Historic Mixed-Use Income
1584-1590 Highland Avenue Melbourne, FL 32935
For Sale
Contact for pricing
Pending
C3 zoned mixed-use property with a first-level salon/medi spa and 11 upper-level rooming units, fully leased.
Days on Market104
Property Features for 1584-1590 Highland Avenue
General Information
- Standard status
- Pending
- Property subtype
- Special Purpose
Listing Agency:
One Sotheby's International
(321) 243-1218
Listed By:
Stephanie Dandridge · License #3273655
Source:
Crexi
Added: Apr 13
Changed: Jul 23
Last Checked: Jul 24 at 12:41PM
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 One Sotheby's International
Investment Insights
Based on property information with market context.
Built in the early 1900s, this historic C3 zoned property formerly included the Amuse Theater and The Mathers Hotel. Today it operates as a commercial and mixed-use income asset, featuring a busy salon and medi spa on the first level and an 11-unit rooming house on the upper level. The property is reported as 100% occupied with stable leases, and all plumbing and electrical have been renewed.
Located in the Eau Gallie Arts District, the surrounding area includes shops, art studios, eateries, bars, salons, and events. The property is described as approximately 10 minutes to Melbourne International Airport, about 10 minutes to the Beaches, and roughly 50 minutes to Orlando International Airport.
The seller-provided proforma shows Net Operating Income (NOI) of $159k annually, reflecting a 7.2% cap rate.
Located in the Eau Gallie Arts District, the surrounding area includes shops, art studios, eateries, bars, salons, and events. The property is described as approximately 10 minutes to Melbourne International Airport, about 10 minutes to the Beaches, and roughly 50 minutes to Orlando International Airport.
The seller-provided proforma shows Net Operating Income (NOI) of $159k annually, reflecting a 7.2% cap rate.
Key Highlights
- C3 zoned mixed‑use property formerly the Amuse Theater and The Mathers Hotel from the early 1900s
- 100% occupied with stable leases; 1st‑level salon/medi spa plus 11 upper‑level rooming units
- Proforma NOI of $159k/year with a 7.2% CAP
Property Analytics
Location Intelligence
Current Use by Public Records
Spa & wellness properties
FAQs
What type of property is this?
Apartment building - C3 zoned mixed-use property with a first-level salon/medi spa and 11 upper-level rooming units, fully leased.
Where is this apartment building located?
The property is located at 1584-1590 Highland Avenue Melbourne, FL.
What are key features of this property?
This property features: C3 zoned mixed‑use property formerly the Amuse Theater and The Mathers Hotel from the early 1900s; 100% occupied with stable leases; 1st‑level salon/medi spa plus 11 upper‑level rooming units; Proforma NOI of $159k/year with a 7.2% CAP
