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Prime Commercial Real Estate Opportunity

5120 N Highway 1, Melbourne, FL 32940

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For Sale

$2,900,000

COMMERCIAL - Melbourne, FL

Type:Office

Property size:

5,400 SF

Lot size:

4.64 Acres

Price / SF:

$537/SF

HighLights

4.64‑acre commercial site with 300 ft of direct US 1 and Indian River waterfront frontage (navigable water).
Can be divided into three parcels total, with one parcel already improved by a 5,400 SF concrete block building.
5,400 SF tile‑roof building is fully occupied; 3,600 SF occupied by the owner and both tenants have 5‑year leases.
Reported 7% cap rate for the 5,400 SF building; building rents in place via long‑term leases.
Utilities include public water and public sewer; central heating and central air, with parking in a parking lot.
Phase 1 environmental completed Dec. 2025, with approval for a 33,000 SF building and a special height variance approved by the Town of Palm Shores.

We can help!

Contact an agent

Jason J Bucci

For Sale

$2,900,000

COMMERCIAL - Melbourne, FL

Type:Office

Property size:

5,400 SF

Lot size:

4.64 Acres

Price / SF:

$537/SF

Added:: Jan 14, 2026
Days on Market:: 166
Last Refresh:: Jun 29 at 2:06 am

Property Features for 5120 N Highway 1

General Information

Property type: Commercial Sale
Property subtype: Office
Bathrooms: 4
Rooms: Bathroom 2, Bathroom 4, Bathroom 1, Bathroom 3
Parking features: Parking Lot
Standard status: Active
APN: 26-37-30-Dt-00000.0-0005.00
Size: 5,400 SF
Lot size: 4.64 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: HONEYBROOK PLANTATION LOTS 5,6,7 EXC ORB 7354 PG 1031 & HWY R/W
Tax Annual Amount: 15772

Utilities

Utilities: Water Available
Sewer type: Public Sewer
Heating system: Central
Cooling system: Central Air, Ceiling Fan(s)
Water source: Public
Water front features: Navigable Water
Water front: 1

Building Details

Year built: 2014
Floors in Building: 1
Number of units: 2
Flooring type: Carpet, Tile
Building materials: Block, Stucco
Roof type: Tile

We can help!

Contact an agent

Jason J Bucci

Listing agent Jason J Bucci License #3045210

Listing office CENTURY 21 Baytree Realty 5120 N US Hwy 1 #102, Rockledge, FL

Listing date Jan 14, 2026

MLS# 1066459

Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

4.64‑acre commercial site with 300 ft of direct US 1 and Indian River waterfront frontage (navigable water).
Can be divided into three parcels total, with one parcel already improved by a 5,400 SF concrete block building.
5,400 SF tile‑roof building is fully occupied; 3,600 SF occupied by the owner and both tenants have 5‑year leases.
Reported 7% cap rate for the 5,400 SF building; building rents in place via long‑term leases.
Utilities include public water and public sewer; central heating and central air, with parking in a parking lot.
Phase 1 environmental completed Dec. 2025, with approval for a 33,000 SF building and a special height variance approved by the Town of Palm Shores.

Overview

This commercial real estate offering in Melbourne, Florida, presents a unique opportunity with 4.64 acres of land directly on US 1, including 300 feet of frontage on the Indian River. The property can be divided into three parcels. One of these potential parcels features a 5,400 square foot concrete block building with a tile roof, which is currently fully occupied with long-term leases. The building is valued at $1.7 million, while the additional 3.39 acres are valued at $1.2 million. The building has a CAP rate of 7%. The existing building is fully occupied, with 3,600 square feet occupied by the owner, who has long-term plans to remain. Both tenants have 5-year leases in place. The property offers the potential to build on the other two parcels while collecting income from the existing building. 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.

Property Profile Location Intelligence

Current Use by Public Records

Commercial land

Suggested Use

Location Insight

Map
Local Demand

City: Melbourne
County: Brevard
State: Florida
Longitude: -80.689889
Latitude: 28.264099

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For sale
Commercial land
FL
Melbourne
32940
5120 N Highway 1

What type of property is this?

Commercial land - 4.64 acres with US 1 frontage and income-producing building.

Where is this commercial land 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: 4.64‑acre commercial site with 300 ft of direct US 1 and Indian River waterfront frontage (navigable water).; Can be divided into three parcels total, with one parcel already improved by a 5,400 SF concrete block building.; 5,400 SF tile‑roof building is fully occupied; 3,600 SF occupied by the owner and both tenants have 5‑year leases.

5120 N Highway 1, Melbourne, FL 32940

COMMERCIAL - Melbourne, FL

Property Features for 5120 N Highway 1

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Restaurant Space in Avenue Viera

Established Italian Restaurant Opportunity

Two-Building Office Property with Parking

Updated Medical Office in Melbourne

Mixed-Use Commercial Building with Loading Dock

CBS Retail Building with Highway Access

Established Restaurant in High-Traffic Plaza

Downtown Melbourne Assemblage Opportunity

Restored Multifamily in Arts District

Melbourne, FL Commercial Property

Corner Lot in Melbourne, FL

Small Office Building with Garage

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