Waterfront Land with
For Sale
$2,900,000
5120 N Us Highway 1, Melbourne, FL 32940
Waterfront commercial land along US 1 includes an existing income-producing building and potential parcel division.
Property Size5,400 SF
Price / SF$537.04
Days on Market24
Property Features for 5120 N Us Highway 1
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Commercial
Building Details
Year Built
2014
Listing Agency:
CENTURY 21 Baytree Realty
Listed By:
Jason J Bucci · License #3045210
(321) 255-2600
Source:
Viewfloridabeachhouses
Added: Aug 11
Changed: Sep 3
Last Checked: Sep 3 at 2:11AM
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 4.64-acre waterfront land tract includes 300 feet of frontage along US 1 and Indian River frontage. The property can be divided into three parcels, creating a land component alongside an existing commercial improvement.
One parcel contains a 5,400-square-foot concrete block building constructed in 2014 with a tile roof. The building has five-year leases in place, and its reported cap rate is 7%. A Phase 1 Environmental assessment was completed in December 2025, with approval for a 33,000-square-foot building. The Town of Palm Shores has also approved a special height variance for the project.
One parcel contains a 5,400-square-foot concrete block building constructed in 2014 with a tile roof. The building has five-year leases in place, and its reported cap rate is 7%. A Phase 1 Environmental assessment was completed in December 2025, with approval for a 33,000-square-foot building. The Town of Palm Shores has also approved a special height variance for the project.
Key Highlights
- 4.64 acres with 300 feet of Indian River frontage
- Direct US 1 frontage in Melbourne, FL
- 5,400‑square‑foot concrete block building with tile roof
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
66
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
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Frequently Asked Questions
What type of property is this?
Waterfront Land - Waterfront commercial land along US 1 includes an existing income-producing building and potential parcel division.
Where is this waterfront land located?
The property is located at 5120 N Us 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 acres with 300 feet of Indian River frontage; Direct US 1 frontage in Melbourne, FL; 5,400‑square‑foot concrete block building with tile roof
