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    4104 Highway 1 Melbourne, FL 32935

    For Sale
    $2,700,000

    Five-unit retail property, high-traffic location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional commercial property, located at 4104 N Highway 1 in Melbourne, Florida (zip code 32935), presents a unique investment opportunity. The 3.44-acre lot boasts 150,282 square feet of land and features five units within a single-story building constructed in 1952. The front buildings (4104 & 4106) have undergone recent updates, making them suitable for a variety of uses, including office, retail, or residential purposes. The property benefits from excellent visibility and high traffic volume, with approximately 35,000 cars passing daily on US Highway 1. Currently zoned BU-1 & RU-1-7, the property offers multiple development possibilities. A significant advantage is the proximity to a sewer line (adjacent VFW), enabling potential expansion into a multi-unit residential project (estimated 30 units). The elevated location provides a 100% usable lot with unobstructed views of the Indian River Coastal Waterway and stunning sunrises. The asking price is $2,700,000. This property is ideally suited for a buyer seeking to maximize its potential through a combined acquisition and redevelopment strategy.

    Property Features for 4104 Highway 1

    General Information

    Property type
    Land

    Building Details

    Year Built
    1952
    Stories
    1
    Units
    5

    HighLights

    • 3.44‑acre lot (150,282 sq ft) in Melbourne, FL (32935).
    • Five‑unit, single‑story building (1952 construction) with updated front units (4104 & 4106).
    • Excellent visibility and high traffic count (approx. 35,000 cars daily) on US Highway 1.
    • BU‑1 & RU‑1‑7 zoning allows multiple development options.
    • Sewer access (adjacent VFW) allows for potential multi‑unit residential expansion (est. 30 units).
    • Elevated lot with unobstructed Indian River views and $2,700,000 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -80.6485946
    Latitude
    28.1737838

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    FAQs

    What type of property is this?
    Land - Five-unit retail property, high-traffic location
    Where is this land located?
    The property is located at 4104 Highway 1 Melbourne, FL.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: 3.44-acre lot (150,282 sq ft) in Melbourne, FL (32935).; Five-unit, single-story building (1952 construction) with updated front units (4104 & 4106).; Excellent visibility and high traffic count (approx. 35,000 cars daily) on US Highway 1.
    Request Owner's contact information
    4104 Highway 1 Melbourne, FL 32935
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    Melbourne, FL 32935
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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
    4104 Highway 1 Melbourne, FL 32935
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