Downtown Melbourne Commercial Space
604 E New Haven Avenue Melbourne, FL 32901
For Sale
$799,000
Pending
Two-building commercial space in Downtown Melbourne with flexible uses.
Property Size4,070 SF
Lot Size0.15 Acres
Days on Market691
Property Features for 604 E New Haven Avenue
General Information
- Standard status
- Pending
- Size
- 4,070 SF
- Lot size
- 0.15 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1954
Listing Agency:
Engel & Voelkers New Smyrna
(321) 271-0042
Listed By:
Grayling Garat Oates · License #3024929
(321) 271-0042
Source:
Exitrealty
Added: Sep 4, 2024
Changed: Jul 10
Last Checked: Jul 25 at 5:05AM
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 Engel & Voelkers New Smyrna
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| 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
NOI $55,385 @ 7.0% cap · market cap 6.93%
Second Best
Retail
$670.3K
$586.5K – $782.1K
NOI $46,923 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$1.07M
$939.6K – $1.25M
NOI $75,165 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Escape Room Entertainment-DT
Arcade & Gaming Center
FAQs
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.
