Riverfront Commercial
New
For Sale
$2,900,000
5120 N Us Highway 1, Melbourne, FL 32940
Commercial Sale, Melbourne, FL
Property Size5,400 SF
Lot Size4.64 Acres
Price / SF$537.04
Days on Market2
Property Features for 5120 N Us Highway 1
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial/Residential/Office
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4, Bathroom 5
Parking features
Parking Lot
Subdivision
Honeybrook Plantation
Lot features
Cleared
Directions
From Pineda Causeway Head South on US 1 and Building is approx 3/4 mile on your right hand side.
Standard status
Active
APN
29-38-28-25-0000b.0-0010.00
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
15141
Legal Description
HONEYBROOK PLANTATION LOTS 5,6,7 EXC ORB 7354 PG 1031 & HWY R/W
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Water front features
River Front, River Access
Water front
1
Building Details
Year built
2014
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile
Building materials
Block
Roof type
Tile
Listing Agency:
CENTURY 21 Baytree Realty · Century 21 Real Estate
(321) 255-2600
Listed By:
Jason J Bucci · License #3045210
(321) 591-5922
Added: Aug 21
Last Checked: Aug 22 at 2:06PM
MLS# 1085710
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.
Investment Insights
Based on property information with market context.
This 4.64-acre commercial tract includes a 5,400-square-foot concrete block building constructed in 2014. The property has a tile roof, carpet and tile flooring, central air, five bathrooms, a parking lot, public water, and public sewer. The building is fully occupied, including 3,600 square feet used by the owner, with five-year leases in place for both tenants. The reported cap rate is 7%.
The property fronts US Highway 1 and includes 300 feet of Indian River frontage with river access. The site may be divided into three parcels, and the additional parcels offer flexibility for future development. A Phase 1 Environmental study was completed in Dec. 2025, with approval for a 33,000-square-foot building. The town of Palm Shores has also approved a special height variance.
The property fronts US Highway 1 and includes 300 feet of Indian River frontage with river access. The site may be divided into three parcels, and the additional parcels offer flexibility for future development. A Phase 1 Environmental study was completed in Dec. 2025, with approval for a 33,000-square-foot building. The town of Palm Shores has also approved a special height variance.
Key Highlights
- 4.64 acres with 300 feet of Indian River frontage and river access
- 5,400‑square‑foot concrete block building constructed in 2014
- Fully occupied building with five‑year leases in place for both tenants
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Development tract includes an occupied commercial building, public utilities, and an approved height variance.
Where is this commercial 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 and river access; 5,400‑square‑foot concrete block building constructed in 2014; Fully occupied building with five‑year leases in place for both tenants
