109 New Haven Ave Melbourne, FL 32901
- Industrial properties
- 4,347 SF
- 0.46 lot acres
Current Use by Public Records
- E Power Adventures / Bicycle Rental Service
- Judith E Atkin / Attorney
- Vanfossen Amy B / Attorney
Property Details for 109 New Haven Ave
- Year built
- 1926
- Construction
- WOOD
- Lot size
- 0.46 lot acres
- Property size
- 4,347 SF
- Zone code
- CC1
- Property type
- Industrial properties
- Property subtype
- Industrial live-work properties
- APN
- 28-37-03-55-00002.0-0002.00
- APU
- 9223372036854775807
Description
This exceptional investment opportunity presents a 19-unit self-storage facility located at 109 E New Haven Ave, Melbourne, FL 32901, in Brevard County. The property, built in 2008 and renovated the same year, comprises three buildings totaling 6,800 net rentable square feet on a 20,038 square foot lot. The facility boasts a current NOI of $65,221, with a pro-forma NOI projected at $105,225, representing a 4.35% cap rate and a pro-forma cap rate of 7.02%. Currently 100% leased with a waiting list, this Class B property offers significant upside potential. The existing structures are durable, constructed of concrete block with metal roofs. Further expansion opportunities exist, including approximately 1,000 square feet of office space and two additional 432 square foot spaces available for build-out, potentially generating an additional $2,500-$3,500 in monthly rental income. The property is zoned C-1 and benefits from its prime location in Melbourne, minutes from downtown and the Florida Institute of Technology, ensuring strong demand. This turnkey operation presents a rare chance to acquire a profitable, established business with substantial growth potential. The asking price is $1,500,000. APN: 28-37-03-55-00002.0-0002.00.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $305,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $320,000
- 6.5%
- $325,000
- 7%
- $335,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $335,000
- Geo Method
- $280,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $295,000
- Retail
- $260,000
- Mixed-Use
- $355,000
- Hospitality
- $295,000
- Educational
- $320,000
- Residential Income
- $330,000
- Energy
- $260,000
- Income-Based Land
- $290,000
- Food Service
- $265,000
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.619
- Latitude
- 28.0782
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
