Commercial Land with Three-Side
For Sale
$849,900
Pending
2808 S Harbor City Boulevard, Melbourne, FL 32901
Commercial Sale, Melbourne, FL
Property Size7,120 SF
Lot Size1.00 Acre
Days on Market894
Property Features for 2808 S Harbor City Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Garage
Fencing
Chain Link, Fenced
Subdivision
Riverview Heights Subd
Lot features
Easement Access
Directions
Northbound from University Blvd on S Harbor City Blvd (US1) into Downtown Melbourne, on west side (left). Southbound from Fee Avenue entering Downtown Melbourne, crossing US 192 then E New Haven Avenue passing thru the Primary Dining Retail Core, passing over Crane Creek, subject property on west side (right). 2808 is located in the Downtown (South Expansion Area) of Melbourne, 32901
Standard status
Pending
APN
28-37-11-12-000k2.0-0001.00
Size
4,102 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2023
Tax Description
RIVERVIEW HEIGHTS SUBD LOTS 1, 2, 3, 4, 5 & 6 BLK K2 EXC HWY R/W
Tax Annual Amount
5608
Legal Description
RIVERVIEW HEIGHTS SUBD LOTS 1, 2, 3, 4, 5 & 6 BLK K2 EXC HWY R/W
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
3-phase power
three roll-up doors
Building Details
Year built
1955
Floors in Building
1
Number of units
1
Flooring type
Terrazzo, Concrete
Building materials
Block
Roof type
Metal, Aluminum
Listing Agency:
Real Estate Ink Co. Inc.
(321) 821-4752
Listed By:
Mark Herendeen · License #3429914
(321) 863-4426
Added: Mar 19, 2024
Changed: Aug 25
Last Checked: Aug 29 at 11:06AM
MLS# 1008270
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1-acre commercial parcel includes an existing block structure with terrazzo and concrete flooring, metal and aluminum roofing, chain-link fencing, a garage, public water, and public sewer. The property has 3-phase power and three roll-up doors measuring approximately 10 feet each. A 2,400-square-foot showroom configuration and 7,120 square feet of total covered area are identified in the property information, although the reported building measurements are not consistent.
The site has 300 feet of US-1 frontage and access from the highway, a rear area, and a side alley. It is located within the Downtown S Expansion area and carries current C-2 zoning, with C-3 identified as the future land use designation. City Council unanimously approved conditional use for a microbrewery and brick-oven pizzeria. The 2023 traffic count is 36,180, with Riverview Park and the Indian River Lagoon less than 1/4 mile away, the beach 3 miles away, MLB 4 miles away, and Florida Tech 2 miles away.
The site has 300 feet of US-1 frontage and access from the highway, a rear area, and a side alley. It is located within the Downtown S Expansion area and carries current C-2 zoning, with C-3 identified as the future land use designation. City Council unanimously approved conditional use for a microbrewery and brick-oven pizzeria. The 2023 traffic count is 36,180, with Riverview Park and the Indian River Lagoon less than 1/4 mile away, the beach 3 miles away, MLB 4 miles away, and Florida Tech 2 miles away.
Key Highlights
- 1‑acre commercial land parcel
- 300 feet of frontage on US‑1
- Access from US‑1, a rear area, and a side alley
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,882
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,640
$837.6K
Cap Rate 7%
$598,314
$598.3K
Cap Rate 9%
$465,356
$465.4K
Market Conditions
NOI Build-Up for 4,102 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$68.9K $16.80/SF
− Vacancy
−$4.5K −$1.09/SF
EGI
$64.4K $15.71/SF
− OpEx
−$22.6K −$5.50/SF
NOI
$41.9K $10.21/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,640
Cap Rate 7%
$598,314
Cap Rate 9%
$465,356
Alternative Uses
Best Use
Flex RnD
$598.3K
$523.5K – $698.0K
NOI $41,882 @ 7.0% cap · market cap 4.93%
Second Best
Industrial
$358.1K
$313.3K – $417.8K
NOI $25,067 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.08M
$947.0K – $1.26M
NOI $75,756 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36,180 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Explore this area
Business Placement
Demographics for 32901, FL
26,286
Population
13,241
Households
2
Avg Household Size
46
Median Age
31%
College-Educated
90%
High-School Grad
12.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$50,646
Median Household Income
$31,929
Median Earnings
$1,349
Median Rent
$244,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - C-2-zoned parcel with approved conditional use for a microbrewery and brick-oven pizzeria.
Where is this commercial land located?
The property is located at 2808 S Harbor City Boulevard Melbourne, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 1‑acre commercial land parcel; 300 feet of frontage on US‑1; Access from US‑1, a rear area, and a side alley
