a 14-foot ceiling height, is currently zoned M2 - General Industrial, offering significant potential. The building features ten bay doors, with six bays equipped with roll-up doors on each side, along with dedicated showroom and office areas. Its current use as a transmission shop highlights its adaptability. Conveniently located near Ellis Road, providing quick access to I-95, and in close proximity to Melbourne International Airport, this property benefits from excellent accessibility. The property is part of a Community Redevelopment Area (CRA) designated within the "Horizon 2030 Comprehensive Plan," presenting opportunities for future infill and redevelopment within the West Melbourne Opportunity Area. The asking price is $2,100,000. While some equipment may be included in the sale, the building is available for purchase only. The APN is 27-36-36-00-14. This is a rare chance to acquire a well-positioned industrial property with significant upside potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,700,986
    6.5%
    $1,570,141
    7%
    $1,457,988
  • Comparable approach

    Method
    Valuation
    Relative Method
    $971,859
    Geo Method
    $971,859
  • Alternative Use

    Use
    Valuation
    Residential
    $1,946,975
    Hospitality
    $1,783,418
    Educational
    $1,483,783
    Medical
    $1,534,813
    Retail
    $2,308,107
580 Wickham Rd, Melbourne, Florida

Location Insight

City
Melbourne
County
Brevard
State
Florida
Latitude
28.1158
Longitude
-80.6732
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
$11,668
$378,000
$327,890
$705,890
-
$378,000
$327,890
$705,890

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