Nursery and Garden Center with Highway
For Sale
$499,000
2814 S Harbor City Boulevard, Melbourne, FL 32901
CommercialSale, Melbourne, FL
Property Size1,500 SF
Price / SF$332.67
Days on Market232
Property Features for 2814 S Harbor City Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
, C-1
Zoning description
Commercial
Lot features
Half To One Acre Lot
Directions
US HIghway 1 northbound --becomes S Harbor City Blvd. Bldg on the left.
Subdivision
Brevard east of IR
Standard status
Active
APN
28371112K27
Taxes and HOA fees
Tax Description
RIVERVIEW HEIGHTS SUBD LOTS 7,8,9 E OF RR EX HWY R/W BLK K 2
Legal Description
RIVERVIEW HEIGHTS SUBD LOTS 7,8,9 E OF RR EX HWY R/W BLK K 2
Utilities
Cooling system
Central Air
Water source
Public
Amenities
newer roof
Terrazzo floors
great lighting
vaulted ceiling/wood trim
completely fenced
thick concrete pad
Building Details
Year built
1980
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block, Concrete
Listing Agency:
Mac Evoy Real Estate Co
(772) 589-0400
Listed By:
Carolyn E Mac Evoy · License #3149016
(772) 925-4791
Added: Jan 7
Changed: Aug 24
Last Checked: Aug 27 at 3:06PM
MLS# 293855
Copyright © 2026 Realtors Association of Indian River County. 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 1,500-square-foot CBS commercial building dates to 1980 and offers a flexible interior for nursery and garden center operations. The layout includes a large open front room and two offices, with Terrazzo flooring, central air, vaulted ceilings, and wood trim. A newer roof and public water service are also in place.
The property fronts US Highway 1, also identified as S Harbor City Boulevard, with access from the highway and from the alley along Irwin Street. Side and rear parking support customer and staff access. The parcel is fully fenced, and the rear includes a substantial concrete pad with a CBS wall enclosure that may accommodate expansion. The property carries C-1 zoning and is within an Opportunity Zone.
The property fronts US Highway 1, also identified as S Harbor City Boulevard, with access from the highway and from the alley along Irwin Street. Side and rear parking support customer and staff access. The parcel is fully fenced, and the rear includes a substantial concrete pad with a CBS wall enclosure that may accommodate expansion. The property carries C-1 zoning and is within an Opportunity Zone.
Key Highlights
- 1,500 SF CBS building constructed in 1980
- C‑1 zoning with public water service
- Large open front room plus 2 offices
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
$17,294
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
3.47%
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%
$345,880
$345.9K
Cap Rate 7%
$247,057
$247.1K
Cap Rate 9%
$192,156
$192.2K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$2.3K −$1.53/SF
EGI
$24.7K $16.47/SF
− OpEx
−$7.4K −$4.94/SF
NOI
$17.3K $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 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%
$345,880
Cap Rate 7%
$247,057
Cap Rate 9%
$192,156
Alternative Uses
Best Use
Retail
$247.1K
$216.2K – $288.2K
NOI $17,294 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$395.7K
$346.3K – $461.7K
NOI $27,702 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
3k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon
Shops & Services
3,276 visits/mo
0.2 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
- Barrett's Landscaping & Garden Center — 3180 Dixie Hwy NE, Palm Bay, FL 32905
- Heritage Park Garden — Melbourne, FL 32901
Frequently Asked Questions
What type of property is this?
Nursery and garden center - C-1 commercial building with open retail space, offices, parking, and access from US Highway 1 or the rear alley.
Where is this nursery and garden center located?
The property is located at 2814 S Harbor City Boulevard Melbourne, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,500 SF CBS building constructed in 1980; C‑1 zoning with public water service; Large open front room plus 2 offices
