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    5120 Highway 1 Melbourne, FL 32940

    For Sale
    $2,750,000

    Retail & Land, High-Income Potential

    Property size:
    5,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional commercial property, located at 5120 N Highway 1 in Palm Shores, Florida (zip code 32940), presents a unique investment opportunity. The 4.64-acre site boasts 300 feet of Indian River frontage and direct US Highway 1 access, offering unparalleled visibility and accessibility. The property is comprised of three potential parcels, one of which features a 5,400 square foot building constructed in 2014. This building is a concrete block structure with a tile roof, currently 100% occupied by multiple tenants under net leases with a remaining term of 10 years. The existing building provides immediate income generation. The remaining two parcels offer significant development potential, allowing for expansion or the creation of additional income streams. The owner is willing to sell the outparcels separately for $500,000 each. The total asking price for the entire 4.64-acre property, including the existing building, is $2,750,000. This property is zoned for commercial use and offers a rare combination of existing income and future development possibilities in a high-traffic location. The property's size is 202,118.4 square feet. This is a truly exceptional opportunity for investors seeking a strong return on investment in a prime Florida location.

    Property Features for 5120 Highway 1

    General Information

    Property type
    Land
    Square Feet
    5,400 SF

    Building Details

    Year Built
    2014
    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant 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
    -80.7879407
    Latitude
    28.1988979

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    FAQs

    What type of property is this?
    Land - Retail & Land, High-Income Potential
    Where is this land located?
    The property is located at 5120 Highway 1 Melbourne, FL.
    What is the asking price?
    The asking price for this property is $2,750,000.
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    5120 Highway 1 Melbourne, FL 32940
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    Melbourne, FL 32940
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    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
    5120 Highway 1 Melbourne, FL 32940
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