Melbourne Retail Investment
For Sale
Contact for pricing
3555 W New Haven Ave, Melbourne, FL
Retail property in a dynamic growth market with long-term lease.
Property Size25,531 SF
Lot Size3.43 Acres
Price / SF$223.24
Days on Market622
Property Features for 3555 W New Haven Ave
General Information
Standard status
Active
Size
25,531 SF
Lot size
3.43 Acres
Property subtype
RETAIL
Listing Agency:
Colliers | Fort Lauderdale
(954) 652-4600
Listed By:
Christopher Twist
(561) 602-8390
Source:
Moodyscre
Added: Feb 4, 2025
Changed: Oct 6
Last Checked: Oct 19 at 9:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers | Fort Lauderdale
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents an investment opportunity located at 3555 W. New Haven Avenue in Melbourne, Florida. The property includes a 25,531 square foot retail building on a 3.43-acre lot. The property is leased to Northern Tool + Equipment on a long-term lease with minimal landlord responsibilities and scheduled rental increases. Situated along Highway 192, a retail corridor, the property benefits from national co-tenancy and proximity to the Space Coast Town Centre development, a 170-acre mixed-use community. Melbourne, Florida, is experiencing economic growth, driven by aerospace and technology employers such as SpaceX, Lockheed Martin, and Blue Origin. The property offers a combination of location, strong tenancy, and future income growth in a rapidly expanding market. Recent capital improvements have been made to the property. The lease structure is strong.
Key Highlights
- Long‑term lease to Northern Tool + Equipment provides stable income.
- Located in a high‑growth area of Melbourne, Florida, driven by aerospace and technology industries.
- Prime location on Highway 192, a busy retail corridor.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$294,347
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,886,940
$5.9M
Cap Rate 7%
$4,204,957
$4.2M
Cap Rate 9%
$3,270,522
$3.3M
Market Conditions
NOI Build-Up for 25,531 SF
Gross rent
$459.6K $18.00/SF
− Vacancy
−$39.1K −$1.53/SF
EGI
$420.5K $16.47/SF
− OpEx
−$126.1K −$4.94/SF
NOI
$294.3K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,886,940
Cap Rate 7%
$4,204,957
Cap Rate 9%
$3,270,522
Alternative Uses
Best Use
Retail
$4.20M
$3.68M – $4.91M
NOI $294,347 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.74M
$5.89M – $7.86M
NOI $471,507 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
119k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 53%
Shops & Services 29%
Groceries 18%
Lowe's
Home Improvements & Furnishings
34,898 visits/mo
0.5 miles
Wawa
Shops & Services
34,635 visits/mo
0.5 miles
Winn-Dixie
Groceries
21,363 visits/mo
0.4 miles
Tractor Supply Co.
Home Improvements & Furnishings
13,079 visits/mo
0.2 miles
West Melbourne Ace Hardware
Home Improvements & Furnishings
6,942 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Retail property in a dynamic growth market with long-term lease.
Where is this retail space located?
The property is located at 3555 W New Haven Ave Melbourne, FL.
What is the asking price?
The asking price for this property is $5,699,485.
What are key features of this property?
This property features: Long‑term lease to Northern Tool + Equipment provides stable income.; Located in a high‑growth area of Melbourne, Florida, driven by aerospace and technology industries.; Prime location on Highway 192, a busy retail corridor.
