109 New Hvn Ave, Melbourne, FL 32901-4572
- Industrial properties
- 4,347 SF
- 0.46 lot acres
Current Use by Public Records
- E Power Adventures / Cycling Facility / (Bike/Boat/Book/etc) Store
- Judith E Atkin / Law Firm
- Vanfossen Amy B / Law Firm
Property Details for 109 New Hvn Ave
- Year built
- 1926
- Construction
- WOOD
- Lot size
- 0.46 lot acres
- Zone code
- CC1
- Property type
- Industrial properties
- Property subtype
- Industrial live-work properties
- APN
- 28-37-03-55-00002.0-0002.00
- APU
- 9223372036854775807
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 17, 2015 | — | Oakridge Storage LLC | Boozer Stacey L | Quit Claim Deed · related | — |
| May 12, 2011 | — | Stacey L Boozer | Boozer Otto S Trust | Quit Claim Deed · related | — |
| Jun 18, 2007 | — | Boozer Otto S Trust | Boozer,ottos S & Stacey | Quit Claim Deed · related | — |
| Nov 13, 2003 | $395,000 | Thomas J Ryan | Boozer,otto S & Stacey | Grant Deed | $268k · Chase Manhattan Mortgage Corp |
| Oct 13, 1997 | $50,000 | Otto S Boozer | Wrh Mortgage INC | Grant Deed | — |
| — | — | Thomas J Ryan | — | Deed Of Trust · related | $50k · Home Equity Of America INC |
| — | — | Otto S Boozer | — | Deed Of Trust · related | $250k · Harbor Fsb |
| — | — | Otto S Boozer | — | Deed Of Trust · related | $70k · Barnett Bank |
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 Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $840,000
- 6.5%
- $775,000
- 7%
- $720,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,233,000
Market price range: $389k - $1.23M
Get a detailed, property-specific estimation — fast and free
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
