Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1987 Highland Ave Melbourne, FL 32935

    For Sale
    $799,900

    Prime Eau Gallie Arts District location, huge potential!

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 2013-built mixed-use property, situated on an 8,712 sq ft lot in Melbourne, Florida's vibrant Eau Gallie Arts District, presents a unique investment opportunity. Currently configured as a single-unit residential dwelling used as a second home and short-term rental, the property offers immense flexibility. The C-1 zoning allows for a wide array of potential uses, including but not limited to Airbnb, bed and breakfast, assisted living, doggie daycare, medical office, spa, or professional office (subject to verification). The property boasts a private pool and mostly brand-new furnishings, which are optionally available. One area of the backyard remains unfinished, allowing for customization to suit your vision. Consider the potential for a wellness retreat, given the property's location and amenities. The property's value is further enhanced by the proximity to newly constructed riverfront homes selling for over $2 million, indicating significant neighborhood improvement and appreciation. This is a rare opportunity to acquire a versatile property in a rapidly developing area. The asking price is $799,900.

    Property Features for 1987 Highland Ave

    General Information

    Property type
    Land

    Building Details

    Year Built
    2013
    Stories
    1
    Units
    1

    HighLights

    • $799,900 asking price.
    • Mixed‑use property, land, residential subtype.
    • One unit, built in 2013, single story.
    • 8,712 sq ft lot.
    • Located at 1987 Highland Avenue, Melbourne, FL 32935.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6316715
    Latitude
    28.1394442

    Nearby Similar for Sale

    • $757,997
      1,823 SF

      Historic Home in Arts District

      Restored 1928 home near Eau Gallie Arts District.
      1248 Highland Ave, Melbourne, FL 32935
      View Details
    • $545,000
      2,252 SF

      High-Income Multifamily Property in Melbourne

      Three-unit multifamily property with strong income potential in a prime location.
      158 Ct West, Melbourne, FL 32904
      View Details
    • $489,000
      2.51 Acres

      Equestrian Estate with Six-Stall Barn

      2.5-acre equestrian estate featuring a six-stall barn and updated utilities.
      3900 Miami Ave, Melbourne, FL 32904
      View Details
    • $1,700,000
      9,000 SF

      Historic Landmark in Downtown Melbourne

      9000 sq ft historic property with redevelopment potential.
      1824 S Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $1,500,000
      4,948 SF

      Versatile Commercial Property in Melbourne

      Former nursing school suitable for educational, medical, or professional use.
      111 Scott St, Melbourne, FL 32901
      View Details
    • $1,499,000
      7,728 SF

      Melbourne Multi-Unit Investment Opportunity

      Eleven units in a prime Melbourne location with new roof and windows.
      89 NW Irwin Ave, Melbourne, FL 32904
      View Details

    FAQs

    What type of property is this?
    Land - Prime Eau Gallie Arts District location, huge potential!
    Where is this land located?
    The property is located at 1987 Highland Ave Melbourne, FL.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: $799,900 asking price.; Mixed-use property, land, residential subtype.; One unit, built in 2013, single story.
    Request Owner's contact information
    1987 Highland Ave Melbourne, FL 32935
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1987 Highland Ave
    Melbourne, FL 32935
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1987 Highland Ave Melbourne, FL 32935
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.