1112 New Haven Ave Melbourne, FL 32904

This stabilized investment opportunity in Melbourne, Florida, presents a compelling mix of retail and office space. The property comprises two buildings totaling 11,400 square feet on a one-acre lot, situated at 1112 W New Haven Ave, 32904. Built in 1991 and 2009, the buildings feature eight units, currently occupied at 67.5% capacity. The property boasts a strong pro-forma net operating income (NOI) of $142,842, yielding a 6.49% cap rate. The asking price is $2,200,000, translating to $192.98 per square foot. The property is zoned C-NH Commercial New Haven and offers significant upside potential. Currently, 3,700 square feet of vacant space in the 1991 building (1106-1112 New Haven Ave) is available, previously occupied by the owner, and can be subdivided into two tenancies. The existing tenants enjoy a modified lease structure with 3% annual rent bumps. This high-visibility location features lighted signage on New Haven Avenue, ensuring optimal exposure for businesses. The property is ideal for owner-users seeking to occupy the vacant space while generating income from existing tenants, or for investors seeking a stable, cash-flowing asset with significant growth potential. The property includes 5,700 square feet in each building, with four units per building.