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Downtown Melbourne Commercial Space Available

604 E New Haven Avenue, Melbourne, FL 32901

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For Sale

$799,000

Two-building commercial space in Downtown Melbourne with flexible uses.

Type:Commercial/Industrial

Property size:

4,070 SF

Lot size:

0.15 Acres

Price / SF:

$196/SF

Listing Contact

Grayling Garat Oates

Real Estate License ID: 3024929

HighLights

Seller financing available: 30% down, 5‑year balloon, 7% interest.
Priced $245,000 below market value.
Prime downtown Melbourne location near shops, restaurants, bars, and events.
4,070 sq. ft. block construction building suitable for retail, professional, medical, or restaurant use.
Two buildings with separate entrances allow for multi‑tenant occupancy.
Includes 12 offices, large reception area, and ample storage.

For Sale

$799,000

Two-building commercial space in Downtown Melbourne with flexible uses.

Type:Commercial/Industrial

Property size:

4,070 SF

Lot size:

0.15 Acres

Price / SF:

$196/SF

Added:: Sep 5, 2024
Days on Market:: 644
Last Refresh:: May 20 at 2:05 am

Property Features for 604 E New Haven Avenue

General Information

Standard status: Active
Size: 4,070 SF
Lot size: 0.15 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1954

We can help!

Listing Contact

Grayling Garat Oates

Listing agent Grayling Garat Oates License #3024929

Listing office Engel & Voelkers New Smyrna

Listing date Sep 5, 2024

Source Exitrealty

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 Engel & Voelkers New Smyrna

HighLights

Seller financing available: 30% down, 5‑year balloon, 7% interest.
Priced $245,000 below market value.
Prime downtown Melbourne location near shops, restaurants, bars, and events.
4,070 sq. ft. block construction building suitable for retail, professional, medical, or restaurant use.
Two buildings with separate entrances allow for multi‑tenant occupancy.
Includes 12 offices, large reception area, and ample storage.

Overview

This 4,070 square foot commercial property is located in Downtown Melbourne. Constructed of block, the property features two buildings with separate entrances, suitable for multiple tenants. The current layout includes 12 offices, a large reception area, and ample storage space. A side drive provides on-site parking or an outdoor seating area. The property is suitable for retail, professional, medical, bar, or restaurant use. The location offers proximity to downtown events, shops, restaurants, and bars.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$87.9k	$21.60
− Vacancy	−$14.1k	−$3.46
EGI	$73.8k	$18.14
− OpEx	−$18.5k	−$4.54
NOI	$55.4k	$13.61

4,070 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$791.2K

$692.3K – $923.1K (±1% cap)

NOI $55,385 @ 7.0% cap · market cap 6.93%

Second Best

Specialty Retail

$774.5K

$677.7K – $903.5K (±1% cap)

NOI $54,212 @ 7.0% cap · market cap 6.78%

Theoretical Best

Office A

$1.07M

$939.6K – $1.25M (±1% cap)

NOI $75,165 @ 7.0% cap · market cap 9.41%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Escape Room Entertainment-DT Arcade & Gaming Center

Suggested Use

Location Insight

Map
Local Demand

City: Melbourne
County: Brevard
State: Florida
Longitude: -80.611
Latitude: 28.0788

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For sale
Retail space
FL
Melbourne
32901
604 E New Haven Avenue

What type of property is this?

Retail space - Two-building commercial space in Downtown Melbourne with flexible uses.

Where is this retail space located?

The property is located at 604 E New Haven Avenue Melbourne, FL.

What is the asking price?

The asking price for this property is $799,000.

What are key features of this property?

This property features: Seller financing available: 30% down, 5‑year balloon, 7% interest.; Priced $245,000 below market value.; Prime downtown Melbourne location near shops, restaurants, bars, and events.