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    1406 Highland Ave Melbourne, FL 32935

    For Sale
    $2,050,000

    Three-unit retail building, vibrant location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional three-unit retail property, located at 1406 Highland Avenue in Melbourne, Florida's thriving Eau Gallie Arts District, presents a compelling investment opportunity. Built in 1951, the property sits on a generous 8,712 square foot lot and is offered at an asking price of $2,050,000. The building's prime location within the Eau Gallie Arts District ensures high visibility and exposure to a vibrant and growing community known for its creative energy, unique local businesses, and dynamic community events. The three individual retail units provide flexibility for a variety of uses, catering to both established businesses and entrepreneurs seeking a foothold in this desirable area. The property's strong location within the district promises consistent foot traffic and a thriving customer base. This is an ideal opportunity for investors seeking a stable, high-growth potential investment in a flourishing arts and cultural hub. The property's size and location make it an attractive prospect for both individual business owners and those seeking a multi-tenant investment. The 32935 zip code offers easy access to major transportation routes and amenities, further enhancing the property's appeal. This is a rare chance to acquire a well-positioned retail property in a rapidly developing area of Melbourne, Florida.

    Property Features for 1406 Highland Ave

    General Information

    Property type
    Retail properties

    Building Details

    Year Built
    1951
    Units
    3
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency 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
    -80.6270646
    Latitude
    28.1297765

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    FAQs

    What type of property is this?
    Retail property - Three-unit retail building, vibrant location.
    Where is this retail property located?
    The property is located at 1406 Highland Ave Melbourne, FL.
    What is the asking price?
    The asking price for this property is $2,050,000.
    Request Owner's contact information
    1406 Highland Ave 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
    1406 Highland Ave Melbourne, FL 32935
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