Multi-Parcel Retail and Office
For Sale
Contact for pricing
780 W New Haven Ave, Melbourne, FL 32901
Two existing commercial buildings plus a vacant lot on a major Melbourne corridor offer C2 flexibility and ample parking.
Property Size4,673 SF
Lot Size0.65 Acres
Price / SF$208.65
Days on Market55
Property Features for 780 W New Haven Ave
General Information
Standard status
Active
Size
4,673 SF
Class
C
Lot size
0.65 Acres
Property subtype
Land, Office, Retail
Zoning
C2: Office, Retail, Financial, Restaurant & More
Investment Type
Owner/User
Additional Details
Traffic Count
35,301 vehicles/day
Building Details
Buildings
2
Listing Agency:
JM Real Estate, Inc.
Listed By:
Shey Anderson · License #FL 3435883
Source:
Crexi
Added: Jun 19
Changed: Aug 12
Last Checked: Aug 12 at 12:34PM
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 JM Real Estate, Inc.
Investment Insights
Based on property information with market context.
The offering includes two existing commercial buildings and one adjacent vacant parcel at 760–780 W New Haven Ave and 1933 Palm Blvd. The buildings total 4,673 square feet across 780 W New Haven Ave (2,373 SF) and 760 W New Haven Ave (2,300 SF), with each parcel featuring its own lot size. The third parcel, 1933 Palm Blvd, is a vacant commercial lot.
All parcels are positioned along West New Haven Avenue (US-192), a primary east-west corridor in Melbourne, Florida, with reported visibility/exposure to approximately 35,301 vehicles per day. The property is described as having strong street presence and ample parking, and the three parcels together provide multiple avenues for owner-occupancy, investment, redevelopment, or future expansion.
Zoned C2, the site is suited to a range of commercial uses, including office, retail, financial, restaurant, and service-oriented businesses. With multiple parcels under one portfolio, the configuration can accommodate tenants seeking established building space while also allowing for planning around the adjacent vacant lot for additional development or future needs, subject to applicable requirements.
All parcels are positioned along West New Haven Avenue (US-192), a primary east-west corridor in Melbourne, Florida, with reported visibility/exposure to approximately 35,301 vehicles per day. The property is described as having strong street presence and ample parking, and the three parcels together provide multiple avenues for owner-occupancy, investment, redevelopment, or future expansion.
Zoned C2, the site is suited to a range of commercial uses, including office, retail, financial, restaurant, and service-oriented businesses. With multiple parcels under one portfolio, the configuration can accommodate tenants seeking established building space while also allowing for planning around the adjacent vacant lot for additional development or future needs, subject to applicable requirements.
Key Highlights
- Commercial portfolio includes two buildings totaling 4,673 SF plus an adjacent vacant commercial lot on ~0.65 acres
- Two buildings along W New Haven Ave (US‑192): 2,373 SF at 780 W New Haven Ave and 2,300 SF at 760 W New Haven Ave
- Vacant parcel at 1933 Palm Blvd offers 0.31 acres for future expansion or development options
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,590
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,271,800
$1.3M
Cap Rate 7%
$908,429
$908.4K
Cap Rate 9%
$706,556
$706.6K
Market Conditions
NOI Build-Up for 4,673 SF
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.
Gross rent
$100.9K $21.60/SF
− Vacancy
−$16.1K −$3.46/SF
EGI
$84.8K $18.14/SF
− OpEx
−$21.2K −$4.54/SF
NOI
$63.6K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,271,800
Cap Rate 7%
$908,429
Cap Rate 9%
$706,556
Alternative Uses
Best Use
Office B
$908.4K
$794.9K – $1.06M
NOI $63,590 @ 7.0% cap · market cap 6.52%
Second Best
Retail
$769.6K
$673.4K – $897.9K
NOI $53,875 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,301 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
35,301 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32901, FL
26,286
Population
13,241
Households
2
Avg Household Size
46
Median Age
31%
College-Educated
90%
High-School Grad
12.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$50,646
Median Household Income
$31,929
Median Earnings
$1,349
Median Rent
$244,500
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?
Storefront property - Two existing commercial buildings plus a vacant lot on a major Melbourne corridor offer C2 flexibility and ample parking.
Where is this storefront property located?
The property is located at 780 W New Haven Ave Melbourne, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Commercial portfolio includes two buildings totaling 4,673 SF plus an adjacent vacant commercial lot on ~0.65 acres; Two buildings along W New Haven Ave (US‑192): 2,373 SF at 780 W New Haven Ave and 2,300 SF at 760 W New Haven Ave; Vacant parcel at 1933 Palm Blvd offers 0.31 acres for future expansion or development options
