Mixed-Use Property in Prime
842 Torrence Lane, Melbourne, FL 32935
New
MULTI_FAMILY - Melbourne, FL
Property size:
1,026 SFLot size:
0.11 AcresPrice / SF:
$224/SF- Added:
- May 30, 2026
- Days on Market:
- 1
- Last Refresh:
- May 30 at 5:06 pm
Property Features for 842 Torrence Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1
- Parking
- 4
- Parking features
- Off Street, Assigned
- Appliances
- Dryer, Electric Range, Electric Water Heater, Refrigerator, Washer
- Standard status
- Active
- APN
- 27-37-21-50-0000a.0-0007.00
- Size
- 1,026 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- MELBOGALLIE SUBD LOT 7 BLK A
- Tax Annual Amount
- 1752
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1947
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile, Vinyl
- Building materials
- Frame, Wood Siding
- Roof type
- Shingle
Listing agent Roger L Bukowski (321) 243-4952
Listing office Sunshine Realty Brevard 1600 Sarno Rd., #3, Melbourne, FL (321) 412-0245
Listing date May 30, 2026
MLS# 1078627
Listing URL
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.
HighLights
- Prime location near Sarno and US1 in the heart of Melbourne.
- Flexible residential/professional property with multiple income‑generating possibilities.
- Potential for live‑work arrangement, short‑term rentals (Airbnb), or full commercial/residential use.
- Existing income from studio and 2‑bedroom units totaling $2,325/month ($27,900/year) gross.
- Includes essential appliances: Dryer, Electric Range, Electric Water Heater, Refrigerator, and Washer.
- Off‑street assigned parking available.
Overview
Located in Melbourne, Florida, this mixed-use property at 842 Torrence Lane offers both residential and professional space. The property includes a studio and a two-bedroom unit, presenting opportunities for generating income or operating a business. The studio has a potential market rent of $925 per month, while the two-bedroom unit is currently occupied at $1400 per month, resulting in a total gross income of $2,325 per month or $27,900 per year. The 1,026 square foot property on a 0.11-acre lot can be used as a live-work space, short-term rentals, or a full business/residence. It is suitable for a commercial enterprise, retail space, real estate office, spa suite, or a single-family home. The property's location at Sarno & US1 provides additional investment opportunities.
Local 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 | $22.2k | $21.60 |
| − Vacancy | −$3.5k | −$3.46 |
| EGI | $18.6k | $18.14 |
| − OpEx | −$4.7k | −$4.54 |
| NOI | $14.0k | $13.61 |
1,026 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$199.5K
$174.5K – $232.7K
NOI $13,962 @ 7.0% cap · market cap 6.07%
Second Best
Mixed Use
$170.1K
$148.8K – $198.4K
NOI $11,904 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$270.7K
$236.9K – $315.8K
NOI $18,948 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.632044
- Latitude
- 28.121337
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Flexible residential/professional property with income potential in Melbourne, Florida.
Where is this mixed-use property located?
The property is located at 842 Torrence Lane Melbourne, FL.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Prime location near Sarno and US1 in the heart of Melbourne.; Flexible residential/professional property with multiple income‑generating possibilities.; Potential for live‑work arrangement, short‑term rentals (Airbnb), or full commercial/residential use.
