Current Use by Public Records
- Mixed-use properties
Property Details for 508 Ocean Ave
- Year built
- 1900
- Property type
- Mixed-use properties
- Property subtype
- Land
Description
This exceptional mixed-use property at 508 Ocean Avenue, Melbourne Beach, FL 32951, presents a rare investment opportunity. Situated on a spacious 13,503.6 square foot lot, this property boasts four individual units currently generating rental income within three free-standing buildings. Built in 1900, the property offers significant potential for various ventures, including retail, office space, or a combination thereof. Its prime location between the Atlantic Ocean and the Indian River provides unparalleled coastal charm and convenient access to three international airports, attracting both residents and visitors. The property's proximity to renowned fishing and surfing spots, as well as the awe-inspiring rocket launches to the north, adds to its unique appeal. This expansive lot allows for future improvement, redevelopment, or renovation, catering to a wide range of investment strategies. The property is zoned for mixed-use, multifamily, and land uses, offering flexibility for diverse development plans. While currently operating as a multifamily rental property, the potential for expansion and diversification is substantial. Serious inquiries only
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Melbourne Beach
- County
- Brevard
- State
- Florida
- Longitude
- -80.5641
- Latitude
- 28.0687
