Melbourne Commercial Property on US
For Sale
Contact for pricing
5120 N Highway 1, Melbourne, FL 32940
Prime commercial real estate with income and development potential.
Property Size5,400 SF
Lot Size4.64 Acres
Price / SF$537.04
Days on Market1090
Property Features for 5120 N Highway 1
General Information
Standard status
Active
Size
5,400 SF
Lot size
4.64 Acres
Property subtype
Office
Occupancy
100%
Lease Type
Net
Building Details
Year Built
2014
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
CENTURY 21 Baytree Realty
(321) 255-2600
Listed By:
Jason Bucci · License #3045210
Source:
Crexi
Added: Aug 29, 2023
Changed: Aug 8
Last Checked: Aug 19 at 8:05AM
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 CENTURY 21 Baytree Realty
Investment Insights
Based on property information with market context.
This commercial real estate offering in Melbourne features 4.64 acres with 300 feet of frontage on the Indian River and direct access to US 1. The property can be divided into three parcels. One parcel includes a 5,400 square foot concrete block building with a tile roof, currently fully occupied with long-term leases. The building is valued at $1.7 million, while the remaining 3.39 acres are valued at $1.2 million. The building's CAP Rate is 7%. The building is fully occupied, with 3,600 square feet occupied by the owner, who plans to remain long-term, and the remaining space leased to tenants with 5-year leases. The property offers the potential to generate income from the existing building while developing the other two parcels. A Phase 1 Environmental assessment was completed in December 2025, with approval for a 33,000 square foot building. A special height variance has been approved by the town of Palm Shores for this project.
Key Highlights
- Prime commercial real estate on 4.64 acres with direct US 1 and 300 ft. of Indian River frontage.
- Existing 5400 sq ft concrete block building with tile roof, valued at $1.7 million, currently fully occupied with long‑term leases and a 7% CAP rate.
- Property can be divided into three parcels, offering flexibility for development or sale.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Explore this area
Business Placement
Demographics for 32940, FL
44,869
Population
21,433
Households
2.1
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
57.3 sq mi
ZIP Area
783
Density / Sq Mi
$106,511
Median Household Income
$56,072
Median Earnings
$1,904
Median Rent
$444,100
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Prime commercial real estate with income and development potential.
Where is this office building located?
The property is located at 5120 N Highway 1 Melbourne, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Prime commercial real estate on 4.64 acres with direct US 1 and 300 ft. of Indian River frontage.; Existing 5400 sq ft concrete block building with tile roof, valued at $1.7 million, currently fully occupied with long‑term leases and a 7% CAP rate.; Property can be divided into three parcels, offering flexibility for development or sale.
