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For sale
Conventional restaurants
FL
Melbourne
32901
2021 Melbourne Ct

Landmark Downtown Restaurant Building

2021 Melbourne Ct Melbourne, FL 32901

2021 Melbourne Ct, Melbourne, FL, 32901

$1,350,000

For Sale

$1,350,000

Vacant former post office with a large open interior, commercial kitchen, and raised stage, previously operated as a restaurant and bar.

Property Size5,027 SF

Price / SF$268.55

AddedJun 30

Days on Market16

Last RefreshJul 15 at 2:14 am

Property Features for 2021 Melbourne Ct

General Information

Standard status: Active
Size: 5,027 SF

Listing office RE/MAX Alternative Realty

Listing date Jun 30, 2026

Source Exprealty

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 RE/MAX Alternative Realty

Investment Insights

Based on property information with market context.

This vacant, landmark downtown building was previously home to the Iron Oak Post bar and restaurant. The property features a large open interior, a huge bar area, and a commercially ready kitchen, along with a raised stage for performers.

The building is located at 2021 Melbourne Ct, Melbourne, FL. It is zoned C-C3, and future land use is listed as Mixed-Use, which can support a wide range of uses.

Available for sale, the space offers a straightforward restaurant build-out configuration with bar, kitchen, and performance space already in place for an operator looking to resume food and beverage use.

Key Highlights

Vacant former Melbourne Post Office building previously operated as the Iron Oak Post bar and restaurant.
Large open interior with a huge bar area and a commercial‑ready kitchen.
Raised stage included for performers.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$96.5k	$19.20
− Vacancy	−$7.2k	−$1.44
EGI	$89.3k	$17.76
− OpEx	−$22.3k	−$4.44
NOI	$67.0k	$13.32

5,027 SF · lease $19.20/SF/yr · vacancy 7.50% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$956.6K

$837.0K – $1.12M (±1% cap)

NOI $66,960 @ 7.0% cap · market cap 4.96%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $92,839 @ 7.0% cap · market cap 6.88%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

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For sale
Conventional restaurants
FL
Melbourne
32901
2021 Melbourne Ct

What type of property is this?

Conventional restaurant - Vacant former post office with a large open interior, commercial kitchen, and raised stage, previously operated as a restaurant and bar.

Where is this conventional restaurant located?

The property is located at 2021 Melbourne Ct Melbourne, FL.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: Vacant former Melbourne Post Office building previously operated as the Iron Oak Post bar and restaurant.; Large open interior with a huge bar area and a commercial‑ready kitchen.; Raised stage included for performers.