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    1811 Riverview Dr Melbourne, FL 32901

    For Sale
    $1,949,900

    Prime Riverfront Property, Approved for Townhouses

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 22,216 square foot commercial and residential land parcel is situated at 1811 Riverview Drive in historic downtown Melbourne, Florida (zip code 32901). Currently zoned C-1, allowing for mixed residential and commercial development, this property presents a unique investment opportunity. The site boasts approximately 165 feet of stunning waterfront access, offering breathtaking views of the Indian River, causeway, and barrier island. Existing approvals are in place for the construction of four townhouses, but the zoning allows for the potential development of up to six. A previously existing structure features a recently installed metal roof and other upgrades, strengthening its foundation for potential multi-level development, such as a restaurant or bar, capitalizing on the spectacular river views. The flexible zoning also opens possibilities for a variety of uses, including a multi-unit condominium (up to 50 units), office spaces, retail establishments, or a combination thereof. This prime location in the heart of historic downtown Melbourne offers unparalleled access to local amenities and attractions. Don't miss this rare chance to acquire a versatile waterfront property with significant development potential. The asking price is $1,949,900.

    Property Features for 1811 Riverview Dr

    General Information

    Property type
    Land

    HighLights

    • $1,949,900 asking price.
    • 22,216 square foot lot.
    • Prime riverfront location in historic downtown Melbourne, FL.
    • Approved for 4 townhouses, potential for 6.
    • 165 feet of water frontage with stunning river views.
    • C‑1 zoning allows for mixed residential/commercial use, including potential for condos, offices, retail, or restaurant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6026996
    Latitude
    28.0815586

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    FAQs

    What type of property is this?
    Land - Prime Riverfront Property, Approved for Townhouses
    Where is this land located?
    The property is located at 1811 Riverview Dr Melbourne, FL.
    What is the asking price?
    The asking price for this property is $1,949,900.
    What are key features of this property?
    This property features: $1,949,900 asking price.; 22,216 square foot lot.; Prime riverfront location in historic downtown Melbourne, FL.
    (321) 917-7450
    Request Owner's contact information
    1811 Riverview Dr Melbourne, FL 32901
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    Melbourne, FL 32901
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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
    1811 Riverview Dr Melbourne, FL 32901
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