Zoned C2 Retail
For Sale
Contact for pricing
780 W New Haven Ave, Melbourne, FL 32901
Three-property retail assemblage with ample parking, two occupied buildings, and a vacant lot on a high-traffic artery.
Property Size4,673 SF
Lot Size0.65 Acres
Price / SF$208.65
Days on Market1065
Property Features for 780 W New Haven Ave
General Information
Standard status
Active
Size
4,673 SF
Lot size
0.65 Acres
Property subtype
RETAIL
Zoning
C2
Occupancy
100%
Additional Details
Business Included
No
Traffic Count
35,301 vehicles/day
Listing Agency:
JM Real Estate - Melbourne
(321) 749-8921
Listed By:
Shey Anderson
(321) 749-8921
Source:
Moodyscre
Added: Sep 11, 2023
Changed: Aug 8
Last Checked: Aug 8 at 6:36PM
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 JM Real Estate - Melbourne
Investment Insights
Based on property information with market context.
This 3-property retail assemblage includes two buildings and one vacant lot, totaling 4,673 square feet across 0.65 acres. The buildings are currently 100% occupied, and the property offers ample parking. The assemblage is zoned C2.
Located along West New Haven Avenue (also known as 192), the site benefits from high traffic counts of 35,301 vehicles daily. C2 zoning allows office, retail, financial uses, restaurant uses, and more. Please note: this offering is by appointment only, and tenants should not be disturbed.
Located along West New Haven Avenue (also known as 192), the site benefits from high traffic counts of 35,301 vehicles daily. C2 zoning allows office, retail, financial uses, restaurant uses, and more. Please note: this offering is by appointment only, and tenants should not be disturbed.
Key Highlights
- 3‑property assemblage on West New Haven (aka 192) with high traffic counts of 35,301 vehicles daily
- 0.65‑acre total acreage with 4,673 SF total building square footage
- Zoned C2, allowing office, retail, financial, restaurant, and more
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
$53,875
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
5.53%
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%
$1,077,500
$1.1M
Cap Rate 7%
$769,643
$769.6K
Cap Rate 9%
$598,611
$598.6K
Market Conditions
NOI Build-Up for 4,673 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
$84.1K $18.00/SF
− Vacancy
−$7.1K −$1.53/SF
EGI
$77.0K $16.47/SF
− OpEx
−$23.1K −$4.94/SF
NOI
$53.9K $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 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%
$1,077,500
Cap Rate 7%
$769,643
Cap Rate 9%
$598,611
Alternative Uses
Best Use
Retail
$769.6K
$673.4K – $897.9K
NOI $53,875 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,301 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
35,301 VPD
Traffic count
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
81k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 26%
Home Improvements & Furnishings 7%
Electronics 3%
McDonald's
Dining
32,737 visits/mo
0.4 miles
7-Eleven
Shops & Services
11,383 visits/mo
0.4 miles
Dirty Dog's Car Wash
Shops & Services
7,008 visits/mo
0.1 miles
SUBWAY
Dining
5,780 visits/mo
0.4 miles
Tropical Smoothie Cafe
Dining
5,362 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All City Florist, Inc. — 316 w new haven ave, melbourne, fl 32901
- All City Florist — 2110 Dairy Rd, West Melbourne, FL 32904
- Flagler Floral Melbourne — 221 W Hibiscus Blvd, Melbourne, FL 32901
Frequently Asked Questions
What type of property is this?
Storefront property - Three-property retail assemblage with ample parking, two occupied buildings, and a vacant lot on a high-traffic artery.
Where is this storefront property located?
The property is located at 780 W New Haven Ave Melbourne, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3‑property assemblage on West New Haven (aka 192) with high traffic counts of 35,301 vehicles daily; 0.65‑acre total acreage with 4,673 SF total building square footage; Zoned C2, allowing office, retail, financial, restaurant, and more
