Melbourne Commercial Property on US
5120 N Highway 1, Melbourne, FL 32940
Prime commercial real estate with income and development potential.
Type:Office
Property size:
5,400 SFLot size:
4.64 AcresPrice / SF:
$537/SF- Added:
- Aug 29, 2023
- Days on Market:
- 998
- Last Refresh:
- May 12 at 8:35 pm
Property Features for 5120 N Highway 1
General Information
- Standard status
- Active
- Size
- 5,400 SF
- Lot size
- 4.64 Acres
- Property subtype
- Office
Building Details
- Year Built
- 2014
Listing agent Jason Bucci
Listing office CENTURY 21 Baytree Realty
Listing date Aug 29, 2023
Source Crexi
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 CENTURY 21 Baytree Realty
HighLights
- Prime commercial real estate on 4.64 acres with direct US 1 and 300 ft. of Indian River frontage.
- Existing 5400 sq ft concrete block building with tile roof, valued at $1.7 million, currently fully occupied with long‑term leases and a 7% CAP rate.
- Property can be divided into three parcels, offering flexibility for development or sale.
- Phase 1 Environmental completed with approval for a 33,000 sq ft building on one of the parcels.
- Special height variance approved by the town of Palm Shores.
- One tenant (owner) occupies 3600 sq ft with long‑term plans to stay, providing stable income.
Overview
This commercial real estate offering in Melbourne features 4.64 acres with 300 feet of frontage on the Indian River and direct access to US 1. The property can be divided into three parcels. One parcel includes a 5,400 square foot concrete block building with a tile roof, currently fully occupied with long-term leases. The building is valued at $1.7 million, while the remaining 3.39 acres are valued at $1.2 million. The building's CAP Rate is 7%. The building is fully occupied, with 3,600 square feet occupied by the owner, who plans to remain long-term, and the remaining space leased to tenants with 5-year leases. The property offers the potential to generate income from the existing building while developing the other two parcels. A Phase 1 Environmental assessment was completed in December 2025, with approval for a 33,000 square foot building. A special height variance has been approved by the town of Palm Shores for this project.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.6589415
- Latitude
- 28.1921876
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Prime commercial real estate with income and development potential.
Where is this office building located?
The property is located at 5120 N Highway 1 Melbourne, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Prime commercial real estate on 4.64 acres with direct US 1 and 300 ft. of Indian River frontage.; Existing 5400 sq ft concrete block building with tile roof, valued at $1.7 million, currently fully occupied with long‑term leases and a 7% CAP rate.; Property can be divided into three parcels, offering flexibility for development or sale.
