Renovated Mixed-Use
For Sale
Contact for pricing
Pending
503 N Harbor City Boulevard, Melbourne, FL 32935
Office and restaurant suites are offered in a plaza with direct US-1 frontage and on-site parking.
Property Size1,500 SF
Days on Market1626
Property Features for 503 N Harbor City Boulevard
General Information
Standard status
Pending
Size
1,500 SF
Total Parking Spaces
90
Property subtype
Business
Site & Location
Traffic Count
55,000 vehicles/day
Highway Access
Yes
Listing Agency:
Compass Florida, LLC
(321) 214-8400
Listed By:
Bobby Freeman · License #3076980
(321) 693-1694
Source:
Mccoyfreeman
Added: May 19, 2022
Changed: Oct 29
Last Checked: Oct 29 at 2:42PM
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 Compass Florida, LLC
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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.
A renovated commercial plaza in Melbourne offers office and restaurant spaces ranging from 400 square feet to more than 2,000 square feet. The property includes 90 parking spaces and frontage on US-1, where the stated traffic count is approximately 55,000.
Melbourne Orlando International Airport and the Melbourne beaches are each about 10 minutes away. Orlando International Airport is approximately one hour from the property.
Melbourne Orlando International Airport and the Melbourne beaches are each about 10 minutes away. Orlando International Airport is approximately one hour from the property.
Key Highlights
- Office and restaurant spaces range from 400 square feet to 2,000+ square feet
- 90 parking spaces
- Direct frontage on US‑1; stated traffic count of approximately 55,000
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,294
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$345,880
Cap Rate 7%
$247,057
Cap Rate 9%
$192,156
Alternative Uses
Best Use
Mixed Use
$248.6K
$217.6K – $290.1K
NOI $17,404 @ 7.0% cap · market cap 1,305.63%
Second Best
Retail
$247.1K
$216.2K – $288.2K
NOI $17,294 @ 7.0% cap · market cap 1,297.37%
Theoretical Best
Office A
$395.7K
$346.3K – $461.7K
NOI $27,702 @ 7.0% cap · market cap 2,078.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
55,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
Kelly Ford
Shops & Services
5,643 visits/mo
0.4 miles
Foxtail Coffee
Dining
3,168 visits/mo
0.2 miles
U-Haul
Shops & Services
2,006 visits/mo
0.3 miles
The Tire Choice
Shops & Services
922 visits/mo
0.2 miles
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
Median Home Value
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?
Mixed-use property - Office and restaurant suites are offered in a plaza with direct US-1 frontage and on-site parking.
Where is this mixed-use property located?
The property is located at 503 N Harbor City Boulevard Melbourne, FL.
What are key features of this property?
This property features: Office and restaurant spaces range from 400 square feet to 2,000+ square feet; 90 parking spaces; Direct frontage on US‑1; stated traffic count of approximately 55,000
