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Property profile & analytics
OFF-MARKET Estimated value $2,450,000
Assisted living facilities

101 Florida Ave Melbourne, FL 32901-8301

74,928 SF 9.79 ac lot Built 1986
Individually Owned 8-yr Hold Free & Clear
Property ID
US18-5087918
Property summary
AI-generated overview

University Plaza, a vibrant 6,500 square foot strip center in Melbourne's desirable C2 zoned area, presents a fantastic retail or restaurant opportunity. This 2007-built property boasts a prime location just blocks from Florida Institute of Technology (FIT), a nationally recognized university with over 3,600 students, ensuring a consistent flow of potential customers. The property offers one immediately available space of 1,500 square feet, the minimum divisible size, with a maximum contiguous space also of 1,500 square feet. Situated on a substantial 37,462 square foot lot, the plaza provides ample parking for both tenants and customers. Benefit from excellent visibility and signage opportunities, including building and monument signage. The plaza enjoys a strategic location off Babcock Street, a major north-south thoroughfare in southern Brevard County, conveniently positioned next to a Walmart Neighborhood Market, further enhancing its accessibility and foot traffic. This presents a unique chance to establish a thriving business in a high-traffic area with a strong student population and established retail presence. The property is located in the Melbourne submarket of Brevard County.

Property profile
Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1986
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 74,928 SF
Lot 9.79 ac (426,452 SF)
Zoning code C1
APN 28-37-15-00-00253.0-0000.00
UPID US18-5087918
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Sea Pines Home Health Services Home Health Care Service
  • Bombay Curry Restaurant
  • Dr. Dionne Casthely Physician
  • Space Coast Physical Medicine & Rehabilitation Medical Clinic
  • New York Hair Barbershop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.45M
Owner & transaction history
Robert T Mann JR. · 8 yrs held
Robert T Mann JR.
since 2017
2 recorded transactions
2017
Price N/A
2017
Price N/A
Zoning & alternative use
C1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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