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    8674 Illinois Ave Melbourne, FL 32904

    For Sale
    $190,000

    Rare ½-acre lot, ideal for mixed-use development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 22,216 square foot property, located at 8674 Illinois Avenue in Melbourne, Florida (zip code 32904), presents a unique investment opportunity. Situated in June Park, this sizable lot wraps around the block, offering access from three streets. The property features three drive-through gate openings, providing convenient access for vehicles and equipment. While the existing house on the property requires significant renovation or demolition, the eastern half has already been cleared, making it ready for new construction. The land is currently enclosed by a chain-link fence and boasts lush vegetation. The property is being sold "as is," with the seller making no improvements prior to sale. This presents a blank canvas for a variety of development projects, from residential to commercial ventures, offering significant potential for future growth and return on investment. The property's size and location in Melbourne, Brevard County, make it an attractive proposition for those seeking a substantial land parcel with multiple development possibilities. This is a rare opportunity to acquire a large, versatile lot in a desirable Florida location.

    Property Features for 8674 Illinois Ave

    General Information

    Property type
    Land

    HighLights

    • 22,216 SF lot at 8674 Illinois Avenue, Melbourne, FL 32904.
    • Located in June Park with three‑street access.
    • Features three drive‑through gates.
    • Existing house requires renovation/demolition; eastern half cleared for new construction.
    • Currently fenced with landscaping.
    • Sold "as is".
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6836729
    Latitude
    28.0701462

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    FAQs

    What type of property is this?
    Land - Rare ½-acre lot, ideal for mixed-use development.
    Where is this land located?
    The property is located at 8674 Illinois Ave Melbourne, FL.
    What is the asking price?
    The asking price for this property is $190,000.
    What are key features of this property?
    This property features: 22,216 SF lot at 8674 Illinois Avenue, Melbourne, FL 32904.; Located in June Park with three-street access.; Features three drive-through gates.
    Request Owner's contact information
    8674 Illinois Ave Melbourne, FL 32904
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    Melbourne, FL 32904
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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
    8674 Illinois Ave Melbourne, FL 32904
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